Geac Computer (NASDAQ:GEAC)
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Geac Wins US$350,000 Contract with Major U.S. Home Mortgage
Lending Institution
Organization invests in Geac MPC performance management software
MARKHAM, ON and SOUTHBOROUGH, MA, July 22 /PRNewswire-FirstCall/ -- Geac(R)
(TSX:GAC, NASDAQ:GEAC) today announced it has won a contract for software and
services valued at approximately US$350,000 from a major U.S. financial
services institution involved in home mortgage lending. The organization
purchased Geac MPC performance management software, which it plans to deploy by
the end of the year.
The sale marks Geac's latest success extending its position in the financial
services industry, one of two vertical sectors that the company is targeting
with industry-specific campaigns to capitalize on its collective expertise and
established customer base and partnerships. Geac's other significant initiative
is aimed at the Government sector.
"This win demonstrates that Geac's financial services industry campaign
continues to gain traction," Charles S. Jones, Geac's president and CEO, said.
"We believe that Geac has a significant opportunity to build business with
financial services and government institutions, given our robust product
offerings and long history serving the information technology needs of such
enterprises. Even with this notable recent success, we have found it
challenging in closing the new business pipeline, as the market is intensely
competitive; the first quarter continues to be our most challenging, even with
our increased spending on selling and marketing."
About Geac
Geac (TSX: GAC, NASDAQ:GEAC) is a global enterprise software company that
addresses the needs of the Chief Financial Officer. Geac's best-in-class
technology products and services help organizations do more with less in an
increasingly competitive environment, amidst growing regulatory pressure, and
in response to other business issues confronting the CFO. Further information
is available at http://www.geac.com/ or through e-mail at .
This press release may contain forward-looking statements of Geac's intentions,
beliefs, expectations and predictions for the future. These forward-looking
statements often include use of the future tense with words such as "will,"
"may," "intends," "anticipates," "expects" and similar conditional or
forward-looking words and phrases. These forward-looking statements are neither
promises nor guarantees. They are only predictions that are subject to risks and
uncertainties, and they may differ materially from actual future events or
results. Geac undertakes no obligation to update or revise the information
contained herein. Important factors that could cause a material difference
between these forward-looking statements and actual events include, among other
things: our ability to increase revenues from new license sales, cross-sell into
our existing customer base and reduce customer attrition; whether we can
identify and acquire synergistic businesses and, if so, whether we can
successfully integrate them into our existing operations; whether we are able
to deliver products and services within required time frames and budgets to
meet increasingly competitive customer demands and performance guaranties;
risks inherent in fluctuating international currency exchange rates in light of
our global operations and the unpredictable effect of geopolitical world and
local events; whether we are successful in our continued efforts to manage
expenses effectively and maintain profitability; our ability to achieve revenue
from products and services that are under development; the uncertain effect of
the competitive environment in which we operate and resulting pricing
pressures; and whether the anticipated effects and results of our new product
offerings and successful product implementation will be realized. These and
other potential risks and uncertainties that relate to Geac's business and
operations are summarized in more detail from time to time in our filings with
the United States Securities and Exchange Commission and with the Canadian
Securities Administrators. Please refer to Geac's most recent quarterly reports
available through the website maintained by the SEC at http://www.sec.gov/ and
through the website maintained by the Canadian Securities Administrators and
the Canadian Depository for Securities Limited at http://www.sedar.com/ for
more information on risk factors that could cause actual results to differ.
Geac is a registered trademark of Geac Computer Corporation Limited. All other
marks are trademarks of their respective owners.
DATASOURCE: Geac Computer Corporation Limited
CONTACT: Media Contact: David Domeshek, Geac, (508) 871-5064,
; Investor Contact: Laura Hindermann, Geac,
(508) 871-5045,