Divestco Inc.

Divestco Inc.

October 05, 2005 17:58 ET

Divestco Inc. Announces Acquisition of Focus Integrated Solutions

CALGARY, ALBERTA--(CCNMatthews - Oct. 5, 2005) - Divestco Inc. (TSX VENTURE:DVT) ("Divestco" or the "Company") is pleased to announce it has completed the acquisition of Focus Holdings and Investments Ltd., operating as Focus Integrated Solutions ("Focus").

Focus began operations in 1995 as a small consulting practice with a small employee base. Since then, Focus has grown to an organization that employs over 35 people located in Calgary, Edmonton and Vancouver. Focus provides management and technical consulting services related to business accounting systems and professional services automation, Customer Relationship Management ("CRM") operation solutions, and CRM web-based solutions. Focus also assists clients with determining and supporting networking infrastructure requirements, including all hardware and software. For more information, please visit the Focus website at: www.focusintegrated.com.

Mr. Stephen Popadynetz, Chief Executive Officer of Divestco commented: "This acquisition adds a new, but complementary service to the Divestco fold. We are fortunate that all of the former principals of Focus have agreed to come on board with Divestco and bring with them several years of experience in providing CRM solutions to clients in a variety of industries. We look forward to applying these CRM solutions to our existing services. In addition, we expect Focus will be accretive to Divestco's bottom line and funds from operations."

Divestco was formed on September 23, 2003 as a result of the amalgamation of International Datashare Corporation and Divestco.com Inc. Divestco is actively involved in the North American oil and gas software and services industry, and markets over 20 separate software applications that are widely used in both North America and International marketplaces. Divestco also operates a significant database containing information relevant to oil and gas exploration. Additionally, Divestco has an expanding seismic data library and is the largest broker of seismic data in Canada.

This press release contains forward-looking statements based upon current expectations that involve a number of business risks and uncertainties. The use of forward-looking words such as, "may," "will," "expect" or similar variations generally identify such statements. Although management believes that expectations reflected in forward-looking statements are reasonable, such statements involve risks and uncertainties. Such factors include fluctuations in the market for oil and gas and related products and services, competition and the demand for services provided by the Company.

The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Divestco Inc.
    Mr. Stephen Popadynetz
    Chief Executive Officer
    (403) 218-6463
    Divestco Inc.
    Mr. Roderick Chisholm
    Chief Financial Officer
    (403) 218-6450
    Website: www.divestco.com