Quorum Information Technologies Inc.
TSX VENTURE : QIS

Quorum Information Technologies Inc.

July 07, 2016 09:23 ET

Quorum Receives Funding From Government of Canada

CALGARY, ALBERTA--(Marketwired - July 7, 2016) - Quorum Information Technologies Inc. (TSX VENTURE:QIS) (Quorum) announced today that it is expanding its operations in St. John's, Newfoundland, aided by the funding it will receive from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). NRC-IRAP will provide non-repayable financing of up to $272,801 to assist Quorum in undertaking a project to refactor its Communicator product into a mobile unified communication solution, which is both integrated into Quorum's world class XSELLERATOR dealership software and also capable of being delivered to other vertical markets.

The publicly traded Calgary-based company opened an office in St. John's in 2006 and that office has grown from a staff of four to its current 69 employees. Quorum's development, support and corporate groups are all located in St. John's, which is also the Company's largest office.

"There are significant business and technical risks associated with our Communicator project. Using the latest software development tools and leveraging a cloud-based architecture, Quorum intends to provide a device-agnostic mobile solution that provides the same tight workflow management and customer communication efficiencies as the legacy Communicator product. The refactored Communicator product will have to provide services not only to the traditional dealership on-premise architecture but to Quorum's new hosted service model currently in development. We are delighted that NRC-IRAP is supporting the development of this technology as it reduces the risk of our investment and hopefully makes the new mobile Communicator application a reality for our dealership clients. The software development resources for the project will come from our St. John's office. We are pleased with the skilled, creative talent that we have found in St. John's that will be instrumental in helping try to overcome the technical risks associated with the project," said Maury Marks, Quorum's President and CEO.

About Quorum

Quorum is a North American company focused on developing, marketing, implementing and supporting its XSELLERATOR product for GM, Ford, Chrysler, Toyota, Hyundai, Kia, Nissan, Subaru, NAPA and Bumper to Bumper franchised dealership customers as well as other franchised, independent and some non-automotive dealerships. XSELLERATOR is a dealership and customer management software product that automates, integrates and streamlines every process across departments in a dealership. One of the select North American suppliers under General Motors' DTAP program, Quorum is also one of largest DMS providers for GM's Canadian dealerships with 25% of the market. Quorum is a Microsoft Partner in both Canada and the United States. Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS and in 2016 was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange. For additional information please go to www.QuorumDMS.com.

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

Contact Information