Alithya to begin trading on November 2, 2018 under symbol "ALYA" on NASDAQ
and the TSX
- Alithya establishes its footprint in the US market and becomes
a leading North American digital technology firm
- Alithya substantially bolsters its Microsoft and Oracle
enterprise and cloud solutions offerings
- The company completes a C$52.8
million private placement
MONTREAL, Nov. 1, 2018 /CNW Telbec/ - Alithya Group
inc. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya"), a leader in strategy
and digital technologies, today announced the successful completion
of the previously announced business combination between Alithya
Group Inc. ("Alithya Canada"), a Québec private corporation, and
Edgewater Technology, Inc. ("Edgewater"), a Delaware corporation listed on the NASDAQ
Global Market (NASDAQ: EDGW). Pursuant to the business combination,
each of Alithya Canada and Edgewater became a wholly owned subsidiary of
Alithya.
As a result, Class A subordinate voting shares of Alithya
("Subordinate Voting Shares") will commence trading on the Nasdaq
Capital Market (NASDAQ) and the Toronto Stock Exchange (TSX) under
the ticker symbol "ALYA" on November 2,
2018.
‟I am very pleased that we have completed this transaction. This
is a significant piece of our growth strategy, which is based on
both organic and acquisitions, which will constitute a pillar in
our ambition to become a leading North American firm in the
consulting, transformation and digital technology solutions
market," said Paul Raymond,
President and CEO of Alithya. ‟Our Board of Directors and our
management team strongly believe that the diversified expertise and
skills of our 2,000 professionals will meet the strong market
demand for innovative and agile technology partners with the scale
to accompany them in their transformation challenges."
Closing of Private Placement
On October 30, 2018, Alithya
Canada closed its previously announced bought deal private
placement where an aggregate of 11,736,055 subscription receipts
were issued at a price of C$4.50 per
subscription receipt (the "Offering") for estimated gross proceeds
of approximately C$52.8 million. Each
subscription receipt automatically converted into an Alithya Canada
common share prior to the closing of the business combination, and
then exchanged for one Subordinate Voting Share upon closing
of the business combination.
The Offering was completed through a syndicate of underwriters
led by Desjardins Capital Markets, and including GMP Securities
L.P., National Bank Financial Inc. and Echelon Wealth Partners
Inc.
Desjardins Capital Markets also acted as the exclusive financial
advisor to Alithya Canada in the context of the business
combination.
A Strong Integrated Offering
Edgewater has nearly 400
experts across the United States
specializing in the implementation of Microsoft and Oracle
enterprise and cloud solutions. These services are currently
commercialized under the Fullscope and Ranzal banners. The
reputation of these two organizations is well established thanks to
the many awards they earned from the industry.
Thanks to the combined talents of its 2,000 professionals,
Alithya now possesses a diversified offering, which includes
strategy services, Microsoft (ERP, CRM, Azure and analytics) and
Oracle (ERP Cloud, EPM, EBS and analytics) technologies as well as
custom solutions. The company has deployed projects to more than
2,000 mid-sized and large business customers in Canada, the United
States and Europe.
- Alithya now provides leading-edge expertise in implementing
Microsoft solutions, including Enterprise Resource Planning (ERP
Cloud), Customer Relationship Management (CRM), Azure, and Business
Analytics. Fullscope's achievements have earned it numerous
industry awards, including being named to Microsoft's prestigious
and highly-regarded Inner Circle in 2018, for a 13th year in a
row.
- Now together, the Alithya and Ranzal teams offer businesses in
Canada and the United States unparalleled expertise with
the Oracle technology in a variety of industries. The teams have
deployed more than 1,000 Enterprise Resource Planning (ERP Cloud),
Enterprise Performance Management (EPM), previously known as
Hyperion and Enterprise Business Solutions (EBS) as well as
business analytics.
- Alithya is recognized for its digital strategy services, with
several notable accomplishments in helping organizations to make
strategic decisions related to technology orientations,
organizational performance, architecture and transformation.
- Finally, the Alithya Digital Solutions Center offers clients to
undertake their projects, of any size, with the assurance of high
product quality through the best practices deployed in the center.
This adds to the thousands of achievements Alithya has successfully
delivered over its 25 years of experience in system integration and
development.
Alithya's agile operating mindset is particularly appreciated by
companies, including its co-sourcing approach. This allows for risk
sharing between the client and Alithya, and provides the customer
with continuous visibility into the fulfillment of projects.
About Alithya Group
Alithya Group inc. is a leader in digital strategies and
technologies in North America.
Founded in 1992, the Company employs approximately 2,000
professionals in Canada,
the United States and Europe. Alithya's integrated offering is based
on the pillars of expertise: strategy services, Microsoft and
Oracle technologies and custom solutions. Its clients are active
primarily in the financial, manufacturing, retail and distribution,
telecommunications, transportation, professional services, health
and government sectors. Alithya is an advocate for workforce
diversity. As such, the firm is a member of the 30% Club, which
encourages the participation of women in management roles, and is
implementing immigrant-friendly recruiting initiatives.
Forward looking statement
Certain statements herein may be "forward looking" statements
that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of Alithya Group inc. or the industry to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward
looking statements involve significant risks and uncertainties,
should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause
actual results to vary significantly from the results discussed in
the forward looking statements. These forward-looking statements
reflect current assumptions and expectations regarding future
events and operating performance and are made as of the date hereof
and Alithya Group inc. assumes no obligation, except as required by
law, to update any forward-looking statements to reflect new events
or circumstances.
SOURCE Alithya