NexJ adds expertise in data management, analytics and mobile solutions
to complement its finance, insurance and healthcare offerings
TORONTO, Nov. 1, 2012 /PRNewswire/ - NexJ Systems Inc., (TSX: NXJ) a provider of cloud-based software, delivering enterprise
solutions for the financial services, insurance, and healthcare
industries, today announced the acquisition of Broadstreet Data Solutions Inc. (Broadstreet Data), a leading boutique data solutions firm. The
acquisition brings complementary expertise in data governance and
management, data integration and quality, business intelligence and
analytics, and mobile application development to NexJ and its
solutions. Tim Stanley, President of Broadstreet Data, brings extensive
IT sales and leadership experience and joins NexJ as Senior Vice
President (SVP) of Global Sales.
"Broadstreet Data is a strategic complement to our business and all our
target markets," said William M. Tatham, Chief Executive Officer, NexJ
Systems. "They are cash flow positive and profitable and add
significant expertise in data management, analytics and mobile
solutions - expertise I believe will further differentiate us in the
market place by broadening our offerings. We are also very pleased to
be strengthening our management team with new sales leadership in Tim
Stanley, and his industry-leading team."
Data Governance and Management
As financial services and insurance organizations look to grow - whether
through mergers and acquisitions that result in large data conversion
projects or driving enterprise cross-selling initiatives - governance
and management of customer data is crucial. These are also crucial
issues in healthcare where adhering to patient privacy regulations is a
Business Intelligence and Data Analytics
From portfolio performance dashboards in financial services to public
health analytics for disease screening, organizations are investing in
business intelligence and embedded analytics to gain the quantitative
insight needed to drive business decisions.
Mobile Application Development
Significant mobile application development expertise is expected to help
financial services and insurance organizations looking to rapidly
deliver mobile banking solutions on smart phones and tablets to
customers, agents and advisors alike. It is also expected to accelerate
the development of a mobile app ecosystem for the NexJ Connected
Wellness Platform. This app ecosystem should benefit people and
healthcare organizations that recognize the value of mobile health
coaching in driving sustainable behaviour change.
"Better analytics, data governance, and mobile portability are three
critical differentiators to CIOs as they look to deploy enterprise
applications," commented Tim Stanley, President of Broadstreet Data.
"We look forward to bringing these skills to NexJ and, in turn,
introducing NexJ's solutions to our financial services and healthcare
clients across North America."
NexJ has agreed to pay up to approximately $8.2 million, based on the
closing price of NexJ common shares on November 1, 2012, in a
combination of cash and common shares which includes certain earn-out
provisions. On closing, NexJ paid cash of $3.2 million and issued
527,905 common shares.
About NexJ Systems Inc.
NexJ is a provider of cloud-based software, delivering enterprise
customer relationship management (CRM) solutions for the financial
services, insurance, and healthcare industries. Our next-generation,
people-centered software combines industry-specific functionality with
information from multiple applications and data stores to provide
comprehensive knowledge of the individual. Organizations use this
knowledge to provide superior sales and service by enabling proactive
interactions that influence behavior.
NexJ was founded by an executive management team with extensive
experience in the successful design and delivery of large-scale,
integrated, enterprise software solutions. For more information about
NexJ Systems visit www.nexj.com, e-mail email@example.com, or call 416-222-5611.
About Broadstreet Data Solutions Inc.
Broadstreet Data is a premium consultancy specializing in Data Analytic,
Integration, Governance and Mobile solutions for large-enterprise
customers in Canada and the US. Broadstreet Data provides
market-leading data solution development skills and vertical domain
expertise to major banks, insurance, retail, consumer packaged goods,
healthcare, and public sector clients.
Founded in 2008, Broadstreet Data has partnered with over thirty Global
2000 firms to design and develop complex data solutions. For more
information about Broadstreet Data visit www.broadstreetdata.com.
NexJ Forward-looking Statement
Certain statements in this press release may contain words considered
forward-looking statements or information under applicable securities
laws. These statements are based on NexJ's current expectations,
estimates, forecasts and projections about the operating environment,
economies and markets in which the company operates. These statements
are subject to important assumptions, risks and uncertainties that are
difficult to predict, and the actual outcome may be materially
different. NexJ's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be inaccurate
and consequently its actual results could differ materially from the
expectations set out herein. For additional information with respect to
risks and other factors which could occur, see NexJ's securities
filings with the OSC and other securities regulators. NexJ securities
filings are available on www.sedar.com. Unless otherwise required by applicable securities laws, NexJ
disclaims any intention or obligations to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE NexJ Systems Inc.