QUEBEC, June 11 /CNW Telbec/ - Fortsum Business Solutions Inc. (Fortsum
Business Solutions) (TSX Venture Exchange: FRT) announces today the signature
of a letter of intent to acquire all issued and outstanding shares of Centre
informatique Micro-Accès Inc. (Micro-Accès), excluding activities associated
with its site PetitMonde.com. Fortsum Business Solutions currently holds 6.8%
of the shares of this company.
Founded in 1988, Micro-Accès is a Québec company providing integrated
management software and electronic business solutions adapted for childcare
and daycare centres throughout Canada, but mainly within Quebec. Revenues
generated by Micro-Accès, with regard to the intended transaction, totalled
$2.8M for fiscal year 2006.
"Given the transaction to acquire Micro-Accès closes, we will add a new
vertical market to our activities, affirming our leadership position in
Québec's business and financial technologies market," explained Chief
Executive Officer, François Taschereau. "As the leader in its sector within
Québec, Micro-Accès benefits from a business model that will ensure us a
significant base of recurrent revenues and new subscriber customers, which is
in line with the growth-by-acquisition strategy for our Software Manufacturing
segment. Micro-Accès's proven technology combined with opportunities offered
by various provincial governments, which intend to allocate large sums to the
childcare sector over the next few years, are positive factors indicating
potential significant development opportunities for the Corporation," said
Taschereau. "I would like to add that we are proud to welcome Micro-Accès to
our family of companies and that we will offer Micro-Accès's distinguished
clientele all our expertise to ensure continued top-notch service," concluded
The projected transaction is subject to a due diligence verification and
approval of the appropriate authorities. As mentioned above, the agreement
excludes Micro-Accès's PetitMonde.com division, including its revenues,
expenses, assets and employees. The purchase price is currently estimated at
approximately 9% of Fortsum Business Solutions' total assets as of March 31,
2007. The Corporation, which already holds 6.8% of Micro-Accès's shares, plans
to pay the entire cost of the acquisition in cash upon closing. Fortsum
Business Solutions and Micro-Accès hope to sign a final agreement between June
27 and July 12, 2007.
With 18 years of experience and leadership in the market, Micro-Accès
sets itself apart from the competition with a completely integrated solution,
which is more powerful and more comprehensive than the competition's, allowing
it to optimize operations in childcare and daycare centres. Located in
Montréal with some thirty employees, Micro-Accès holds nearly 90% of the
childcare centre market and about 50% of the private daycare market within
Québec. For more information: www.micro-acces.com.
About Fortsum Business Solutions
Fortsum Business Solutions Inc. is mainly involved in the development,
integration, marketing and support of accounting, commercial and banking data
management software. For more information: www.fortsum.com.
This press release may contain forward-looking information. Statements
based on current management expectations involve inherent risks and
uncertainties, both known and unknown. Actual results may vary from forecasts.
The reader should not place undue faith in forward-looking information.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the release.
For further information:
For further information: Fortsum Business Solutions Inc.: François
Taschereau, Chief Executive Officer, email@example.com, Dany Beaudet,
Shareholder Communications Coordinator, firstname.lastname@example.org, (418) 877-3003,
ext. 2272, Toll-free: 1-888-268-0088, Fax: (418) 877-9994