MONTRÉAL, QUÉBEC--(Marketwired - Dec. 19, 2013) - ODESIA Group Inc. ("ODESIA" or the "Corporation") (TSX VENTURE:ODS), announces that it has closed the sale of all of its interest in Odésia Europe SAS, being 70% of the issued and outstanding shares, to Sirius Services Conseils en Technologie de l'Information Inc. (« Sirius »).
For a total cash consideration of $1,024,365 payable over two years, the transaction allows the Corporation to focus its North American activities. Odésia Europe SAS' total debt of approximately $1,526,000 and previously consolidated in the Corporation's financial statements, will now be assumed by Sirius.
Nicolas Bonnafous, President and CEO of ODESIA, said: "We are proud of this transaction because, in addition of being a winning deal for both sides, we leave this subsidiary in good financial condition considering its assets, customer base and revenues."
About ODESIA Group Inc.
Founded in 1998, ODESIA Group Inc. is a Canadian Information Technology (IT) consulting and solutions company headquartered in Montreal. ODESIA offers solutions in Business Intelligence, Business Process Management and Big Data Analytics. ODESIA's mission is to help its clients improve operations efficiency, enhance process performance and make better business decisions by mastering the right information at the right time and the right place. Website: www.odesia.com
ODESIA is listed on the Toronto Venture exchange under the symbol "ODS".
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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.