ODESIA Expands into Mexico: Announces Proposed Acquisition of Resource IT


    MONTREAL, Nov. 1 /CNW Telbec/ - ODESIA Group Inc. ("ODESIA") (TSX
VENTURE:ODS) has signed a share purchase agreement to acquire Queretaro-based
Resource IT Mexico (Resource IT) - a Business Intelligence organization with
good strategic fit - for a total payment of $2 million CAD, $1 million in
cash, of which $125, 000 will be paid at the closing, and the balance in
2,222,222 ODS shares priced at $0.45 per share. The transaction is expected to
close on or about November 29, 2007, subject to customary approval by
applicable securities regulatory authorities, including the TSX Venture

    About Resource IT

    Resource IT Mexico serves the Financial Services and Technology sectors
in Queretaro, in Monterrey and Mexico City, as well as clients in Panama and
London, UK. Resource IT shares an expertise with ODESIA, offering Business
Solutions. The firm has 64 employees including 50 ORACLE Consultants who
service a sizeable customer base, including major players in finance (HSBC),
technology (Televisa) and service and distribution (PEMEX).

    The Strategy

    Since going public in December 2005, management at ODESIA has expanded
aggressively through acquisition and through organic growth. Last year ODESIA
entered the European market by acquiring 70% of BI-Expert in Paris. Now, with
Resource IT, ODESIA gains access to established clients in Mexico, Panama and
the U.K.
    "ODESIA will offer global solutions and multi-point services from offices
in Canada, Europe and Mexico. This acquisition opens the door to growing our
business in Latin America," said Nicolas Bonnafous, CEO of ODESIA. "We created
a model of our thriving business in Canada to implement in our expansion
strategy. We've successfully replicated this 'footprint' in France and
Switzerland and have no doubt significant synergies and improved operational
margins will be exploited by this acquisition as well."
    The consolidated pro-forma financial results will represent an
improvement in terms of revenues and earnings before interest, tax and
amortization. For the first six months of 2007, consolidated pro-forma
revenues would be $ 7.8 million compared with $10.2 million for the complete
2006 fiscal year. Earnings before interest, tax and amortization would be $
617 880 for the first six months of 2007, compared with $ 803 082 for the full
fiscal year of 2006.

    About ODESIA Group

    ODESIA Group is a Canadian-based international corporation specializing
in BI solutions, decision processes, and data warehousing for large
corporations. The management team at ODESIA has extensive knowledge and
experience in leading the execution of BI processes in large enterprises. The
team of nearly 150 professionals offers a high level of service and
specialization. The partnerships that ODESIA has formed with diverse BI
service providers constitute a further important feature of its offering. The
Company's goal is to provide customers a complete solution, no matter the
technical challenge. For more information, see www.odesia.com .

    This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this cautionary
    The TSX Venture Exchange has neither approved nor disapproved of the
    information contained herein

For further information:

For further information: Nicolas Bonnafous, President and CEO, ODESIA
Group, (514) 876-1155 ext. 102, nbonnafous@odesia.com; Nicole Blanchard,
Managing Partner, Sun International Communications, (450) 973-6600,
nicole.blanchard@isuncomm.com; www.odesia.com

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