Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that its UK subsidiary xit2 has added several new customers over the past few months and expanded the functionality of its valuation solution to serve these customers.
MDA’s valuation solution is a proprietary Internet based business-to-business solution, which connects the country’s lenders with surveyor panel managers and their panel of chartered surveyors (the equivalent of appraisers in North America). Through this solution MDA manages the interface between lenders and surveyors, which includes surveyor selection, secure electronic document exchange, valuation report generation, payment disbursements, and Quality Assurance services to ensure full compliance with the lender’s requirements.
Dan Friedmann, president and Chief Executive Officer of MDA stated: “We are pleased with the ongoing expansion of our valuation business in the UK, both in terms of the growing customer base as well as the continuing increase in functionality. In addition, our valuation solution positions us very well to address future demands for similar services such as managing mandatory Energy Performance Certificates and other reports that may be prepared by surveyors and home inspectors.”
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 3,000 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.
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.