GFI Solutions Group Inc.

GFI Solutions Group Inc.

January 19, 2010 07:00 ET

GFI Business Solutions Finalizes Strategic Partnership With Altus Group

MONTREAL, QUEBEC--(Marketwire - Jan. 19, 2010) - GFI Business Solutions Inc. ("GFI"), a wholly owned subsidiary of GFI Solutions Group Inc. ("GFI Group"), finalized a strategic business partnership with Altus Group's Capital Planning team. GFI Group is a Quebec-based leader in the field of IT products and services. This business arrangement gives GFI exclusive rights to sell the Altus Capital Planning ("ACP") Total Capital Planning Solution ("TCPS") suite of technologies in the Province of Quebec. As part of this business transaction, GFI will acquire from Altus, the Harfan CMMS (Computerized Maintenance Management) work order management suite of technologies. This suite will be incorporated into GFI's ERP business solutions that are used by clients across Canada.

Altus' TCPS solution will complement GFI's UniCite and Magistra product suites, offering municipalities and health care sector the opportunity to integrate additional planning tools, essential to maintaining and sustaining infrastructures over a long period of time. Furthermore, Altus' Harfan CMMS will complement GFI's UniCite product suite for municipalities.

As leaders in the development of capital asset planning technology solutions since 1991, ACP has implemented technology-driven capital planning processes that integrate strategic asset planning with the technical management and financial reporting obligations of multiple industry sectors across North America.

"We are thrilled to be partnering with Altus to pursue our growth in the Quebec market", commented Gilles Letourneau, President and CEO of GFI Solutions Group Inc. "Through the acquisition from Altus of the Harfan CMMS and its integration with the UniCite suite, GFI demonstrates its leadership and commitment to the municipal market across Quebec, continued Mr. Letourneau.

Mr. Letourneau added, "Further, by partnering with Altus for the TCPS solution, GFI has enhanced its comprehensive solutions to include the public and private sectors along with large enterprises".

GFI is the pre-eminent supplier of Enterprise Resource Planning (ERP) solutions in various Quebec-based vertical markets and prides itself in being a leader in integrating and developing business solutions to 52,000 small and medium sized businesses (SMB) and large enterprises across Quebec.

This is a very exciting time for both firms as they unite the strength of their business practices and solution technologies in a very diversified and sophisticated Quebec market. By combining the strengths of both firms and focusing on the Quebec market, this business partnership will assist both private and public sector organizations to proactively address the infrastructure challenges facing managers throughout the Province.

About Altus Group

Altus Group is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,500, Altus Group has a network of over 50 offices in 11 countries worldwide, including Canada, UK, Australia, Asia, USA and the Middle East. We operate four interrelated Business Units, bringing years of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting and Geomatics services. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry. For more information, please visit altusgroup.com.

About GFI Solutions Group Inc.

Established in 1988 and counting close to 1,000 employees, GFI Solutions Group Inc. ("GFI") is among the leaders in the field of IT solutions in Quebec, specializing in the production and integration of management applications, including professional and technical IT services. Responding to the needs of small and medium-sized businesses (SMBs), municipalities, major corporations and government agencies, GFI provides a fully integrated line of IT products and services designed to optimize an organization's business processes.

GFI has pursued a growth strategy of targeted acquisitions in vertical markets. Over a five-year period, these acquisitions have enabled the firm to increase its annualized revenues and employee base five-fold. Its most recent acquisitions include Fortsum Business Solutions, Bell Business Solutions, and Accovia Inc. Today, GFI's customers include over 55,000 SMBs and large organizations across Canada and Europe, of which 52,000 are located in the province of Quebec. For more information, please visit GFI's website at: www.gfisolutions.com

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