Acquisition builds upon long-standing relationship between Calian and SimFront
OTTAWA, ON / ACCESSWIRE / October 7, 2021 / Calian® Group Ltd. (TSX:CGY), provider of trusted solutions across Advanced Technologies, Health, Learning and IT and Cyber Solutions segments, announces the acquisition of Canadian-based SimFront, effective immediately.
Calian and SimFront have a 15-year collaborative relationship within the Department of National Defence.
During this 15-year period, the SimFront Virtual Command and Control Interface (VCCI) Tool Suite has served as the cornerstone for Simulation-to-Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) integration/interoperability and After-Action Review (AAR). The VCCI Tool Suite combined with Calian MaestroEDE™ will now enable Calian to provide end-to-end military training and simulation capabilities and pursue new opportunities with customers seeking integration and immersive training support. SimFront integration and augmented/virtual/mixed reality solutions elevate Calian capabilities in this area.
SimFront customers include Land Forces and Navy in the Canadian Department of National Defence, the UK Ministry of Defence and the Asia Pacific Region. Their simulation-to-C4ISR integration expertise and solutions help strengthen decision-making, performance and readiness of tactical commanders and staff in operational environments.
In addition to strong defence experience, SimFront is also a leader in immersive training simulations for the healthcare and oil & gas industries and has been developing simulation software since 2013. These simulations help improve employee safety and performance against identified tasks.
"We look forward to building upon the long-standing relationship we have with Calian. SimFront is committed to delivering quality solutions to our existing, joint customers and supporting the Calian expansion into the European market," said Chad Watson, Director, SimFront.
"Having successfully collaborated with SimFront for 15 years, I am confident that this is a solid culture fit. Our customers need an end-to-end offering in the training and simulation space, and with SimFront we will continue to over-deliver on customer expectations. This acquisition aligns strongly with all four pillars of our growth strategy - continuous improvement, customer retention, customer diversification and innovation," said Kevin Ford, Calian CEO.
The definitive agreement is valued at up to CDN$15 million. The amount paid on closing is CDN$9 million and contains earnouts of up to CDN$6 million based on the achievement of a certain level of EBITDA performance over the next 24 months.
The acquisition of SimFront is effective October 7, 2021.
About Calian Learning
Calian Learning provides comprehensive, specialized learning services to public and private sector organizations, including the Canadian Armed Forces. With a focus on reduced time to competency, the Calian learning experts help customers achieve learning outcomes in high fidelity, complex environments. Calian Learning offers full-service training programs and services ranging from needs analysis and design, delivery of on-line, in-person and simulation scenarios, and evaluation and post-event analysis.
About Calian
Calian employs over 4,500 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company's diverse capabilities are delivered through: Advanced Technologies, Health, Learning, and IT and Cyber Solutions. Advanced Technologies provides innovative products, technologies and manufacturing services and solutions for the space, communications, defence, nuclear, government and agriculture sectors. Health manages a network of more than 2,400 healthcare professionals delivering primary care and occupational health services to public and private sector clients across Canada. Learning is a trusted provider of emergency management, consulting and specialized training services and solutions for the Canadian Armed Forces and clients in the defence, health, energy and other sectors. IT and Cyber Solutions supports public and private sector customer requirements for subject matter expertise in the delivery of complex IT and cyber security solutions. Headquartered in Ottawa, the Company's offices and projects span Canada and international markets.
About SimFront
Headquartered in Ottawa, Canada, SimFront simulation-to-C4ISR integration expertise and solutions help advance training, simulation technologies and integrating platforms focused on strengthening decision-making, performance and readiness of tactical commanders and staffs in new operating environments. In 2013, the SimFront team incorporated SimWave as a separate corporate entity, focused on creating immersive experiences within private industry and defence. SimWave was legally amalgamated with SimFront but continues to operate under its trade name of "SimWave". SimWave is a well known and respected brand within industry and has worked on numerous immersive digital applications for a variety of professional sectors across North America and Europe. With over 15 years of experience in training and simulation, supported by a growing team of 50 people comprised of software engineers, specialists in C4ISR, and 3D artists, the teams are dedicated to integrating simulation systems and command and control systems while optimizing the convergence of Live-Virtual-Constructive (LVC) in support of existing and developing Synthetic Training Environment (STE).
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Media inquiries:
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DISCLAIMER
Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company's most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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SOURCE: Calian Group Ltd.
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