LONGUEUIL, QC, Dec. 22 /CNW Telbec/ - Mediagrif Interactive Technologies Inc. (TSX: MDF), a world-leading provider of e-commerce solutions, announced today that it has acquired all of the issued and outstanding shares of Laval based InterTrade Systems Inc. ("InterTrade") for a cash consideration of $8.1 million.
InterTrade (www.intertrade.com) offers innovative e-commerce solutions that allow its clients to efficiently manage and control their supply chain collaboration. In addition to its complete EDI (Electronic Data Interchange) solutions, InterTrade offers product-data-synchronization (catalogues) between retailers and suppliers. InterTrade's private catalogue solution caters to more than 20 retailers and 2,200 suppliers. Following this acquisition, InterTrade's clientele will continue receiving the same high quality service from InterTrade dedicated staff.
Mediagrif's e-commerce expertise and financial strength will help InterTrade accelerate its growth in this fast-growing sector. In parallel, Mediagrif's existing networks will be able to extend their product offerings and have access to a strong EDI platform. This transaction is expected to be immediately accretive to Mediagrif's earnings.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) delivers innovative e-commerce solutions to businesses since 1996. Its networks operate as dedicated Web platforms within specific business sectors, enabling Mediagrif's clients to find, purchase and sell products, to exchange information and to access business opportunities with greater speed and efficiency. Mediagrif provides e-commerce solutions in the fields of electronics components, computer equipment and telecommunications, medical equipment, automotive aftermarket, wine & spirits, diamonds and jewelry and government opportunities. Several of Mediagrif's networks are industry leaders, including The Broker Forum, Power Source On-Line, Market Velocity, Global Wine & Spirits, Polygon, BidNet and MERX. Headquartered in Longueuil, Mediagrif has several offices in North America and Asia. For more information, please visit us at www.mediagrif.com.
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.
For further information: For further information:
Mediagrif Interactive Technologies Inc.
Chief Executive Officer
Tel.: (450) 449-0102 ext. 2004
Toll Free: 1 877 677-9088 ext. 2004
Chief Financial Officer
Tel.: (450) 449-0102 ext. 2135
Toll Free: 1 877 677-9088 ext. 2135