LONGUEUIL, QC, May 17, 2016 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. (TSX: MDF), a Canadian leader in e-commerce solutions, announced today that it has entered into a definitive agreement to acquire all of the assets of Advanced Software Concepts, Inc. ("ASC") for a cash consideration of $18,5 million. The closing of the transaction is subject to certain standard conditions. Closing of the transaction is expected to take place on or about May 31, 2016.
ASC (www.ascnet.com) offers best-in-class contract lifecycle management solutions (CLM) to a diversified clientele, principally in North America.
With this strategic acquisition, Mediagrif will be integrating contract management capabilities to its e-procurement platforms, MERX and BidNet. This will allow Mediagrif to participate aggressively in the fast growing e-procurement space.
Moreover, Mediagrif's expertise and financial strength will contribute to accelerate ASC's presence in the equally fast-growing CLM segment.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a Canadian leader in information technology, owner of several recognized web and mobile platforms including MERX, InterTrade, BidNet, Carrus, Jobboom, LesPAC and Réseau Contact . Mediagrif's e-commerce solutions are used by millions of consumers and businesses in North America and around the world. The Company has offices in Canada, the United States and China. For more information, please visit us at www.mediagrif.com or call 1 877 677-9088.
Forward Looking Statement
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. All amounts are in Canadian dollars.
SOURCE Mediagrif Interactive Technologies Inc.
For further information: Mediagrif Interactive Technologies Inc.: Claude Roy, President and Chief Executive Officer, Tel.: (450) 449-0102 ext. 2004, Toll Free: 1 877 677-9088 ext. 2004, Email: firstname.lastname@example.org; Paul Bourque, Chief Financial Officer, Tel.: (450) 449-0102 ext. 2135, Toll Free: 1 877 677-9088 ext. 2135, Email: email@example.com