Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today it has signed a contract for over $13.5 million (CAD) with the Land Title and Survey Authority of British Columbia (LTSA) to modernize the LTSA’s existing information solutions and upgrade associated business processes. The contract allows for additional amounts for maintenance and support.
MDA will work with the LTSA to modernize existing information solutions, which support the Land Title and Surveyor General Divisions, including enhancements to land title and survey search and filing functionality. MDA will assist in the development of customer portals for legal professionals and land surveyors that will modernize the way these professionals access the LTSA’s services. Organizational change management services will be provided by MDA to support the planning, training and operational introduction of the LTSA’s new solution. MDA will also provide systems maintenance support for the existing Land Title Register and associated services during the modernization initiative, and subsequently, for the new Land Title Register following deployment.
This contract award signals the continuation of a long and successful working relationship between MDA and the LTSA that began in 1999 with MDA's operation of BC OnLine, where land title instrument transactions represent over 50% of annual volumes. MDA assisted with the development of the LTSA’s Electronic Filing System for land title instruments in 2004, and surveys plans (2004 over Crown Land, and 2008 to the Land Title Register), and continues to maintain the service.
Godfrey Archbold, president and CEO of LTSA said ‘We have complete confidence in MDA as our partner in the LTSA’s business modernization initiative. Increased levels of automation will be introduced and the consistency, accuracy, and efficiency of land title registrations will be enhanced for both external customers and employees. This initiative is essential to meet our service level commitments into the future and to ensure that the LTSA’s business is sustainable from an economic, human resource, and technology perspective.’
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 information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,200 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. The forward-looking statements in this regard include statements regarding the launch of a property claims estimating solution (the "Solution"). Any such forward-looking statements are based on MDA’s current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. 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. The factors and assumptions underlying the forward-looking statements in this release include the NCR performing as expected. Any such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from current expectations. MDA cautions readers that should certain risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. The risks that could cause actual results to differ from current expectations include inherent risks in the information products market, including general economic, regulations and competitor changes; changes in government priorities, funding levels, contracts and regulations; susceptibility of customers in property transaction-related industries; and failure to anticipate changes in technology, technical standards and product offerings or comply with the requisite standards.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to MDA’s continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at www.sedar.com or on MDA’s website at www.mdacorporation.com
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.