News

Canadian ISO acquired by IT company

May 14, 2002

MONTREAL -- Information-technology company Cognicase Inc. has acquired computer services firm Meta-4 Systems Corp., which manages almost 5,000 ATMs and runs more than 600 of its own machines.

Meta-4, which employs 158 people across Canada, also maintains about 4,300 video lottery terminals in Quebec.

According to its Web site, Cognicase specializes in the integration of e-business and Internet/wireless technology.

The acquisition serves as a base for Cognicase's entry into the processing, monitoring and outsourcing of ATM and point-of-sale market, Cognicase president Ronald Brisebois said in a statement.

Cognicase, whose largest client is the National Bank of Canada, recently reported a $7.2 million profit for 2002's first quarter on revenue of $123.1 million. The 17 per cent rise in revenue was attributed to recent acquisitions.

Both companies are based in Montreal.