Quisitive Announces Completion of Acquisition of Corporate Renaissance Group
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Toronto, Ontario / TheNewswire / June 7, 2019 – Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) (TSXV: QUIS), a premier Microsoft solutions provider and Microsoft 2019 US Partner of the Year is pleased to announce the closing of the previously announced acquisition of Corporate Renaissance Group Inc. (“CRG”), a leading provider of Microsoft technology, corporate consulting, and business software and systems based in Ottawa, Ontario (the “Transaction”). The transaction was previously announced on June 5, 2019.
“The completion of the CRG acquisition sets the foundation for our M&A strategy,” said Quisitive chief financial officer Stephanie Ratza. “This is the second acquisition in our M&A consolidation strategy, and we are excited to leverage CRG’s recurring revenue as another key step in our strategy to shift our revenue mix from professional services to a more predictable recurring revenue model that has higher operating margin.”
“We’re excited about joining forces with Quisitive,” said CRG president Dr. Vijay Jog. “Not only will this combination enable us to scale our Dynamics 365 enterprise performance business throughout North America, it also provides the foundation to expand our cloud service offerings by leveraging Quisitive’s Microsoft Azure and Microsoft Office 365 expertise. Our complementary business solutions in combination with our award-winning talent management platform CRG emPerfom, put us in an enviable position to help customers achieve their desired business outcomes with world-class enabled technology platforms”
Quisitive is a premier Microsoft solutions provider that helps customers navigate the ever-changing technology climate that their business relies upon. With a legacy of innovation and deep technical expertise, Quisitive is empowering the enterprise to harness the Microsoft cloud and emerging technologies such as blockchain, artificial intelligence, machine learning, and the Internet of Things (IoT) like never before through customized solutions and first-party cloud-based products. Quisitive is uniquely comprised of former Microsoft leaders and technologists who share a deep understanding of market needs and the appropriate application of Microsoft cloud technology. The company’s expertise and focus are on helping industries such as financial services, manufacturing, oil and gas, and retail, drive innovation through the use of Microsoft cloud-based technologies. Quisitive serves clients across North America with offices in Dallas, TX; Denver, CO; Minneapolis, MN, Ottawa, ON and Toronto, ON. For more information, visit http://www.Quisitive.com and follow @BeQuisitive.
Since 1989, CRG has been delivering expert guidance and leading solutions to help improve business management and performance, consisting of a group of business, financial and technology experts helping leaders transform organizations by improving enterprise performance. With over 4,500 customers worldwide, CRG has established itself with expertise in business management, financial management, consulting and software development. Working with its technology partners such as Microsoft, BOARD, Adaptive Insights, Tableau and Atlassian, CRG delivers solutions in Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Office 365 (O365), Corporate Performance Management (CPM), Employee Performance Management (EPM) and Business Intelligence (BI). These solutions and more cover the full business spectrum, consistent with the Level 7 Framework. To learn more about CRG, visit www.crgroup.com.
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Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Generally, any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information or statements. The forward-looking information or statements in this news release may relate, among other things, to: the anticipated benefits of the Transaction to Quisitive and its shareholders; the future growth potential of the Company on a post-Transaction basis; the intention to scale operations and make technology investments; the accretive nature of the Transaction, including expected synergies thereof; and future financial performance.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected results from the completion of the Transaction; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the technology industry; unproven markets for the Company’s product offerings; lack of regulation and customer protection; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; network security risks; the ability of the Company to maintain properly working systems; foreign currency trading risks; use and storage of personal information and compliance with privacy laws; use of the Company’s services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; changes in project parameters as plans continue to be evaluated; and those factors described under the heading "Risks Factors" in the Company's most recent management discussion & analysis dated April 30, 2019 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the company believes, or believed at the time, to be reasonable assumptions, the company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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