July 10, 2008
Isacsoft announced the completion of its amalgamation with BriseboisCo, a company controlled by Ronald Brisebois, the President, Chief Executive Officer and Chairman of the Board of Directors of Isacsoft which was approved by Isacsoft Shareholders on June 27, 2008. As a result of the closing, the Shareholders will receive $0.33 for each common share of Isacsoft they hold. Prior to the closing, Isacsoft has delivered to the depositary sufficient funds to enable the depositary to pay the Offer Price, with payment to be made as soon as practicable after closing. Shareholders who hold Shares through an intermediary should contact the latter for details on the receipt of payment for their Shares. As a result of the completion of the Amalgamation, the Shares will no longer be traded on the TSX Exchange Venture nor be held by members of thepublic and will be delisted shortly hereafter.
July 2, 2008
Isacsoft announced that the closing of the amalgamation of Isacsoft with BriseboisCo, a company controlled by Ronald Brisebois, the President, Chief Executive Officer and Chairman of the Board of Directors of Isacsoft has been postponed to on or aboutJuly 9th, 2008 pending finalization of financing details. Under the Amalgamation, the shareholders of Isacsoft will receive for each common share of Isacsoft they hold, an amount of $0.33 per Share (the "Offer Price").
June 27, 2008
Isacsoft announced that its shareholders have approved the amalgamation announced on May 27, 2008 BriseboisCo, a company controlled by Ronald Brisebois, the President, Chief Executive Officer and Chairman of the Board of Directors of Isacsoft. Under the Amalgamation, the shareholders of Isacsoft will receive for each common share of Isacsoft they hold, an amount of $0.33 per Share. The Amalgamation values Isacsoft’s equity at approximately $4.2 million on a fully diluted basis.
May 27, 2008
Isacsoft and BriseboisCo, a company controlled by Ronald Brisebois, thePresident, Chief Executive Officer and Chairman of the Board of Directors ofIsacsoft announced that they have entered into a pre-amalgamation agreement pursuant to which BriseboisCo has agreed to enter into an amalgamation with Isacsoft. Under the Amalgamation, the shareholders of Isacsoft will receive for each common share of Isacsoft, an amount of $0.33 per Share. The Offer Pricerepresents a premium of approximately 23.4% to Isacsoft's average closingprice on the TSX Venture Exchange over the past 20 days, 37.5% over February11, 2008's close, the day Isacsoft announced having discussions with RonaldBrisebois. The Amalgamation values Isacsoft's equity at approximately $4.2 million on a fully diluted basis.
May 15, 2008
ISACSOFT announced its un-audited interim consolidated financial results for the quarter ended March 31, 2008. First quarter 2008 financial results: EBITDA of $115,260, compared to $113,326 for first quarter 2007; Net income of $156,364 compared to $202,599 for first quarter 2007; Revenues at $2.068,745 compared to $2,455,017 for first quarter 2007.
March 4, 2008
Isacsoft announced its audited consolidated financial results for the year ended December 31, 2007. The Company also announced that it has filed its audited financial statements and notes for the year ended December 31, 2007 and its related management's discussion and analysis with Canadian securities regulators. The information is available electronically to interested parties at www.sedar.com and on the Company's web site at www.ISACSOFT.com. ISACSOFT's 2007 annual report will be mailed to shareholders during the third week of March 2008.
February 11, 2008
The independent committee of the board of directors of ISACSOFT announced that it is currently in discussions with Ronald Brisebois, Isacsoft's Founder, Chairman and CEO and shareholder of just over 14%, in respect of a potential privatization of Isacsoft by an entity controlled by Ronald Brisebois.
November 9, 2007
ISACSOFT announced its un-audited interim consolidated financial results for the quarter ended September 30, 2007. Third quarter net income closed at $325,010 compared to a loss of $384,965 for the third quarter of 2006. Lower sales volumes in professional services were offset by cost compressions to generate better results. Working capital was $2,509,229 as at September 30, 2007, ahead by $865,235 of the position of $1,643,994 reported as at December 31, 2006 and is mainly due to the year-to-date profitability, the decrease in the value of accounts payables and accrued liabilities and deferred revenues.
October 30, 2007
ISACSOFT announced the sale of its training division Versalys to Synesis Inc. In line with the review of strategic alternatives that started in February of this year, the board of directors approved the sale of the division, for a total consideration of close to $800,000. Synesis Inc. will pay $400,000 in cash and will take responsibility for prepaid courses at the time of the closing while ISACSOFT will keep accounts receivable and payable that remain at the signing of the contract.
August 14, 2007
ISACSOFT (TSX: ISF) announced its un-audited interim consolidated financial results for the quarter ended June 30, 2007: EBITDA income of $357,354 compared to $148,713 for the same quarter in 2006, Net income of $323,811 compared to $127,347 for second quarter 2006; revenues at $3,581,462 compared to $4,283,904 for second quarter 2006. Second quarter net income closed at $328,811 compared to $127,347 for the second quarter of 2006. Cost compression offset lower demand in all revenue categories.
June 22, 2007
Shareholders elected a new Board of Directors, today, at it's Annual General Meeting.
June 15, 2007
ISACSOFT announced that as part of its objective to become more cost efficient, it will be moving its head office and software development facilities into less costly spaces as of June 22nd 2007.
March 27, 2007
ISACSOFT announced the signing of contracts worth a total of more than $400,000 by its Library Solutions, Learning Solutions, and Consulting Services divisions. One of these contracts involves the City of Drummondville for the Portfolio 6.2.2 integrated system in the Côme Saint-Germain municipal library. ISACSOFT also signed a contract with the Société de Formation à Distance des Commissions Scolaires du Québec, which is an organization that collaborates with Québec school boards to offer distance learning; and another with the Association des courtiers et agents immobiliers du Québec (ACAIQ), which is the association of Québec real estate brokerage professionals. These two contracts are worth more than $200,000 for the Learning Solutions and Consulting Services divisions respectively.
March 14, 2007
Isacsoft reported a $10.1-million loss for 2006 as the company, which includes the former BiblioMondo library automation division. Revenue for 2006 dropped to $15.5 million from $17.2 million in 2005. Isacsoft recently announced that it is conducting a review of strategic alternatives including a possible sale of the company.
February 09, 2007
ISACSOFT announced that it is evaluating various strategic alternatives, including, but not limited to, a sale of the Company, a business combination or a capital reorganization, and has engaged Canaccord Capital Corporation as financial advisor to assist the Company in evaluating and considering such alternatives and their potential for enhancing shareholder value
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