Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today a strategic geographic expansion of its property information business through the acquisition of the Rochford Brady Group, one of the largest providers of legal property and company information in the Republic of Ireland.
Headquartered in Dublin, Rochford Brady has 80 employees and an annual revenue turn over in excess of €9 million (CDN$13 million). The company's LawLink and Company Information Direct (CID) online channels have established Rochford Brady as the leading electronic provider of authoritative property and company information to over 1,000 firms in the legal, accounting and banking sector throughout Ireland.
Philip Grant, Rochford Brady's prior owner, who will continue as CEO, said "MDA is an internationally known and respected multinational company headquartered in Canada, which specializes in leading edge property information solutions for Governments and Business customers worldwide; this new relationship with MDA will provide us with the framework and resources required to realize our expansion plans to the benefit of our clients and the Irish Government."
Daniel Friedmann, MDA President and CEO said "building on our established presence in the property information markets in England, Wales and Scotland, this acquisition in the Republic of Ireland represents another key building block in our strategy to be a leading supplier in the property information markets throughout the British Isles."
The acquisition is expected to be slightly accretive in 2006.
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 2,700 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About Rochford Brady Group (RBG)
RBG is an expert in providing information to business professionals. As Ireland's largest online and offline search provider, we have evolved our information services from statutory documents to function-driven information products. rbonline is the online information and development arm of Rochford Brady Group, and supplies Ireland's leading information services.
LawLink Ltd - Ireland's top legal information website which sets the legal standard for online information, providing essential information to the top law firms in Ireland.
Company Information Direct Ltd (CID) - supplying information on every limited company, every registered business name, every director and all scanned documents in Ireland. These online services ensure business and legal research is efficient, accurate and timely.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.