Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Microforum (MCF:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: pud* who wrote (255)	1/7/1999 10:16:00 AM
From: Link Lady	Respond to of 3896

Not about MCF but found article interesting. canoe.com Thursday, January 7, 1999 National Bank subsidiary buys into e-commerce consultancy firm MultiHexa-MLLA By ROBERT GIBBENS The Financial Post The National Bank of Canada is getting deeper into business-to-business electronic commerce via its 100%-owned SIBN subsidiary. SIBN, launched in 1995 with 575 employees and revenue of $75-million last year, is buying a 25% stake in Quebec City-based MultiHexa-MLLA, a leading consultant and project manager in the e-commerce services sector. Neither company would disclose the terms of the deal, but Remy Racine, MultiHexa-MLLA chairman, said in Quebec City the bank unit paid "several million dollars. "We were looking for a strategic partner to help us finance burgeoning growth over the next few years in business process management, systems integration, and computer-assisted training," Mr. Racine said. His 15-year-old firm, with 450 employees and annual revenue of $40-million, is a merger of five companies and has 18 offices in Quebec, Ontario, Lebanon, and Morocco. It has provided systems training for more than 400,000 people and its clientele includes several of Quebec's biggest companies. "SIBN's annual growth rate will be 30% over the next few years," said Natalie Lariviere, vice-president and general manager. "We've got 15,000 business clients across Canada and we specialize in financial transactions, purchasing, payments, payroll, and human resource management, especially for small and medium-sized businesses." The Internet is rapidly becoming a business tool, she added, and e-commerce on the Internet could reach a volume of $500-billion (US) by 2002. "Businesses must adapt and we'll now be able to offer global solutions to their problems with full training for their personnel from a resource of 1,000 e-commerce specialists," Ms. Lariviere said. "We're targeting growth across Canada first and later the U.S., where the bank has 23 offices serving business clients."