RICHMOND, BC, Jan. 4 /CNW/ - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced that it has closed the sale of its Property Information business. This business, which provides property information to insurance companies, lenders, and legal professionals primarily in the U.S. and Europe, has been acquired by TPG Capital.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About TPG Capital
TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $48 billion of assets under management. The firm's investment philosophy has been to create value by investing in change - change created by industry trends, economic cycles or specific company circumstances. TPG provides creative capital, structured for each investment opportunity and offers its wealth of experience, industry expertise, deep operating skill sets and large global network of affiliated partners as a vital resource from which management can draw strategic, financial and operational guidance. TPG invests in companies across a broad range of industries and geographies. Its goal is to help management teams build long-term value that benefits all stakeholders.
This press release may contain certain forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. ("MDA") with respect to the sale of its information products business. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "plan", "foresee", "believe" or "continue" or the negatives of such terms or variations of them or similar terminology. Any such forward-looking statements are based on MDA's current expectations, estimates, projections and assumptions made in light of its experience and its perception of historical trends. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. The risks that could cause actual results to differ from current expectations include general economic and regulatory changes; detrimental reliance on third parties; and failure of counterparties in financing arrangements.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, you are referred to the risk factors described in MDA's most recent annual Management's Discussion and Analysis, Annual Information Form and other documents on file with the Canadian securities regulatory authorities, available online at http://www.sedar.com or www.mdacorporation.com. The forward-looking statements and information contained in this press release represent MDA's views only as of today's date. MDA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law, rule or regulation. You should not place undue reliance on forward-looking statements.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
SOURCE MacDonald, Dettwiler and Associates Ltd.
For further information: Wendy Keyzer, MDA External Relations, (604) 231-2743, firstname.lastname@example.org