COGNICASE Complements Processing and Infrastructure Outsourcing Services Offering: Acquires Meta-4 Systems Corporation
MONTREAL, QUEBEC--COGNICASE Inc. (TSE: COG, NASDAQ: COGI), an
innovative IT solutions provider specializing in the development
and integration of transactional solutions, today announced the
acquisition of Meta-4 Systems Corporation, a Montreal-based
provider of installation and technical services for mid-range and
micro computer systems and automated teller machines (ATMs).
Founded in 1981, Meta-4 employs 158 people in five offices
throughout Canada. The company offers a full scope of third party
technical services for mid-range and micro computer systems and
peripherals, as well as the installation and support of local area
networks (LANs). It provides major financial institutions with
full second line ATM support, repair, maintenance and installation
services and currently services almost 5,000 ATMs. Most of the
contracts are for standard five-year terms.
Meta-4 is an authorized video lottery terminal installation and
service partner for La Societe des Loteries Video du Quebec Inc,
and maintains approximately 4,300 machines. The company also
provides installation and technical services for multi-function
automated teller machines in the entertainment and gaming market
and was the first non-financial institution in Canada to install
"private label" ATMs. Meta-4 operates over 600 of its own ATMs and
is an associate member of the INTERAC network.
Ronald Brisebois, COGNICASE Chairman of the Board, President and
CEO, stated, "This acquisition is important because it serves as a
base for entering the processing, monitoring and outsourcing of
ATM and point-of-sale (POS) transactions market. It also
complements the offering of our infrastructure services unit and
will create potential synergies in consolidating call centres. Our
reputation as a provider of end-to-end services will be enhanced,
and the recurring revenue stream of 50% from maintenance contracts
supports our business model."
Peter Karabetian, Meta-4 Systems Corporation President and CEO,
concurred that, "The acquisition of Meta-4 Systems by COGNICASE is
extremely positive and synergetic for both companies, as it will
provide Meta-4 with additional opportunities to grow and
strengthen its technical support capabilities, while offering
COGNICASE and its customers a full and complementary set of
additional in-house services and available expertise."
About COGNICASE
COGNICASE (TSE: "COG", Nasdaq: "COGI") is an IT products and
services provider specializing in advanced transaction processing
and Internet-based applications. Relying on its results-driven
approach, its software and technology and its Application Services
Technology Centre, COGNICASE offers secure and scalable solutions
that contribute to its customers' economic success in the age of
the new economy. The Company is active in Canada, the United
States, and Europe.
About Meta-4 Systems
Meta-4 Systems is a Montreal-based provider of installation and
technical services for mid-range and micro computer systems,
peripherals, video lottery terminals and automated teller
machines. Founded in 1981, the company employs 158 people and
serves clients from offices in Montreal, Quebec City, Toronto,
Calgary and Vancouver. |
