June 10, 1999
Vol. 5, No. 24
This is a special edition of COLE'S NEWSWIRE, which is a weekly distribution of information about the sales and installations of publishing technology and the latest news on new products developed by suppliers to the industry.
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The Markham, Ontario, Canada company has announced it has agreed to acquire Melbourne, Australia-based Cybergraphic Systems Ltd. http://www.cybergraphic.com/ for about C$16 million (US$10.86 million).
With offices in England, Asia/Pacific and the United States, Cybergraphic is an international provider of editorial, advertising, pagination and Internet systems for newspapers. Cybergraphic's revenues have grown at more than 20 percent per year for the most recent three fiscal years, Geac said, to a current cash flow of C$22 million (US$14.9 million).
Geac Publishing Systems is a Tampa, Fla.-based division that provides newspapers with business software, including the VisionShift lines of marketing, circulation, advertising management and billing software. Geac formerly was known as Collier-Jackson.
In a press release, Douglas Bergeron, president and chief executive of Geac, said, "This transaction represents a very good example of our acquisition strategy. It adds significant market share to an existing vertical market, while providing us with synergies in the distribution channel and the leverage to greatly enhance divisional sales."
The release also quoted Bernard Grinberg, managing director of Cybergraphic Systems. "Geac and Cybergraphic have complementary technologies and areas of expertise," Grinberg said. "Cybergraphic's strength is in editorial and classified advertising systems, while Geac's strength lies in display advertising and the business aspects of advertising billing for classified, retail and national accounts. Combining the offerings provides newspapers with a complete advertising system, thereby eliminating duplicate production interfaces, rating and account management functions."
This special edition of COLE'S NEWSWIRE was compiled by David M. Cole and distributed by The Cole Group, publishers of THE COLE PAPERS and NEWSINC., and consultants to newspapers and magazines worldwide. To receive more information about The Cole Group, send e-mail to: firstname.lastname@example.org.
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Modified date: 06/10/1999, 12:27:58 AM.