Hey early birds, are you guys hanging out in the same coffe shop? Just for morale sake here is just one of many good reports on Cognicase: Ill post some more thoughts later: Im late for a date.
Jan 8th 1998: Note a 20 million dollar contract! 100 assements at underway at the first of this year!
Cognicase and its partners have more than 35 conversion projects with clients such as 3M, Bell Canada, and Nortel. As well, Cognicase has performed more than 100 assessments, the precursor to conversion projects.
Cognicase's automated software tools, consulting services, alliances and software maintenance services should provide a relatively smooth transition after 2000.
A few weeks ago, Cognicase and Oerlikon Aerospace announced they had obtained two contracts with Canada's Defense Department worth $50 million over the next four years. Cognicase's share of this contract is $20 million.
Ottawa may have to spend more than $1.5 billion to fix the Y2K problem. Most government departments are in the assessment and planning mode now. The company recently acquired Montrealbased IcoTech, and is considering other acquisitions. IcoTech, which provides consulting and systems integration services, has revenues of US$16.2 million. Its customer list includes Hydro-Quebec, Provigo, Canadian National Railway, the Defense Department and France Telecom.
IcoTech's presence in France will open the door to the conversion projects foreseen with the move to a single currency (i.e. Euro) in the European Community. Another large growth opportunity is the migration from a Unix operating system to Windows NT.
Through seven conversion factories, Cognicase derives royalties for the use of its conversion software, COGNI-2000. The factories are operated by its strategic partners, DMR Group, MCI System house and Trecom Business Systems in Australia, Canada, France, Germany, the U.K. and U.S.
During fiscal 1997, royalties from these seven conversion factories accounted for about 12 per cent of total revenues. |
