SIRIUS Conseils Acquires a Majority Interest in Abak Software

MONTRÉAL, QUÉBEC--(Marketwire - Oct. 16, 2012) - SIRIUS Conseils, a company with a high level of expertise in project management and business analysis, confirms that it has secured a majority interest in Abak Software, an internationally-known provider of software to help professional service firms manage time sheets, invoicing, expense reports and project budgets. With this transaction, SIRIUS Conseils has added a new, complementary product to its current offer and consolidates its objective, initiated earlier this year with the strategic partnership signed with VGaPP, of adding business products to the mix. This transaction also confirms the company's presence in Quebec City and will create opportunities for new markets in Canada, the United States, Europe and Asia, where the Abak software is already widely distributed. SIRIUS Conseils' recognized expertise in project management will now be combined with Abak's enhanced functionalities, enabling the company to give managers additional support and to develop new opportunities in target markets.

Based in Quebec City, Abak Software has been making its mark for 15 years, mainly in Canada, the United States and Europe, by providing an efficient and flexible solution that simplify invoicing and time sheet management for professional service firms in the accounting, engineering and architecture sectors, among others. With 15 employees and a list of 600 clients comprising 25,000 product users, Abak Software is a natural fit with SIRIUS Conseils, which will leverage its recognized expertise in project management to ensure the development of the solution and to improve user experience.

"Buying a majority interest in Abak Software is part of our growth strategy to expand distribution of our services and products across Canada, the United States and Europe by improving our offer with software products that are perfectly aligned with our project management mandate," explained Benoît Godbout, President, SIRIUS Conseils. "The Abak solution in itself adds considerable value to our offer and allows us to develop new markets, and will make us more competitive on the market as well."

"This transaction is an important stepping stone for Abak, because it gives us access to a high level of expertise in project management and opens up the European market, where SIRIUS Conseils already has a strong presence," stated Guy Boisvert, President and Founder, Abak Software. "We are thrilled to be joining forces with a high-calibre company like SIRIUS Conseils and to benefit from the kind of support and expertise that will help us address the growing needs of our clients, as well as accelerate our own development."

Abak Software will continue to use its name for operations in Quebec City, as an affiliate of SIRIUS Conseils. The team will remain unchanged to make certain that clients continue to receive the same quality of service that built Abak's reputation in various markets.

About SIRIUS Conseils

Founded in 1999, SIRIUS Conseils is a leader in project management and business analysis in Quebec. Thank to its high level of expertise and its unique and proven methodologies, SIRIUS Conseils helps organizations in various sectors create value and increase project performance by optimizing their operations and developing the potential of their human capital. The company's integrated offer comprises all aspects of project management and business analysis, including, most notably, creating private and public training programs, evaluating skills and facilitating acquisition of new skills, as well as the implementation of solutions, tools, projects, business analysis, project management offices, performance audits, dashboards and solutions for rescuing projects in trouble.

An official REP (Registered Education Provider) provider for Project Management Institute (PMI) and International Institute of Business Analysis^® (IIBA^®), SIRIUS has developed exclusive, cutting-edge methodologies based on the best practices in project management and business analysis from around the world. For more information, visit: http://www.siriusconseils.com.

About Abak Software

Founded in 1997, Abak Software is specialized in business management software development for the professional service field, in verticals like accounting, engineering, consulting and architecture. Abak, which is a 100% Canadian product, is a flexible solution for time and billing, workflow and project cost management that is sold all over the world. For more information, visit our website: www.abaksoftware.com.