ODESIA Group Inc.
TSX VENTURE : ODS

ODESIA Group Inc.

February 18, 2014 16:00 ET

ODESIA to Redeploy Capital in Canadian Business Intelligence Operations

MONTREAL, QUEBEC--(Marketwired - Feb. 18, 2014) - Back in December 2013, after conducting a strategic analysis, ODESIA Group Inc. ("ODESIA" or the "Company") (TSX VENTURE:ODS), sold two of its subsidiaries for a total consideration of $2,0 Million.

These transactions immediately enhanced shareholder value since they provided additional capital in a non-dilutive manner, significantly lowered the level of debt and resulted in a strengthen balance sheet. ODESIA is now significantly better positioned to pursue growth opportunities in its core expertise due to:

  • Substantially improved working capital
  • Significantly lower level of debts
  • Less stress on Company's liquidities
  • Significant accounting gain on disposition
  • Increase in shareholders' equity

"The sale of these two subsidiaries presented the opportunity to monetize lower yielding assets and to redeploy capital into our Canadian Business Intelligence operations," said Nicolas Bonnafous, Chief Executive Officer of ODESIA Group.

  • ODESIA Europe SAS has been a valuable asset; however its primary operations involve lines of business with low profitability in the European market that show no clear path to significant improvement.
  • Interfacing Technologies Inc. was unprofitable for ODESIA. A longer sales' cycle, the lack of a solid pipeline and a very competitive and mature Business Process Management ("BPM") market lead ODESIA's management to conclude that financial resources allocated to ITC would generate better returns to our shareholders by being deployed in our core expertise.

Since 1998, ODESIA has been a visionary and frontrunner in Business Intelligence in Canada. In keeping with its vision, ODESIA is now investing to strengthen its position in emerging BI technologies. "Our customers are asking us for a broader line of analytics solutions; we foresee Big Data Analytics as a significant component in this dynamic and emerging industry. Our forecast of future demand is growing every day and confirms that we are heading in the right direction." said Mr. Bonnafous.

About ODESIA Group Inc.

ODESIA Group Inc. is a Canadian Information Technology (IT) consulting and solutions company headquartered in Montreal. Core competencies are 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.

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