newsSolars Computing Systems Inc (C-SCS) - News RSolars Computing Systems Inc (C-SCS) - News Release
SCS Solars purchases Tech7 Systems, SpeedRes technology
SCS Solars Computing Systems Inc SCS
Shares issued 55,223,750 Oct 3 2003 close $ 0.28
Monday October 6 2003 News Release
Mr. Rick Ridding reports
SCS SOLARS PURCHASES ACCOVIA SPEEDRES; SOLARS EXPANDS CLIENT BASE WITH MORE SMALL AND MID-SIZE TRAVEL SERVICE PROVIDERS
SCS Solars Computing Systems has purchased Accovia Inc.'s Portland-based operation, formally known as Tech7 Systems Inc. This purchase includes the SpeedRes technology solution, associated contracts, related assets and technical support. The terms of the sale involve cash, commissions and royalties.
Accovia and Solars also announced that they have entered into discussions regarding a possible strategic partnership aimed at leveraging unique market synergies, based on the companies' respective technologies. The Solars acquisition of the Portland operation and SpeedRes technology is not contingent upon an additional partnership agreement.
Accovia SpeedRes is a reservations, accounting, operations and marketing system designed for small- to mid-size travel agencies, tour operators and travel wholesalers.
"This acquisition automatically expands our market reach in North America by adding the SpeedRes clients to our customer base," said Rick Ridding, president of Solars. "While we intend to continue to fully support and maintain the SpeedRes solution, we are very confident that the bulk of the customer base will choose to migrate to Solars's TourTek technology. TourTek is cutting-edge tour inventory management software with superior I/P functionality, available in a service bureau format. Acquiring SpeedRes gives us a broader audience to whom we can offer this superior application."
"We are committed to providing travel suppliers, wholesalers and retailers with state-of-the-art technology solutions for procuring, packaging, distributing and managing multicomponent travel services. We are considering Solars's consolidator content as a viable complement to our e-procurement offering," said Claude Guay, president and chief executive officer of Accovia. "The current transaction with Solars allows us to focus our development, sales and marketing efforts on dynamic packaging technology solutions for major travel providers, while ensuring that smaller operators continue to receive quality products and services."
About Accovia
Accovia, Inc. is the global leader in dynamic packaging technology for the travel industry. The company offers the industry's most robust travel automation and management product suite which includes automated procurement, dynamic packaging, e-commerce and e-distribution of travel services through GDS, call centre and Internet travel channels. Accovia's technology solutions enable travel marketers and distributors to significantly increase profit margins through the ability to dynamically create and customize travel packages, which are then sold under a single price. The company provides the only complete travel distribution service that cost-effectively connects travel marketers and distributors to GDSs and Internet travel channels using a single connection. Accovia's technology solutions can be fully customized and privately labelled to accommodate diverse business models. More than 100 travel companies in 11 countries use Accovia's technology to send over 20 million people on trips each year. Founded in 1985, the company has offices in the United States, Canada and France. For more information about Accovia, visit www.accovia.com.
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