Company update - contracts, new products, acquistions/JVs
NewSys Signs Contracts in Last 90 Days with Estimated Value
Exceeding $5,000,000 -- Acquisition & Joint Venture Program Initiated
OTTAWA, ONTARIO--NewSys Solutions Inc. ("NewSys" or the
"Company"), (ASE:NSS) a leading Information Technology ("IT")
services company, is pleased to announce that in the last 90 days,
it has signed contracts with an estimated value exceeding
CDN$5,000,000. The transactions are with a combination of existing
and new clients, reflecting NewSys' growing reputation in the
areas of data warehousing, integration, and outsourcing.
The last 90 days have been a turning point for NewSys. With the
investment in technical training and additions to sales and
marketing personnel, the Company has moved to offering a more
comprehensive set of products and services, through the
introduction of NewSys proprietary templates. These templates are
designed to work in conjunction with third party software and were
created for specific vertical markets. The end result is a more
competitive offering to the client where consulting services,
software and business knowledge, provides a value-added solution
for the customer. This evolution of the NewSys business model
(which includes the sale of proprietary applications) increases
profit margins and compliments gains already expected due to fixed
costs being spread over a growing sales base.
Another significant component of NewSys' go-forward business
strategy is an increased emphasis on acquisitions and joint
ventures ("JV"). In this regard, NewSys has engaged, in an
advisory capacity, SteppingStone Capital Corporation of
Toronto/Ottawa. To date, a number of potential targets have been
identified under this program with two candidates in advanced
stages of negotiation. Management now believes the Company has
sufficient critical mass of sales necessary to embark on a
strategic acquisition and JV program.
NewSys Solutions Inc. is an Information Technology consulting firm
and an innovator in business intelligence solutions, specializing
in data warehousing, integration, and outsourcing. Employing over
160 IT professionals, NewSys' clients include Fortune 500
corporations and government departments located in both Canada and
the United States. The Company has recorded 22 consecutive
quarters of growth and profitability and was acknowledged by
Profit Magazine as one of the fastest growing companies in Canada.
All logos, trade names, and product names and trademarks or
registered trademarks are property of their respective owners. The
Alberta Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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FOR FURTHER INFORMATION PLEASE CONTACT:
NewSys Solutions Inc.
Website: newsys.com
(877) 761-9436
or
For Investor Relations
Bristol Communications Group Inc.
Stephen Paterson or Michael Simon
(416) 203-1800
E-Mail: spaterson@newsys.com or
mdsimon@newsys.com
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