FOR: Quorum Information Technologies Inc.
TSX VENTURE SYMBOL:
Province Assists Expansion of Quorum Information Technologies Inc. to Newfoundland and Labrador
JUL 25, 2007 - 11:58 ET
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - July 25, 2007) - The Government of Newfoundland and Labrador entered into a five-year wage rebate agreement today with Quorum Information Technologies Inc. (TSX VENTURE:QIS) (Quorum) which operates a Support and Development office in St. John's, Newfoundland. Quorum is a software developer in the automotive retail industry. Its flagship product, XSELLERATORTM, is a state-of-the-art, highly-functional automotive dealership and customer management software product which automates, integrates and streamlines every process across departments in a dealership.
"I am pleased to announce that the Provincial government will partner with Quorum with a $1.7 million wage rebate payable over five years based on performance," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "Quorum is creating well-paying jobs in Newfoundland and Labrador in a vibrant information technology industry and this partnership could lead to close to 130 jobs over the life of the agreement."
To mitigate the challenging employment environment in Calgary, where Quorum's head office is located, Quorum opened the St. John's office in March 2006 with five employees. The abundant supply of educated and trained high-tech workers in St. John's has allowed the office to grow and become extremely successful, to the point that it now employs 27 full-time people. Quorum has made a commitment to further grow the St. John's office, and as a result, the Government of Newfoundland and Labrador has extended a wage rebate to support Quorum's efforts. This rebate will be initiated when Quorum employs a minimum of 35 full-time people in St. John's, and will continue for a period of five years.
Maury Marks, president and CEO of Quorum said, "We have been extremely pleased with the progress of the St. John's office, in terms of productivity, the economic benefit that it provides the company, and the availability of skilled workers. The stability of the work force is particularly advantageous to Quorum. We are looking forward to continuing our growth in St. John's and are very appreciative of the Government's support."
Headquartered in Calgary, Alberta, Quorum's focus is on developing, marketing, implementing and supporting its DMS products for the automotive vertical. Quorum's suite of dealership and customer management software products automate, integrate and streamline every process across departments in a dealership. One of the select North American suppliers of General Motors' IDMS, Quorum is the third largest DMS provider for GM's Canadian dealerships with over 20% of the market. Quorum is a Microsoft Gold Certified Partner and Field-Level Managed ISV in both Canada and the United States. Quorum Information Technologies is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS.
For additional information, please go to www.QuorumDMS.com.
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Quorum Information Technologies Inc.