Odesia Group Inc.

Odesia Group Inc.

December 21, 2011 08:00 ET

ODESIA 2011 Corporate Update: Repositioning ODESIA to Accelerate Growth and Improve Profitability in 2012

MONTREAL, QUEBEC--(Marketwire - Dec. 21, 2011) - ODESIA Group Inc. ("ODESIA" or "the Company") (TSX VENTURE:ODS), an international corporation specialized in delivering business-intelligence solutions ("BI"), decision-process management and business analytics, announces its 2011 Corporate Update.

The year 2011 has been one of repositioning and putting in place the elements required to accelerate growth and improve profitability in 2012.

2011 Highlights:

  • During the year, the Company assembled an experienced-team oriented toward Business Development and Strategic Partnerships:

    • Mr. Claude Poitras as Director of the Business Intelligence practice;

    • Mr. Eduard Modol as Director of Professional Services;

    • Mr. Richard Brossoit as Vice-President growth strategy.

  • At mid-year, the Company ended its unprofitable operations in Mexico. This decision allowed ODESIA to focus on its key markets and improve its margins despite a 20% decrease in sales for the first three quarters of 2011 compared to 2010.

  • During the year, in addition to relying on more than 70% of recurring revenue, the Company won new clients including VAT, AVEOS, SNCF, Lafarge, Bouygues Telecom, Osisko and Neocles.

  • In December, the Company welcomed Mr. André P. Brosseau as board member. Mr. Brosseau will bring his expertise in finance and mergers & acquisitions. The goal was to further expand the experience of the board for the upcoming growth phase.

  • The Paris office has continued to improve its gross profit and acquired ASA technology's mandates, which will lead to increased revenues.

The strategy for 2012 is centered on accelerated growth and improved profitability.

  • The BI market is fragmented and many consolidation opportunities are possible. The Company now has an experienced and dynamic team to address consolidation of the market by making strategic, profitable acquisitions.
  • Odesia will continue to act as an innovator and a visionary in the market by introducing new solutions.
  • Odesia will focus on attaining long-term Service Agreements that add even greater value to customers.

About ODESIA Group Inc.

ODESIA is an international corporation specialized in business-intelligence (BI) solutions, decision-process management and business analytics for large and medium-sized companies. The Company provides customers with a complete solution, regardless of technical challenges involved. For more information visit us at www.odesia.com

Disclaimer in regards to forward-looking statements

This press release contains forward-looking statements which reflect ODESIA's current expectations regarding future events and may involve risks or uncertainties. Actual results could differ materially from those projected herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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