Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today a new service provided in partnership with the UK Land Registry. Based on information supplied by the Land Registry and multiple other sources, MDA will offer commercial property developers and other stakeholders ongoing electronic access to a complete suite of property-related information and tools, covering all the individual properties in a commercial development area.
The new service takes the current land-referencing service provided by property solicitors to a whole new level. Under this new service MDA can offer all authorized stakeholders in a commercial development with electronic subscriptions to a geospatial representation of all the relevant land-related data layers in a development area.
Primary customers for the service will be the property solicitors who are engaged by developers and local governments to pull together all the property-related information that may have legal relevance, including all title, environmental, and planning aspects, and to maintain that information for the duration of the development and beyond.
The Company has now signed up a major commercial law firm and its commercial client in England to provide the new electronic service for a specific large development project with an estimated duration of 15 years.
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.
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. (“MDA”) with respect to future events and financial performance. The forward-looking statements in this regard include statements regarding the launch of a new service provided in partnership with the UK Land Registry (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 Solution performing as expected. 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.