Geac's Interealty Signs Contracts Valued at Approximately US$4.5 Million

MLXchange MARKHAM, ON and VIENNA, VA, Oct. 27 /CNW/ - Interealty, a division of Geac(R) (TSX: GAC, NASDAQ: GEAC), has signed multi-year contracts with five organizations representing more than 12,000 Realtors(R) across three U.S. states and Ontario. All five customers have committed to using Interealty's MLXchange Web-based multiple listing service (MLS) automation technology. The total combined value of these contracts is at least US$4.5 million. The contract periods range from 36 to 60 months.

The five organizations are the Realtors Association of Hamilton-Burlington (Ontario); Greater Hudson Valley MLS (New York); Gulf South Real Estate Information Network, Inc. (Louisiana); Western New York Real Estate Information Services, Inc. (Buffalo, New York); and Darien Multiple Listing Service, Inc. (Connecticut). The Ontario association is a new customer to Interealty; the other four are existing Interealty customers that renewed their relationships.

"We are excited about the market traction MLXchange has gained, as evidenced by this series of important customer wins," said Jim McDevitt, Vice President in charge of Geac's Industry Specific Applications (ISA) business. "Interealty is now a profitable business that has made great strides over the past year; we are pleased with its progress."

"Taking care of our customers has always been my top priority," said Interealty President Bryan Foreman. "It is rewarding to see that focus bear fruit with both existing and new customers. Existing customers renewing their relationships with Interealty is strong testimony indeed. At the same time, new customers are being attracted to Interealty based in part on industry recognition of the high level of customer satisfaction that we have achieved."

About Interealty

Interealty, a division of Geac (TSX: GAC, NASDAQ: GEAC), provides a full line of technology tools, services and support to each segment of the real estate industry, including Multiple Listing Services (MLSs), national and regional broker franchises, independent broker owners, and agents. For more than three decades, Interealty has provided North America's largest real estate boards and associations with innovative products like its leading MLS system, MLXchange. Headquartered in Vienna, Virginia, Interealty has offices throughout North America. Further information is available at http://www.interealty.com or through e-mail at info(at)interealty.com.

About Geac

Geac (TSX: GAC, NASDAQ: GEAC) is a global enterprise software company that addresses the needs of the Chief Financial Officer. Geac's best-in-class technology products and services help organizations do more with less in an increasingly competitive environment, amidst growing regulatory pressure, and in response to other business issues confronting the CFO. Further information is available at http://www.geac.com or through e-mail at info(at)geac.com.

This press release may contain forward-looking statements of Geac's intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases. These forward-looking statements are neither promises nor guarantees. They are only predictions that are subject to risks and uncertainties, and they may differ materially from actual future events or results. Geac undertakes no obligation to update or revise the information contained herein. Important factors that could cause a material difference between these forward-looking statements and actual events include, among other things: our ability to increase revenues from new license sales, cross-sell into our existing customer base and reduce customer attrition; whether we can identify and acquire synergistic businesses and, if so, whether we can successfully integrate them into our existing operations; whether we are able to deliver products and services within required time frames and budgets to meet increasingly competitive customer demands and performance guaranties; risks inherent in fluctuating international currency exchange rates in light of our global operations and the unpredictable effect of geopolitical world and local events; whether we are successful in our continued efforts to manage expenses effectively and maintain profitability; our ability to achieve revenue from products and services that are under development; the uncertain effect of the competitive environment in which we operate and resulting pricing pressures; and whether the anticipated effects and results of our new product offerings and successful product implementation will be realized. These and other potential risks and uncertainties that relate to Geac's business and operations are summarized in more detail from time to time in our filings with the United States Securities and Exchange Commission and with the Canadian Securities Administrators. Please refer to Geac's most recent quarterly reports available through the website maintained by the SEC at www.sec.gov and through the website maintained by the Canadian Securities Administrators and the Canadian Depository for Securities Limited at www.sedar.com for more information on risk factors that could cause actual results to differ. Geac, Interealty and MLXchange are registered trademarks of Geac Computer Corporation Limited. All other marks are trademarks of their respective owners.

http://www.newswire.ca/en/releases/orgDisplay.cgi?okey=41200

For further information

Media Contacts: Bryan Foreman, Interealty, (202) 281-4646, bryan.foreman@interealty.com
Investor & Media Contact: David Domeshek, Geac, (508) 871-5064, david.domeshek@geac.com

--------------------------------------------------------------------------------
Source: Geac Computer Corporation Limited

Printer Friendly

Email Page

Sponsor Message