Calian Technology Ltd. Sells E-Learning And Business Transformation Practice To Acerra - A Division Of Algonquin College
Kanata, Ontario July 17, 2001 - Calian (TSE.CTY) announced today that its principal subsidiary, Calian Ltd. has sold its e-Learning and business transformation practice to ACERRA - a division of Algonquin College, for an undisclosed amount.
In May, Calian announced its intention to exit these businesses, to focus on its core staffing, outsourcing and systems engineering businesses that have been the backbone of Calian's success. Calian stated that it would do its best to maximize the opportunities for its affected employees during this transition stage.
Larry O'Brien, Calian's President & CEO stated, "I am extremely pleased that we were able to conclude this transaction with Algonquin College. Algonquin is a first-class organization, and now that it has assimilated Calian's eLearning and Business Transformation groups, it will be able to offer courses and consulting services far more extensive than any other educational organization in the National Capital Region."
"We have also entered into two smaller transactions that effectively wind down this part of our business as of June 30," stated Mr. O'Brien.
Algonquin College has been in the corporate training business for more than 25 years and has established a priority to increase its market share in the National Capital area. This acquisition from Calian is an excellent fit with the existing corporate training initiatives of the College.
John Hamilton, Vice President, Finance, Administration and Corporate Training, states "The College is very pleased with this acquisition from Calian, and looks forward to a long term business relationship with the company."
Calian Technology Ltd. (TSE:CTY) sells technical and professional services to industry and government. In the 2000 fiscal year Calian had sales in excess of $125 million.
For further information, please contact:
President & CEO
Telephone: (613) 599-8600
Telephone: (613) 727-4723 ext. 5193
Public Relations, Communications, Alumni and Development
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