MONTREAL, June 15 /CNW Telbec/ - ISACSOFT (TSX: ISF) announced today that as part of its objective to become more cost efficient, it will be moving its head office and software development facilities into less costly spaces as of June 22nd 2007.
ISACSOFT has come to an agreement with current landlord to relocate its software development facilities into smaller spaces within the multimedia sector of Montreal while relocating the head office personnel in the same building as its Versalys training division.
Estimated savings, net of leasehold improvements, over the life of the term should reach $1,032,000. Average yearly estimated savings for years 2008 to 2010 should reach $269,000.
"This new initiative will provide ISACSOFT with major costs reductions in the next following years and shows our commitment to the creation of value for our shareholders" said Ronald Brisebois, Chairman, President and CEO ISACSOFT INC.
ISACSOFT is a provider of software business solutions, information technology-training and systems integration consulting to its national and international customers. The revenue model is based on software licences, recurring maintenance revenues and strategic IT projects targeting key customers and training. ISACSOFT is headquartered in Montréal, Canada with offices in Québec City, Paris, London, Cologne and The Hague.