Calian Completes Acquisition of Decisive Group and Confirms Filing of Audited Financial Statements

OTTAWA, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Calian® Group Ltd. (TSX:CGY), a diverse products and services company providing innovative healthcare, communications, learning and cybersecurity solutions, has completed the acquisition of Decisive Group for up to CAD$74.7 million.

A leader in the IT infrastructure and cyber security services business, the acquisition of Decisive rounds out Calian's North American offerings. It also positions the Calian IT and Cyber Solutions (ITCS) portfolio to expand further into global markets?serving a broader set of customers. 

"We're pleased to be acquiring a company that not only has so much to offer, but also has similar values," says Kevin Ford, Calian CEO.?"This acquisition is also an important step in our growth strategy allowing us to continue to scale our IT and cyber business. Ultimately, we will be able to offer stronger managed services capability in both the short and long term to customers across industry and government." 

Calian first announced the Definitive Purchase Agreement on November 9. 

Filing of Audited Financial Statements

Calian confirms that it will be filing its FY23 audited financial statements today with no changes to its previously published financial results released earlier this week. The Company will also be posting its annual report on its website.

About Calian

We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation and teamwork to engineer reliable solutions that solve complex problems. That's Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets.

Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

Product or service names mentioned herein may be the trademarks of their respective owners.

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DISCLAIMER

Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: [email protected]