A little feel good story:
Tuesday November 11, 8:02 am Eastern Time
Company Press Release
Geac SmartStream and Geac Enterprise Server Celebrate One-Year Anniversary of Acquisition
Successful first year under Geac management creates positive impressions among industry analysts, customers and employees
ATLANTA--(BUSINESS WIRE)--Nov. 11, 1997-- Geac SmartStream and Geac Enterprise Server announce the celebration of a successful first-year of business, functioning as two operating divisions of Geac Computer Corporation Ltd. (OTC BB:GEACF - news; TSE:GAC - news).
Geac purchased Dun & Bradstreet Software in November of 1996 and is reporting strong growth as the two companies become more tightly integrated.
''We are extremely pleased with the positive results we're seeing from both the SmartStream and Enterprise Server divisions,'' said William Nelson, CEO and president of Geac Computer Corporation Ltd. ''Significant successes in terms of product delivery and customer satisfaction far exceeded our expectations for the first year. As we move forward, Geac is committed to making SmartStream and Enterprise Server focal points of our growth strategy and leaders within their respective markets.''
Highlights of these successes include:
SmartStream actively signs on new customers and continues to expand at existing sites: More than 200 net new customers chose SmartStream customers during this past year and more than 1,100 new contracts were signed. While there was a change in ownership, there was no change in the strength and stability of SmartStream applications. SmartStream supports Microsoft SQL Server database: In March of 1997, Geac SmartStream expanded its reach by integrating its client/server business applications with the Microsoft BackOffice suite, resulting in a lower cost of ownership for a broader range of customers. Nearly 100 organizations have already purchased SmartStream on Microsoft SQL Server. Enterprise Server unveils new strategy for leveraging the mainframe: Geac Enterprise Server combined the processing power of the mainframe with the agility and ease-of-use of client/server and the Internet. The division leveraged its strong market position to form partnerships with technology leaders and deliver new technologies - such as data warehousing, electronic commerce, imaging and workflow - to its more than 2,500 customers. As well, Geac Enterprise Server launched an aggressive communications campaign, including a 13-city road show, to communicate this strategy directly to their customer base. Geac invests record R&D amounts: As a company, Geac invested more than $22 million in research and development efforts last quarter, much of which focused on SmartStream and EnterpriseServer. Geac receives Software Magazine's Editor's Choice Award for one of the top 13 most notable software companies in the world: In the July 1997 issue of Software Magazine, editors stated, ''Geac is notable for bold management moves that have created one of the software industry's largest vendors and a company to watch.'' Geac Computer Corporation reports record earnings: Geac reported strong operating results, achieving record revenues and income during the First Quarter of Fiscal 1998, which was highlighted by the 183 percent revenue growth and 258 percent net income growth over the same period last year. Geac becomes member of Toronto Stock Exchange 100: Geac was selected to be a member of the prestigious TSE 100 that highlights the top 100 Canadian companies investors should watch. Geac is one of only a few technology companies to appear on the list.
Positive Industry Feedback
Now owned and managed by a company that understands the unique needs of the software industry, having been in the technology business for 27 years, Geac SmartStream and EnterpriseServer divisions are receiving positive feedback from both analysts and customers.
Among the financial analysts who have followed Geac closely for years, Joe Vejvoda, technology analyst for Loewen, Ondaatje, McCutcheon, Ltd., claims, ''We've been impressed by how quickly and smoothly the two companies have integrated themselves. Since the acquisition, we have seen a new side of Geac emerge, one that is very focused on growing revenues internally through new product developments and strong partnerships in both the SmartStream and EnterpriseServer divisions. We feel company's strategy is well-defined and right on track.''
Among many long-standing customers, the feedback also has been very positive. For example, Atlanta-based Equifax, a leading provider of financial information and processing solutions, uses both SmartStream and EnterpriseServer products. Mary Delashmit, vice president of Human Resources Information Systems at Equifax, comments, ''We have been actively involved with the organization through several transitions, and we are excited about the potential that Geac brings to both product lines. We look forward to reaping the benefits of Geac's experience in the software industry and its commitment to keeping SmartStream and EnterpriseServer applications highly competitive in the marketplace by providing technologically innovative solutions.''
John Krulcik, SmartStream implementation team leader for Worthington Industries, also commented, ''Several years ago, we selected SmartStream Financials as a 'best of breed' solution for Worthington Industries. The strong partnership we have developed with the SmartStream Team has enabled us to meet an aggressive implementation schedule. We believe that the acquisition of SmartStream by Geac has added significant value to SmartStream's potential because of Geac's experience, resources and commitment to providing its customers with superior software solutions. We are committed to and look forward to a long and successful partnership with the Geac SmartStream team.''
Background Information
Geac Computer Corporation Limited delivers and supports total computer solutions, including complete mission-critical client/server applications to various cross-industry and vertical markets worldwide. Geac product and service information is available on the World Wide Web at geac.com, or through the Internet Email at solutions@geac.com . For more information on Geac SmartStream or Enterprise Server, call (404) 239-2000. Geac is a publicly traded company with its common shares listed on the Toronto Stock Exchange (Symbol: GAC) and included in the TSE100.
NOTE TO EDITORS: SmartStream and EnterpriseServer are registered trademarks of Geac Computer Systems, Inc. Other products or names may be trademarks or registered trademarks of their respective companies.
Dale |
