News - Informatica acquisition
LAVA SYSTEMS INC. ACQUIRES AUSTRALIAN SOFTWARE COMPANY
Informatica Software Systems Solutions brings established client
base in financial services, transportation and healthcare markets
TORONTO, May 6 /CNW/ - LAVA Systems Inc. (TSE:LVA) today announced the
acquisition of Informatica Software Systems Solutions Pty. Limited, an
established systems integration and software products firm based in Sydney,
Australia. A privately-held firm, Informatica's business was acquired in an
all share transaction, which will result in the issuance of approximately
1,400,000 common shares of LAVA Systems Inc. The transaction will be accounted
for using purchase accounting.
Formed in 1989, Informatica is one of Australia's leading workflow, image
and document management consulting and product companies with a client base
centred in the Financial Services, Medical and Transportation sectors.
Informatica's operations will be fully merged with LAVA Systems Australia Pty.
Limited's Sydney based operations and will create sufficient critical mass to
meet the increasing sales of LAVA's products in the Australian marketplace.
''Informatica's products and skill sets are very complementary to LAVA's
and strengthen our ability to provide our firms' combined customer base and
potential clients with advanced knowledge management solutions that seamlessly
integrate imaging, workflow, document management and database connectivity,''
said Peter Hamilton, President and CEO of LAVA Systems Inc.
''We have built our reputation by providing quality solutions and we are
confident that this reputation will be maintained and enhanced as part of the
LAVA organization. Joining LAVA will ensure the continued longevity and
development of our in-house products -- as part of LAVA's overall Knowledge
Management suite -- and will enable us to provide a greater range and depth of
products and services, thus continuing our excellent relations with our
clients and business partners.'' said Charles Lattuca, Managing Director,
Informatica Software Systems Solutions.
A Decade of Success to Continue
Founded in 1989, Informatica's emphasis on applying disciplined,
knowledgeable solution creation and implementation methodologies has minimized
risk and delivered maximum results on a variety of projects, on time and on
budget. The firm's expertise in combining off-the-shelf products and custom
code to deliver turnkey solutions has won it a wide following, specifically in
financial services, which is one of the segments on which LAVA is focused.
Major companies such as Munich Reinsurance Australia, ANZ Bank and AMP
Priority One Banking have come to rely on Informatica as a leading provider of
high quality productivity improvement solutions.
''LAVA is achieving success in the Australian marketplace and this
acquisition will allow us to further our penetration into our focussed market
sectors,'' commented Ian Halliday, Managing Director, LAVA Systems Australia
Pty. Limited.
About LAVA Systems Inc.
LAVA Systems Inc. (TSE:LVA), based in Toronto, Ontario, Canada, is a
leading developer of award-winning integrated document-based application
enablement solutions for information-intensive enterprises. LAVA provides
organizations, wanting to achieve increased operating efficiencies in critical
functions, premier solutions that integrate electronic document information
and line-of-business applications through a single point of access.
LAVA strives to consistently produce proven solutions that are rapidly
deployable, easily maintainable and that offer enterprise-wide connectivity.
LAVA solutions are unique in the marketplace, offering a unified information
management solution without expensive coding changes. LAVA Systems'
headquarters is located at 3300 Bloor Street West, Suite 1900, West Tower,
Toronto, Ontario, M8X 2Z1. Website: www.lavasys.com
For further information: Steve Wilson, Chief Financial Officer - LAVA
Systems Inc., (416) 207-3043, (416) 236-5283 FAX, swilson@lavasys.com,
www.lavasys.com
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