20-20 Technologies files business acquisition report for Planit* Fusion

    LAVAL, QC, Feb. 2 /CNW Telbec/ - 20-20 Technologies Inc. ("20-20") (TSX:
TWT) the world leader in 3D interior design and furniture manufacturing
software, announced that on February 2, 2009 it has filed its business
acquisition report (BAR) regarding its acquisition of the Planit(*) Fusion
business from Planit Holdings Ltd. which transaction closed on January 29,
2008. Pursuant to Section 8.2 of National Instrument 51-102 Continuous
Disclosure Obligations, 20-20 was required to file the BAR within 75 days of
the closing of the transaction.
    Due to Planit Holdings' difficulties in providing 20-20 with timely and
accurate financial statements and information, as well as the potential impact
relative to our claims against Planit Holdings Ltd, 20-20 has been unable,
until today, to ensure the reasonable accuracy of the information contained in
the required BAR and, as such, was unable to file such report within the
prescribed period.
    Despite the only recently filed BAR, all other material details regarding
the acquisition of Planit(*) Fusion business have been previously reported to
20-20's shareholders in duly disseminated press releases. As well, detailed
information concerning the transaction is contained in the listing statement
of 20-20 Technologies filed with SEDAR and is available on SEDAR's website at

    (*) Planit is a trademark used under license from Planit Holdings Limited

    About 20-20 Technologies Inc.

    20-20 Technologies is the world's leading provider of computer-aided
design, business and manufacturing software solutions tailored for the
interior design and furniture industries. Dealers and retailers use its
desktop and Web-based products and solutions for the residential and
commercial markets. 20-20 offers a unique proprietary end-to-end solution,
integrating the entire breadth of functions in interior design. It provides a
bridge for data communication from the point-of-sale to manufacturing and
world-leading enterprise resource planning (ERP) systems, including
computer-aided engineering and plant floor automation software. Operating in
12 countries with more than 590 employees, 20-20 is a publicly traded company
(TWT) on the Toronto Stock Exchange (TSX). For more information, visit

    Forward Looking Statements

    Certain statements contained in this press release constitute
forward-looking information within the meaning of securities laws.
    Implicit in this information, particularly in respect of future operating
results and economic performance of the Company are assumptions regarding
projected revenues and expenses. These assumptions, although considered
reasonable by the Company at the time of preparation, may prove to be
incorrect. Readers are cautioned that actual future operating results and
economic performance of the Company are subject to a number of risks and
uncertainties, including general economic, market and business conditions and
could differ materially from what is currently expected.
    For more exhaustive information on these risks and uncertainties you
should refer to our most recently filed Annual Information Form which is
available at www.sedar.com. Forward-looking information contained in this
report is based on management's current estimates, expectations and
projections, which Management believes are reasonable as of the current date.
The reader should not place undue importance on forward-looking information
and should not rely upon this information as of any other date. While the
Company may elect to, it is under no obligation and does not undertake to
update this information at any particular time, unless required by applicable
securities law.

For further information:

For further information: Rick Leckner, MaisonBrison, (514) 731-0000

Organization Profile

20-20 Technologies Inc.

More on this organization

MaisonBrison Communications

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890