MONTREAL, QUEBEC -- (Marketwire) -- 12/13/12 -- ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE: ODS), an international corporation specialized in Enterprise IT solutions, announces its 2012 Corporate Update.
2012 has been driven by the successful completion of two strategic acquisitions and strong organic growth from our Montreal and Paris offices. "Our development plan announced in late 2011 is generating significant growth and is confirming progress in our quest for continued growth and profitability" stated President and CEO, Nicolas Bonnafous.
-- The company welcomed Mr. Vittorio Violo and Mr. Meir Levi to its board of directors. Their experience in corporate finance and management of International sales is expanding our board's expertise;-- Interfacing Technologies Inc. was acquired in May 2012, for $1.31M and issuance of 4 million shares; EPC 7.5 our Award-winning BPM product is sold in 25 countries around the world to fortune 500 companies;-- A Private Placement of $750,000 with Fonds Cote100 REA II Inc. was completed in June 2012;-- Gestion Passerelle inc. a Consulting company was acquired in mid- September 2012, for $862,000 and issuance of 300,000 shares. This acquisition was immediately accretive to earnings and actually operates on an annual revenue rate of $3.5M;-- As at the end of the third quarter the company operates on an annualized revenue run rate of approximately $16,000,000.-- The company continues to evaluate potential acquisition in the BIG DATA field to achieve its Unified Business Intelligence Strategy.
Hiring of Senior Managers
The hiring of experienced executives in 2012 allowed ODESIA to increase its domestic and international business volume significantly.
-- General Manager of Operations for consulting services;-- VP of Strategic Direction and Business Development;-- Marketing Manager-- Sales Manager for consulting services in Paris-- BPM Product Development Manager
2013 Growth Outlook
More acquisitions - Under the leadership of Mr. Richard Brossoit, the Company will continue to evaluate opportunities for rapid growth in growing markets.
Stronger in Big Data - The growing market of Big Data will create a strong demand for our services. We will ensure that the Company has a strong position in this market.
Sustainable organic growth - A management team is now in place securing existing market position and insuring a sustainable organic growth.
ODESIA Group Inc. is a global technology provider that offers innovative Enterprise IT Solutions and Services. Odesia is specializing and has expertise in Business Intelligence, Big Data Analytics and Process Management. Odesia's vision is to continue growing into a global player in the Enterprise IT Service and Software industry by consolidating its BI, PBM and Big Data Strategies in one Unique Solution called the Unified Business Intelligence (UBI). ODESIA's mission is to empower enterprise level companies with the ability to improve the efficiency of operations, enhance process performance and make better business decisions by mastering the right information, at the right time, and the right place.
ODESIA is listed on the Toronto Venture exchange under the symbol "ODS".
For a copy of the latest company presentation, and brochure, please visit us at www.odesia.com
Disclaimer in regards to forward-looking statements
This press release contains forward-looking statements which reflect ODESIA's current expectations regarding future events and may involve risks or uncertainties. Actual results could differ materially from those projected herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ODESIA Group Inc.
Mr. Nicolas Bonnafous
President and Chief Executive Officer
514.876.1155 ext. 102
Toll Free: 1.855.876.1155