TORONTO, Dec. 10, 2021 (GLOBE NEWSWIRE) -- Global design and technology firm, IBI Group Inc. (TSX: IBG) (“IBI” or the “Company”), announced today that it has completed the purchase of the assets of Telenium Inc. (“Telenium”), (the “Acquisition”), including all intellectual property and technology assets. Specializing in telecommunications that integrate telephone, computer, and web technologies, Manitoba-based Telenium is most known in Canada for its integrated 511 advanced traveller information solution. The Acquisition bolsters IBI’s Travel-IQ™ product through access to new markets, and increases the firm’s SaaS portfolio and recurring revenue profile.
“With IBI now providing SaaS 511 service to nine Canadian provinces and territories, including the addition of Telenium’s client base, we are proud to provide advanced traveller information solutions from coast to coast across North America,” said IBI Group CEO, Scott Stewart. “Strengthening the market profile and competitive edge of our Travel-IQ solution, this acquisition also adds to our annual recurring revenue and contributes to our strategic growth goals.”
Established in 2001, Telenium’s software offering includes its 511 advanced traveller information solution and road condition reporting system. Its private- and public-sector client portfolio includes the Canadian provinces of Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland and PEI, as well as The Weather Network. As part of the Acquisition, IBI welcomes Telenium’s software development team to the firm.
IBI’s traveller information technology has been a significant contributor to the firm’s Intelligence-sector portfolio for more than 10 years. It is currently operational across North America in Alaska; Arizona; Kern County, California; Southern California; Connecticut; Florida; Georgia; Louisiana; Massachusetts; New York; Suffolk, Virginia; Wisconsin; Yukon; Alberta; and Ontario. IBI’s Travel-IQ technology is also being deployed in the UK and South Africa.
Caution Regarding Forward-Looking Information
Certain statements in this news release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and its subsidiary entities, including IBI Group Partnership or the industry in which they operate, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. When used in this news release, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties.
These risk factors are discussed in detail under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as at December 10, 2021. The Company updates these assumptions at each reporting period and adjusts its forward-looking information as necessary.
About IBI Group
IBI Group Inc. (TSX:IBG) is a technology-driven design firm with global architecture, engineering, planning, and technology expertise spanning over 60 offices and 3,000 professionals around the world. For nearly 50 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities thrive when designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. Follow IBI Group on LinkedIn and Twitter.
Media Contact:
Julia Harper
IBI Group Inc.
Julia.harper@ibigroup.com
1-647-330-4706
Investor Contact:
Stephen Taylor, CFO
IBI Group Inc.
55 St. Clair Avenue West
Toronto, ON M4V 2Y7
1-416-596-1930
