RICHMOND, BC, Jan. 31 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that it has entered a strategic partnership with U.S. based ValueScape LLC, an
emerging leader of alternative property valuation solutions. Over the next two
years, MDA will make an equity investment of several million dollars to
finance the growth of the company. MDA will also have an option to acquire
100% of the equity in the future.
ValueScape offers a range of property valuation services, including its
proprietary Interactive Valuation Model (IVM). These valuation services will
complement MDA's existing property information and automated valuation
products. IVM is unique in that it now provides appraisers with direct access
to MDA's rich property data archive, and with powerful statistically validated
analytical tools, will more rapidly and accurately complete appraisals
required for mortgages and equity loans.
John Geddes, MDA vice president of strategic business development states,
'We believe that with the current emphasis on the integrity of collateral
valuation in the U.S., lenders will quickly see the benefits of this new
valuation product, which combine the advantages of validated tools and
techniques used in automated valuation models with the expertise of a
professional appraiser to better judge each individual situation.'
David Dill, CEO of ValueScape, added 'We are thrilled with the upside
this partnership represents, and are looking forward to benefiting from MDA's
data assets, knowledge, and support in realizing our vision to advance our
appraisal capabilities to a new level of efficiency and accuracy.'
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
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
MDA employs more than 3,000 people in locations across the United States,
the United Kingdom, and Canada. The Company's common shares trade on the
Toronto Stock Exchange under the symbol TSX:MDA.
ValueScape LLC was created by a group of dedicated individuals with more
than 70 years of cumulative experience as appraisers, appraisal business
owners, valuation technology experts, and industry thought leaders. With a
shared vision of combining their appraisal businesses and resources to build a
more efficient valuation services company, and by leveraging their proprietary
technology platform, ValueScape is positioned to achieve a strong competitive
advantage in the market.
ValueScape offers an integrated range of property valuation services,
from automated valuations to interactive desktop valuations and verifications,
and ultimately to full appraisals in the field. Its national platform of
valuation professionals utilizes the most advanced analytics and tools and
draws on a rich information base to deliver superior quality performance and
service to customers.
ValueScape has 75 employees and is headquartered in Lakewood, Colorado,
with an Eastern office in Salisbury, Maryland.
This release contains forward-looking statements and information, which
reflect the current view of MacDonald, Dettwiler and Associates Ltd. with
respect to future events and financial performance. 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. Additional information on these and other potential factors that
could affect MDA's financial results are detailed in documents filed from time
to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
For further information:
For further information: Wendy Keyzer, MDA External Relations, (604)