FOR IMMEDIATE RELEASE
Corum Leads Acquisition of RIS by Sierra Systems
BELLEVUE, Wash., December 5, 2007 Corum Group Ltd. is pleased to announce the acquisition of its client, RIS, Inc., a Calgary-based provider of applications support maintenance services (ASM), by Sierra Systems, Inc., a Vancouver-based provider of information technology and management consulting services.
Its a natural extension of our vision for applications support and maintenance, and our strategy for leadership in niche IT services, said Dr. Peter Thompson, president, CEO and founder of RIS. For our clients and our team - many of whom have been with us from day one - it means even greater resources, services and opportunities.
This synergistic acquisition was an exceptional fit for both companies, said Marshall Warwaruk, vice president of Corum Group. This is a complete lifecycle management transaction which produces virtually no overlap in geographic or client coverage, and the services offerings were extremely complementary.
Golden Gate Capital, the San Francisco-based private equity investment firm that took Sierra Systems private earlier this year, supported Sierra in the acquisition. The opportunities created by combining these two organizations with very complementary services offerings, vertical expertise, and geographical presence will position the combined company to achieve the next stage in its growth, said David Dominik, managing director of Golden Gate Capital.
About RIS
RIS is the Applications Support and Maintenance company. Since 1979, RIS has been supporting, maintaining and enhancing mission-critical applications for some of North Americas largest and best run companies, reducing their support costs by as much as 40 percent. RIS proprietary tools, methodologies and delivery models also allow clients to increase the productivity of their existing applications, while freeing up internal resources to focus on more strategic priorities. The Branham300 has named RIS one of the top Canadian IT Professional Services Companies for seven consecutive years. For additional information, visit www.risglobal.com.
About Sierra Systems
Since 1966, Sierra Systems Group Inc. has been enabling enterprise success by delivering superior information technology and management consulting solutions. Through our extensive experience in management consulting, solutions delivery and managed services, Sierra Systems has emerged as a trusted advisor to many leading private and public sector organizations across North America. With offices in Austin, Calgary, Edmonton, Fredericton, Halifax, Hartford, Los Angeles, Olympia, Ottawa, Seattle, Toronto, Vancouver, Victoria and Winnipeg, our consultants are never far from our clients. In justice, health, government and various other industries, Sierra Systems continues to win exciting engagements in the face of stiff competition. Visit us at www.SierraSystems.com.
About Corum Group
Corum Group Ltd. is the global leader in merger and acquisition services, specializing in serving software and information technology companies worldwide. With 14 offices globally, Corum has completed over US $6 billion in transactions in 15 countries in its over 20-year history, and publishes the industrys most widely distributed M&A research. Corums principals are highly experienced former tech CEOs, who are supported by the industrys leading researchers, writers and valuators. The company has spent more than US $20 million to build the worlds largest buyer database to help ensure unparalleled success in client engagements. For additional information, visit www.corumgroup.com.
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