Sylogist Ltd.
TSX VENTURE : SYZ

Sylogist Ltd.

August 02, 2016 16:14 ET

Sylogist Signs Global Agreement for Public Sector with Microsoft

CALGARY, ALBERTA--(Marketwired - Aug. 2, 2016) - This press release is not for distribution to United States Newswire Services or for dissemination in the United States.

Sylogist Ltd. (TSX VENTURE:SYZ) ("Sylogist" or the "Company"), through its Serenic Software operating division, is pleased to announce that it has amended its Solution Provider Agreement, providing a long term, worldwide commitment, with Microsoft Corporation. The new agreement addresses the large opportunity emerging in the public sector ERP marketplace, with particular emphasis on the North American mid-markets.

Serenic Software has long been a top Microsoft independent software vendor, providing a complete public sector accounting solution through its Serenic Navigator fund, encumbrance and grant management accounting and HCM payroll software. Embedded in Navigator is Microsoft's most widely used ERP platform for mid-size enterprises, Microsoft Dynamics NAV. This new agreement extends the Sylogist and Serenic Software/Microsoft relationship beyond Serenic's traditional focus on non-government organizations, not-for-profits, government special agencies and government financial organizations, to include school districts and local government.

The agreement combines Sylogist's leading expertise in local government, school districts and utility authorities (through its Bellamy Software operating division's technology) with the public sector fund accounting experience of Serenic Software. Together, Serenic and Bellamy have over 1000 customers. The solutions are available in three languages; English, Spanish and French.

This strategic relationship provides tremendous opportunities for Sylogist and Microsoft. Sylogist has many years of experience in public sector and has been an early adopter of cloud based offerings. Microsoft's "Cloud First" strategy gives customers the choice of having their systems hosted on the secure Microsoft Azure cloud or on-premises. Both subscription and traditional perpetual licensing will be available to match the customers' preferred platform.

Sylogist customers will now gain access to the only comprehensive, mid-market solution for the public sector with Microsoft Dynamics NAV technology at its core, as well as the ability to host this solution on the secure Microsoft Azure cloud. The Serenic Navigator solution is capable of seamlessly integrating with Microsoft Dynamics CRM and other Microsoft products used widely by public sector organizations, including Office and Office365, Sharepoint and Exchange Server. Sylogist intends to provide these public sector solutions, on a royalty bearing basis, to its current Serenic partner channel and prospective, qualified new partners to extend and build their business scale. Sylogist will also sell the public sector solutions directly through its divisions' sales forces as it has done in the past.

"The major opportunity in the United States and Canada is for the large base of public sector organizations suffering with multi-vendor legacy systems. Sylogist will now be able to offer this large group a comprehensive solution, fully integrated with their other Microsoft products, operating in the secure Microsoft Azure cloud or on-premises of the customers' choosing. Sylogist will continue to support and enhance its current public sector financial solutions in Canada. The integration of the Microsoft Dynamics NAV based financial solution, via Serenic Navigator, with the Bellamy analytics, budgeting, asset management, revenue and operating modules, provides a compelling offering to new customers and an attractive future migration option for our current customers" said Jim Wilson, President and CEO of Sylogist.

About Sylogist

Sylogist is a technology innovation company which, through strategic acquisitions, investments and operations management, provides intellectual property solutions to a wide range of public and private sector customers.

The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.

About Serenic Software, Inc.

Serenic Software, Inc. is an industry-leading publisher of mission-critical software products that satisfy the unique and sophisticated functionality requirements of public sector entities, nonprofit organizations, educational institutions, and government agencies. Serenic delivers highly scalable software solutions which serve the needs of an international clientele. Serenic Navigator's multi-language and multi-currency capabilities meet the unique requirements for accounting and operational systems that must be implemented in multiple locations throughout the world.

Forward-looking Statements

This news release contains forward-looking information which is not comprised of historical facts. These statements typically use words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements with respect to Sylogist's key investments and its products potentially reaching broader markets. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information includes Sylogist's ability to integrate technologies, to realize operating efficiencies, its ability to attract customers and realize on its investments. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

-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-

Contact Information

  • Jim Wilson, President and CEO
    Brian Grassby, Vice President, Finance and CFO
    Sylogist Ltd.
    (403) 266-4808
    www.sylogist.com