MONTREAL, Feb. 11 /CNW Telbec/ - The independent committee of the board of directors of ISACSOFT Inc. (TSX-V: ISF) announces today that it is currently in discussions with Ronald Brisebois, Isacsoft's Founder, Chairman and CEO and shareholder of just over 14%, in respect of a potential privatization of Isacsoft by an entity controlled by Ronald Brisebois. The independent committee has been informed today that Desjardins Venture Capital, the second largest shareholder of Isacsoft with a participation of 13.78%, has entered into a lock-up agreement in support of such privatization at a price of $0.33 per share.
This announcement is in line with Isacsoft ongoing review of its strategic alternatives which started in February 2007.
Additional information relating to such proposal will be made public at such time as there is agreement on the final terms. There can be no assurance however that a transaction with Ronald Brisebois or any other party will be entered into and no timetable has been set for the completion of any such transaction.
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 revenues and strategic projects targeting key customers. ISACSOFT is headquartered in Montréal, Canada with