2/07/01 - COMPAQ COMPUTER CORP - To Invest (CDN) Three
Million Dollars in InteliSys Aviation Systems
New York, New York, Feb 07, 2001 (Market News Publishing via COMTEX) --
Compaq Canada Corp. announced that, through an affiliate, it has approved a
strategic cash and technology investment of (CDN) three million dollars in
InteliSys Aviation Systems Inc. - the first of its kind in Eastern Canada.
The investment will be made in Convergix, the holding company that owns
InteliSys, with the entire amount to be used only within InteliSys operations.
Two million dollars of cash and technology will be invested immediately with an
additional one million dollars pre-approved subject to future performance. The
investment continues Compaq's integrated global strategy to fuel the growth of
Internet infrastructure.
"Compaq is extremely pleased to be investing in InteliSys, an innovative VSP
supplying world-class enterprise solutions to the aviation industry with a proven
business model," says David Booth, President and Managing Director, Compaq
Canada Corporation. "This investment will speed the global introduction of
InteliSys Aviation solutions and is a testament to its proven technology
leadership. It is Compaq Canada's intention to accelerate Canadian new economy
businesses and help them export their expertise to the world."
For Compaq Canada, the investment in InteliSys represents the opportunity to
participate in its worldwide strategy and become the preferred supplier of
technology and services. A Compaq Canada executive will also be nominated to
sit on the Convergix Board of Directors.
Mr. Booth, Lloyd Poirier, President and CEO of InteliSys Aviation Systems and
Bernard Lord, Premier of New Brunswick, commented on this new strategic
relationship at a ceremony held in Moncton, New Brunswick. Additionally, The
Honourable Claudette Bradshaw, Minister of Labour and M.P. for Moncton-
Riverview-Dieppe was pleased with today's announcement.
"Today's announcement is a great example of partners coming together to
advance Canadian innovation within a competitive, knowledge-based global
economy" said Minister Bradshaw. "I am very pleased that with assistance from
the Atlantic Canada Opportunities Agency (ACOA), both InteliSys and Compaq
have chosen New Brunswick as their site for expansion which will create high
paying and highly skilled jobs here at home."
"This announcement highlights the leadership role that New Brunswick is playing
in the IT industry in Canada and around the world," Premier Bernard Lord said.
"This strategic investment will enable InteliSys to compete on a global scale in
aviation systems and grow their operations and employment in Shediac."
"We are delighted to add Compaq as a financial and co-marketing partner and
plan to leverage their extensive experience to forge our expansion as the leading
mid-sized aviation integrated solution provider," said Lloyd Poirier. "InteliSys
creates market advantages from 'ticketing to take-off' for any company with a
fleet of aircraft. Together with Compaq, we can continue to deliver mission
critical solutions to the aviation industry worldwide."
About the Compaq Investment Strategy
Compaq, and in turn Compaq Canada, is targeting both new economy
accelerators, such as itemus inc., and fast growing service providers, such as
InteliSys Aviation Systems, with an integrated suite of programs including
discounted financing through Compaq Financial Services (CFS), equity
investments and cooperative marketing. Globally, the composition of Compaq's
(US) $1.1 Billion new economy focused program consists of (US) $600 million
through CFS initiatives, (US) $400 million for equity investments and (US) $150
million for cooperative marketing.
Company Backgrounds
InteliSys Aviation Systems Inc., a leading developer and vendor of airline
management software since 1987, originally based in Montreal and now in
Shediac, N.B. and Boston, MA. InteliSys offers mid-sized carriers a seamlessly
integrated suite of enterprise software known as Amelia(R). Operated via a
relational SQL database platform in WAN or VSP format, the suite is comprised of
reservations/scheduling, flight operations, maintenance, human resources,
financial applications and cockpit applications such as fuel optimization and
weight & balance. InteliSys currently provides IT solutions to more than 15 per
cent of the largest airlines in the Canadian market and distributes integrated
aviation software solutions to clients worldwide.
Compaq Canada Corp., a wholly-owned subsidiary of Compaq Computer
Corporation of Houston, Texas, markets offerings comprised of hardware,
software, solutions and services, including industry-leading enterprise computing
solutions, fault-tolerant, business-critical solutions, enterprise and network
storage products, commercial desktop and portable products, and consumer
personal computers.
With headquarters and distribution facilities in Richmond Hill, Compaq Canada
Corporation has 3,500 employees located in 41 offices across Canada, including
Vancouver, Edmonton, Calgary, Regina, Winnipeg, London, Mississauga,
Markham, Ottawa, Montreal, Quebec City, Moncton, Halifax and St. John's. With
the exception of its larger scale technologies and services, Compaq products and
services are sold and supported through a network of more than 3,800 marketing
partners across the country.
Compaq and the Compaq logo are registered with the United States Patent and
Trademark Office. Product names mentioned herein may be trademarks and/or
registered trademarks of their respective companies. |
