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Quorum Closes Acquisition of Autovance Technologies Inc.

Sep 06, 2017 - 08:00 ET

CALGARY, ALBERTA--(Marketwired - Sept. 6, 2017) - Quorum Information Technologies Inc. (TSX VENTURE:QIS) ("Quorum" or the "Corporation") is pleased to announce the closing of its arm's-length acquisition of Autovance Technologies Inc. ("Autovance"), as originally announced on August 22, 2017.

About Quorum

Quorum is a North American company focused on developing, marketing, implementing and supporting its dealership and customer management system, XSELLERATOR. Quorum offers the system to franchised, independent and some non-automotive dealerships in Canada and the United States. XSELLERATOR automates, integrates and streamlines every process across departments in a dealership. The system includes tools designed to maximize revenue opportunities for dealerships such as customer relationship management (CRM) and service inspection and quoting processes. Quorum is a Microsoft partner and XSELLERATOR is developed with modern mobile-enabled technology. 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.

Forward-Looking Information

This news release contains forward-looking information. 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. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include market and industry conditions affecting Quorum's operations, the successful integration of Autovance's products, employees and customers with Quorum, and the successful execution of Quorum's strategic initiatives involving Autovance.

Although the Corporation 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. The Corporation 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) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.


Maury Marks
403-777-0036
MarksM@QuorumDMS.com

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COPYRIGHT © 2014 QUORUM INFORMATION TECHNOLOGIES INC.