Quorum Information Technologies Inc.

Quorum Information Technologies Inc.

January 08, 2007 08:00 ET

Quorum Reaches 205 Dealership Customers by Signing Five More Dealerships to Its GM IDMS Offering

50 New Customers Signed in 2006

CALGARY, ALBERTA--(CCNMatthews - Jan. 8, 2007) - Quorum Information Technologies Inc. (TSX VENTURE:QIS) (Quorum) announced today that it has signed five more new dealerships to General Motors' Integrated Dealer Management System (GM IDMS) program. Quorum added a total of 50 new dealerships to its client base in 2006, including 45 under the GM IDMS program, three Chrysler dealers and two others. In addition, 18 of Quorum's existing GM dealers have signed GM IDMS contracts. Quorum is one of only two approved GM IDMS suppliers in North America. Its IDMS solution, the flagship XSELLERATOR™ software, is a completely integrated, Windows-based DMS that automates and streamlines automobile dealerships' sales, service, parts, accounting and CRM processes.

"In 2006, Quorum successfully implemented all of the necessary processes to deliver under the IDMS contract. It was a banner year as we hit two key milestones - 50 new dealership signings and surpassing 200 dealership customers," said Maury Marks, CEO and President of Quorum.

"Our sales really gained momentum in August. We sold 35 of the 50 new dealerships in the last five months of the year. We are now scheduling implementations into May 2007. For the coming year, we have a business plan that is focused on continued sales momentum and reaching a positive cash flow position," said Marks.

In addition to sales achievements, Quorum is also pleased to announce the final closing of their private placement which raised gross proceeds of $1.73 million.

About Quorum:

Quorum's focus is on developing, marketing, implementing and supporting its XSELLERATOR™ product for the automotive vertical. XSELLERATOR is a dealership and customer management software product which automates, integrates and streamlines every process across departments in a dealership. Quorum currently holds more than 20 percent of GM dealership market share in Canada, making it the third largest supplier of Dealership Management Systems for GM in Canada. Quorum is one of only two General Motors IDMS Suppliers for North America. Quorum is a Microsoft Gold Certified Partner and Field-Level Managed ISV in both Canada and the United States.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Quorum Information Technologies Inc.
    Mark H. Allen
    VP - Planning and Marketing
    (403) 777-0035 Ext. 141
    (403) 777-0039 (FAX)
    Email: AllenM@QuorumIS.com
    Quorum Information Technologies Inc.
    #200, 6715 8 Street N.E.
    Calgary, AB T2E 7H7
    Website: www.QuorumIS.com