Geac Wins US$350,000 Contract with Major U.S. Home Mortgage Lending Institution
23 July 2005 - 12:32AM
PR Newswire (US)
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,
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