REGINA, Saskatchewan, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Information Services Corporation (TSX:ISV) (“ISC” or the “Company”) is pleased to announce a new contract through its Technology Solutions segment. ISC has secured a US$3.2 million (approx. CA$4.5 million) contract with the State of Michigan for a period of five years, with the option of an extension for up to five more years.
The new contract — which includes delivery of a modern, online Uniform Commercial Code (“UCC”) System using the Company’s RegSys platform — will support service improvement and efficiencies for the State of Michigan. The platform includes robust functionality and will enable 24/7 filing and searching of finance statements, federal tax liens, state tax liens and unemployment liens, enabling greater customer flexibility and enhanced functionality, as well as back-office improvements for State staff.
Shawn Peters, President and CEO of ISC, commented: “Our experience and proven expertise in the development and implementation of registry systems will make us a valuable resource for the State of Michigan for years to come. We are excited to work with them on this critical modernization project utilizing our RegSys platform, and are equally excited about both the realized and potential growth of our Technology Solutions segment.”
For sales inquiries or to request a product demonstration of the RegSys platform, please email us at contact@isc.ca
See how ISC’s three lines of business are growing the registry operations, technology solutions and information services landscape: https://company.isc.ca/what-we-do
About ISC
Headquartered in Canada, ISC is a leading provider of registry and information management services for public data and records. Throughout our history, we have delivered value to our clients by providing solutions to manage, secure and administer information through our Registry Operations, Services and Technology Solutions segments. ISC is focused on sustaining its core business while pursuing new growth opportunities. The Class A Shares of ISC trade on the Toronto Stock Exchange under the symbol ISV.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian securities laws including, without limitation, statements related to the development and implementation of a modernized UCC system for the State of Michigan and anticipated benefits. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to changes in economic, market and business conditions, implementation within the time specified and at the expected cost, changes in technology and customers’ demands and expectations, termination risks and other risks detailed from time to time in the filings made by the Company including those detailed in ISC’s Annual Information Form for the year ended December 31, 2022 and ISC’s unaudited Condensed Consolidated Interim Financial Statements and Notes and Management’s Discussion and Analysis for the second quarter ended June 30, 2023, copies of which are filed on SEDAR+ at www.sedarplus.ca.
The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities laws, ISC assumes no obligation to update or revise such information to reflect new events or circumstances.
Investor Contact
Jonathan Hackshaw
Senior Director, Investor Relations & Capital Markets
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
investor.relations@isc.ca
Media Contact
Jodi Bosnjak
External Communications Specialist
Toll Free: 1-855-341-8363 in North America or 1-306-798-1137
corp.communications@isc.ca
