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CALGARY AND VANCOUVER, July 2, 2013 /CNW/ - Sylogist Ltd. (TSXV:SYZ)
("Sylogist") is pleased to announce the completion on July 1, 2013 of
the acquisition of all the common shares of Epic Data International
Inc. (previously TSXV:EKD) ("Epic Data"). The transaction, which was
completed through a court approved plan of arrangement (the
"Transaction") under the Business Corporations Act (British Columbia), was previously announced on May 8, 2013.
"In Epic Data, we have acquired a very well-recognized software
development, hardware design and support organization. Over the past
three decades Epic Data has established an enviable customer base with
expertise in the enterprise application software field, in particular
with its manufacturing execution systems, data collection platform
software and warehouse management application software. In addition,
Epic Data's revolutionary rugged tablet, UniView, fills a large market
gap in the industrial mobile and shop floor application space," stated
Jim Wilson, Sylogist's President and CEO. "This acquisition is highly
strategic and synergistic for Sylogist, giving us expanding operations
in Canada, the United States and Europe. The addition of Epic Data's
technology platforms, 17 experienced employees, Fortune 500 customer
base, recurring revenue and approximately $40 million in tax pools to
our own business provides a strong cash flow growth vector. We welcome
to Sylogist the former Epic Data staff who are joining us in Richmond,
B.C., Fort Worth, Texas and Newbury in the United Kingdom."
Sylogist is a technology innovation company which, through strategic
acquisitions, investments and operations management, provides
enterprise application software to public and private sector customers.
The Company's stock is traded on the TSX Venture Exchange under the
symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.
About Epic Data International Inc.
Epic Data International Inc., which amalgamated with Sylogist on July 1,
2013, has produced manufacturing execution and warehouse management
solutions for nearly 40 years. Epic Data solutions synchronize supply
chain and production activities to achieve real-time visibility of
manufacturing metrics that reduces cycle times and costs, optimizes
production planning and control, and boosts quality and efficiency.
The solutions are easily implemented either by module or as a
completely integrated solution suite across the global enterprise.
Customers include Beechcraft, Lockheed Martin, Bell Helicopter,
Komatsu, Bombardier Learjet, CAE Inc., Kingfisher (B&Q) plc, Joy Mining
Machinery, Cobham Defence Communications Ltd., GE Aircraft Engine,
Contour Premium Aircraft Seating, McBride plc, Phoenix Contact,
Rolls-Royce and Volvo.
In this document and in other documents filed with Canadian regulatory
authorities or in other communications, Sylogist may from time to time
make written or oral forward-looking statements within the meaning of
applicable securities legislation, including statements regarding
Sylogist's business plans and financial objectives. These statements
typically use words such as prospects, believe, estimate, forecast,
project, expect, anticipate, plan, may, should, could and would, or the
negative of these terms, variations thereof or similar terminology. By
their very nature, forward-looking statements are based on assumptions
and involve inherent risks and uncertainties, both general and specific
in nature. It is therefore possible that the forecasts, projections
and other forward-looking statements will not be achieved or will prove
inaccurate. Although Sylogist believes that the expectations reflected
in these forward-looking statements are reasonable, it provides no
assurance that these expectations will prove to have been correct.
Sylogist cautions readers against placing undue reliance on
forward-looking statements when making decisions, as the actual results
could differ considerably from the opinions, plans, objectives,
expectations, forecasts, estimates and intentions expressed in such
forward-looking statements due to various material factors. Among
other things, these factors include fiscal and economic policies,
changes in interest and foreign exchange rates, and general economic
conditions, legislative and regulatory developments, competition and
access to capital. Sylogist further cautions that the foregoing list
of factors is not exhaustive. For more information on the risks,
uncertainties and assumptions that would cause Sylogist'ss actual
results to differ from current expectations, please also refer to
Sylogist's public filings available at www.sedar.com. Sylogist does not undertake to update any forward-looking
statements, whether oral or written, made by itself or on its behalf,
except to the extent required by securities regulations.
- Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release-
SOURCE: Sylogist Ltd.
For further information:
Jim Wilson, President and CEO