GFI Solutions Strengthens Its Presence in Quebec Cities and Municipalities

MONTREAL, QUEBEC--(Marketwire - Feb. 29, 2012) - GFI Solutions Group Inc. ("GFI Solutions"), a Canadian leader in IT, is proud to announce that its subsidiary GFI Business Solutions Inc. has acquired both the LUDIK recreation management technology solution and a licence for the TFP taxation software suite from the Société de gestion du réseau informatique des commissions scolaires ("Société GRICS").

GFI Solutions is significantly strengthening its position in the municipal sector with an expanded range of unique and high-end solutions designed to support and assist with several aspects of city and municipality business management. The company is very proud to welcome its new customers (which include the City of Montreal) as they join the ranks of its reputable clientele, comprising most of Quebec's large cities, which are users of its UniCité software suite.

"We are very excited about this transaction, which consolidates our presence in over 80 Quebec cities," declares Gilles Létourneau, President and CEO of GFI Solutions. He adds, "Our municipal clients will have the benefit of all our technological expertise, enabling us to improve our products so that we can fully meet our clients' ever-changing needs. Our know-how in the areas of cloud computing and transactional and payment solutions is sure to be a major advantage for them."

Daniel Besner, President and CEO of GRICS, says that this approach is in keeping with GRICS' strategic plan. "GRICS is especially pleased to know that its municipal clientele will be in the capable hands of a company which has such an excellent reputation in the field and which will ensure the development and evolution of the applications."

Doryne Bourque, Vice-President of Municipal Solutions at GFI Solutions says, "Throughout the acquisition process, we took the time to meet with many of the city and municipal representatives who are current LUDIK and TFP clients in order to make sure we properly understood their present and future needs. This is part of our management philosophy: we consider clients our business partners, and as such, we consult them in order to establish our key directions. We will be working closely with the Société GRICS so that knowledge is transferred efficiently and to ensure a transparent transition and seamless continuity for our clients."

This transaction will also serve to reinforce GFI Solutions' municipal teams in Sherbrooke and Montreal, as is illustrated by a recently-launched recruitment campaign.

About GFI Solutions

A leader in the Canadian IT industry, GFI Solutions Group Inc. ("GFI Solutions") specializes in the design, implementation, integration, and support of business software solutions, in the development of e-business solutions, and in electronic payment, professional, and technical IT services. In business since 1988, GFI Solutions is currently experiencing an active growth phase. Its most recent acquisitions include Tender Retail, activeMedia Développement, Fortsum Business Solutions (now GFI SMB Solutions), and Bell Business Solutions (now GFI Business Solutions). These acquisitions have enabled the company to conquer promising vertical markets and extend its product and service offering to businesses of all sizes, as well as to municipalities and other public service organizations.

About Société GRICS

Société GRICS is a non-profit company which has been catering to the IT management needs of the Quebec school sector for several decades. Involved in the municipal sector since 2002, thanks to its subsidiary M²E Solutions Inc., Société GRICS intends to concentrate on its educational product and service portfolio from now on. For more information, go to www.grics.qc.ca.