CALGARY, May 19 /CNW/ - Sylogist Ltd. (TSX VENTURE:SYZ) ("Sylogist" or
the "Company") is pleased to advise that it has completed its previously
announced (May 2, 2006) acquisition of Bellamy Software ("Bellamy"), a
division of Nor-Dat Computer Services Ltd of Edmonton, Alberta.
Bellamy Software has provided systems and support services to the public
sector market for more than 25 years. Bellamy is the largest supplier of
municipal systems software in Alberta. The acquisition also provides Sylogist
with exposure to customers in Saskatchewan, Manitoba, Ontario and the Yukon.
The combined annual operating budgets of these public sector customers exceed
$2 billion.
Bellamy's customers, which include over 60 municipalities, 16 school
boards and 5 regional utilities, and the entire Bellamy staff have
overwhelmingly supported the acquisition. "We are thrilled that Bellamy
Software and its talented staff have joined Sylogist and with the support the
acquisition has received. We are very excited about the addition of a strong
public sector customer base and our collective growth plans" stated Jim
Wilson, President and CEO of Sylogist.
Further, Sylogist is pleased to announce that Mr. Dan Hinchey, Managing
Director, Mr. Ken Shelton, General Manager and Mr. Mike Paradis, Chief
Architect of the Bellamy Software division, will continue in their roles as
Sylogist employees. "Dan, Ken and Mike are very well known and extremely well
regarded in the public sector market. They bring a wealth of knowledge and
experience to this growing area of our operations. On behalf of our board,
management and staff, we welcome Dan, Ken, Mike and the entire Bellamy staff
to Sylogist" added Jim Wilson.
"Our mutual plans for growth are well aligned which will ensure that we
can extend the capabilities of one of the most successful companies in this
market. We are very eager to begin working with Sylogist on this new phase in
the evolution of Sylogist and Bellamy Software" stated Dan Hinchey.
About Bellamy Software
Established in Edmonton Alberta in 1979, Bellamy Software develops,
implements and supports a fully integrated line of software solutions for
public sector clients. Bellamy serves over 80 customers including cities,
towns, counties, school boards and regional utilities, primarily in Western
Canada.
About Sylogist Ltd.
Sylogist delivers information management and technology solutions to
government and industry clients. The Company's solutions are designed to
improve productivity for both conventional computer based workers and mobile
workers. Sylogist's software solutions, along with related services are
delivered to a global base through its own sales and delivery organization, as
well as through OEM channels.
-The TSX-Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release-
The Company's stock is traded on the TSX Venture Exchange under the
symbol SYZ. Information about Sylogist can be found at
http://www.sylogist.com.
Forward-looking statements: This press release contains statements about
expected or anticipated future events and financial results that are forward-
looking in nature and, as a result, are subject to certain risks and
uncertainties, such as general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation, competitive
and general economic factors and conditions, the uncertainties resulting from
potential delays or changes in plans, the occurrence of unexpected events, and
the Sylogist's capability to execute and implement its future plans. Actual
results may differ materially from those projected by management.
Although Sylogist believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should not be placed
on them because Sylogist can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties.
The forward-looking statements contained in this press release are made
as of the date hereof and Sylogist undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required by
applicable securities laws.
