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Nstein Technologies Announces Completion of Alis Technologies Acquisition
Montreal (ots/PRNewswire) -
- Alis restructuring completed:
- Mercury Partners and I.U.GO Ventures have invested approximately CDN$3.5 million in Alis on behalf of European and Canadian investors.
- Alis has CDN$2.7 million in cash and a net value of CDN$2 million. Its only long-term liability is CDN$750,000 in debt repayable over 10 years in annual instalments based on a percentage of cash flow generated by Alis's activities.
- Alis is expected to generate CDN$4 million in revenues over the next 12 months for a forecast 15% profitability.
- Acquisition of Alis's large portfolio of international customers consisting primarily of European and North American Global 2000 companies.
- Sales force already working with major customers and apt at selling Nstein solutions.
- Issuance of 35,185,185 common shares of Nstein to Alis shareholders.
Nstein Technologies Inc. (TSX-V: EIN) announced today that it has completed the acquisition of Alis Technologies ("Alis"), a world leader in multilingual information management software solutions that help large corporations and organisations ("Global 2000") communicate more efficiently in a multilingual environment and on the Internet. Alis has over 50 customers, mainly in North America and Europe.
"Nstein is proud to announce the acquisition of Alis Technologies, a Canadian pioneer of automated translation solutions and localisation," stated Mr. Mario Girard, Chairman and Chief Executive Officer of Nstein Technologies. "This transaction marks a milestone in the implementation of the acquisition strategy we introduced in 2004, providing us with a large portfolio of international customers, an important asset in the deployment of our innovative solutions."
The Company confirmed that all conditions of the Alis Technologies acquisition have been met to its full satisfaction, including the investment of approximately CDN$3.5 million called for by the restructuring plan. "I.U.GO Ventures and Mercury Partners will be actively involved in facilitating Nstein's penetration of large corporations and organisations worldwide, thanks to their vast network of contacts," Mr. Girard added.
"This transaction will enable two cutting-edge technologies to be integrated to address the significant demand in Europe and North America for unstructured multilingual information management," indicated Mr. Rainer Busch, Managing Partner of Mercury Partners.
According to Mr. Christian Chagnon, Managing Partner and Co-founder of I.U.GO Ventures, "This transaction is a landmark in the consolidation of the large pool of expertise in the Montreal region, allowing Nstein to establish an international hub for multilingual unstructured information management, similar to the one we have in the multimedia industry."
The acquisition also provides Nstein with access to a sales force already working with major customers - particularly in Europe, where Alis has a sales office (Paris) - and apt at selling the full range of Nstein solutions. "Alis has demonstrated its leadership in an area complementary to Nstein's, namely multilingual information management and globalisation," said Mario Lapointe, Vice President, Sales at Nstein Technologies and former Vice President, Sales and Marketing for Alis. "The synergy of the platforms developed by Alis and Nstein will lead to a highly strategic integration of our solutions at multinationals and large organisations."
Mr. Claude Lemay, former Chairman of the Board of Alis, will act as a consultant to Nstein and will be actively involved in business development, primarily in Europe and the United States.
About I.U.GO Ventures
I.U.GO Ventures, a Montreal-based strategic venture "catalyst", invests in technology companies around the world. I.U.GO Ventures is committed to the development and deployment of technologies for consumers and businesses. I.U.GO wants to join entrepreneurs to connect ideas with their expertise, and shape the future. I.U.GO. is able to leverage a network of entrepreneurs, corporations, and industry experts to build world-class companies. (www.iugo.com)
About Mercury Partners
Mercury Partners is a private equity investment management firm based in Geneva. It invests in private companies with good growth potential, generally based in Europe or North America. It has invested through venture capital funds in over 150 companies to date. The companies in Mercury Partners' portfolio benefit from its corporate development expertise and network.
About Nstein Technologies Inc.
Nstein Technologies, (TSX-V: EIN), an innovative software development company, provides large corporations and organisations with a Global Intelligent Information Management (GIIM) platform for structured and unstructured multilingual data sources. This flexible platform assimilates, organises, analyses (text mining), translates, shares and disseminates information essential to operational and decision-making processes. Nstein's GIIM-based solutions provide decision-makers with highly pertinent information and transform reactive decision-making into a proactive and even predictive process. Nstein offers new Business Intelligence (BI) solutions that create a new level of global knowledge, accessible at any time, particularly suited to e-publishing, finance, legal, government and homeland security markets. Nstein is based in Montreal, Canada with a customer-facing presence in Boston, San Francisco, Washington D.C., New York and Paris. More information is available at www.nstein.com .
- The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
- Any and all statement that may be prospective shall not be interpreted as such.
ots Originaltext: Nstein Technologies Inc.
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