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TECSYS Divests its Interest in TECSYS Latin America Inc.; Reaffirms Reseller Agreement(April 26, 2012)
MONTREAL, QUEBEC -- (Marketwire) -- 04/26/12 -- TECSYS Inc. (TSX:TCS), an industry-leading supply chain management software company, announced today that it has divested its 30% equity interest in TECSYS Latin America Inc. ("TLA"). TECSYS has been an equity investor since 2005. TLA serves customers in 15 Latin American and Caribbean countries and is a reseller of TECSYS Inc.'s ("TECSYS") supply chain management software and other solutions in these regions under a distribution agreement which remains in effect.
Peter Brereton, President and CEO of TECSYS Inc., commented on the divestiture: "Due to the limited size of the local market that it serves, TLA needs the freedom to deal in a broader range of product than TECSYS can supply. This agreement allows TLA to continue to broaden its offering, while continuing to represent TECSYS as its primary product line in the region."
TECSYS is a leading supply chain management software provider that delivers powerful enterprise distribution, warehouse and transportation logistics software solutions. The company's customers include more than 500 mid-size and Fortune 1000 corporations in healthcare, heavy equipment, third-party logistics, and general wholesale high-volume distribution industries. TECSYS' shares are listed on the Toronto Stock Exchange under the ticker symbol TCS.
The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management's beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that TECSYS Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of TECSYS Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with TECSYS Inc.'s business can be found in the MD&A section of the Company's annual report and annual information form for the fiscal year ended April 30th, 2011. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR (www.sedar.com).
Copyright ?? TECSYS Inc. 2012. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.
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