Geac's Interealty Signs Contracts Valued at US$2 Million
14 April 2005 - 3:00AM
PR Newswire (US)
Geac's Interealty Signs Contracts Valued at US$2 Million New wins
make MLXchange available to an additional 32,000 Realtors(R)
MARKHAM, ON and VIENNA, VA, April 13 /PRNewswire-FirstCall/ --
Interealty, a division of Geac(R) (TSX: GAC, NASDAQ: GEAC), today
announced it has signed multi-year contracts with four U.S. real
estate organizations. The contracts have a combined estimated value
of at least US$2 million, and range in duration from 36 to 48
months. All four customers have committed to using MLXchange,
Interealty's Web-based multiple listing service (MLS) automation
technology. The four organizations are the Regional Multiple
Listing Service of Minnesota, Inc., the Regional Multiple Listing
Service, Inc. (Florida), the Big Bear Association of Realtors, Inc.
(California), and the Rim O' The World Association of Realtors
(California). The Minnesota and Florida MLSs are new Interealty
accounts, making MLXchange available to more than 32,000 additional
real estate professionals. The two California Associations are
current customers that have chosen to renew their relationships
with Interealty. "We're constantly striving to provide our members
with the best technology tools available," said Bob Lowe, 2005
President of the Regional Multiple Listing Service headquartered in
Palm Beach Gardens, Florida. "MLXchange offers a number of features
not found in any other MLS, so it's an excellent complement to our
existing systems. We were especially impressed by how hard the
staff at Interealty worked to accommodate our aggressive timeline."
"Even more valuable to us than the quality and breadth of
functionality in MLXchange is Interealty's commitment to a
long-term partnership and sustainable product strategy," said John
Mosey, President of the Regional Multiple Listing Service of
Minnesota. "With Interealty as our business partner, we will be
able to provide superior tools to Minnesota and Western Wisconsin
real estate professionals for many years to come." "We're winning a
significant amount of new business and, at the same time, renewing
our current accounts," said Interealty President Bryan Foreman.
"We've been able to achieve success on both these fronts through
equal and intense commitments to customer service and product
innovation. Our focus on these two principles has translated into
the kind of customer loyalty you don't normally see in this
business." About Interealty Interealty, a division of Geac,, is a
premier provider of Multiple Listing Service (MLS) systems and real
estate software in North America. Interealty offers a full line of
technology products and support services to the real estate
industry, including MLS organizations, franchisors, and agents. For
more than three decades, Interealty has provided North America's
leading real estate boards and associations with innovative
products like its leading MLS system, MLXchange. Headquartered in
Vienna, Virginia, Interealty has offices throughout North America.
Further information is available at http://www.interealty.com/ or
through e-mail at . 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 Contacts: Bryan Foreman,
Interealty, (202) 281-4646, ; David Domeshek, Geac, (508) 871-5064,
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