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Nstein Technologies Negotiating to Acquire Alis Technologies
Montreal (ots/PRNewswire) -
- Acquisition of Alis subject to the signature of final agreements and certain other conditions, as well as regulatory approval
Nstein Technologies Inc. (TSX-V: EIN) announced today that it is negotiating the acquisition of Alis Technologies ("Alis"), a world leader in multilingual information management software solutions that help large corporations and organizations ("Global 2000") communicate more efficiently in a multilingual environment and on the Internet. Alis has over 50 customers, mainly in North America and Europe. It is based in Montreal and has offices in North America and France.
- The planned transaction is subject to certain conditions, including:
an operational, financial and organizational restructuring completed
of Alis, requiring an investment of approximately CAD$3.5 million by
strategic Canadian and American partners.
- Upon closing of the transaction, Alis's new financial position will
be characterized by CAD$2.7 million in cash, a net value of
approximately CAD$2 million and expected revenue of CAD$4 million for
the next 12 months for a forecast 15% profitability.
- Alis's only long-term liability at closing is expected to be
CAD$750,000 in interest-free debt repayable over 10 years in annual
instalments based on a percentage of the cash flow generated by
- The planned transaction will enable Nstein to capitalize on a large
portfolio of international customers consisting primarily of
European and North American "Global 2000" companies.
- The planned transaction will also enable Nstein to capitalize on a
sales force already working with major customers and skilled at
selling Nstein solutions, and on internationally-recognized
solutions that complement its own technology.
- Nstein considers the risks associated with integrating the
commercial, legal, organizational, technological and administrative
aspects of Alis to be minimized due to a detailed strategic plan
involving all Nstein's senior management. Execution of the plan will
be closely monitored on an ongoing basis.@@end@@
The terms of the proposed agreement to acquire Alis Technologies provide for Nstein to issue 35,185,185 common shares at CAD$0.27 per share, subject to voluntary escrow for a 24-month period. The acquisition of Alis is subject to the signature of final agreements and certain conditions mentioned above, as well as regulatory approval.
Nstein Technologies is presently unable to confirm whether or not this transaction will go ahead or whether it will go ahead in accordance with the parameters presently being contemplated. Nstein will issue a press release once the situation is clarified.
About Alis Technologies
Alis Technologies is a world leader in Multilingual Information Management solutions integrated in large corporations and organizations business processes. Alis helps businesses communicate more effectively in multilingual business environments and on the Internet. Whether for consulting services, Web site or software localization, professional or automated translation (gisting), Alis is your partner for your Multilingual Information Management Challenges. Alis provides solutions to partners and customers such as IBM, Rohm and Haas, GE Capital, Sister Cities International, Government of Canada, Suez, Pictet & Cie Banquiers, Carrefour, Ministry of Defence (France), Bombardier and Siemens. With offices in North America and Western Europe, its head office is located in Montreal, Quebec. For more information, please visit: www.alis.com
About Nstein Technologies Inc.
Nstein Technologies, (TSX-V: EIN), an innovative software development company, provides large corporations and organizations with a Global Intelligent Information Management (GIIM) platform for structured and unstructured multilingual data sources. This flexible platform assimilates, organizes, analyzes (text mining), 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. and New York. More information is available at www.nstein.com .
@@start.t2@@ - 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.@@end@@
ots Originaltext: Nstein Technologies Inc.
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