Geac Computer Corp Ltd, the Canadian provider of software and services for various vertical markets, has strengthened its publishing group with the acquisition of Cybergraphic Systems Ltd. Melbourne, Australia-based Cybergraphic provides software systems for editorial, advertising and internet-related functions of the publishing industry and has offices in England, the Asia/Pacific region and North America.
Geac says it paid C$16m ($10.9m) for the Australian company, which will be integrated into the Geac Publishing Systems business unit. Cybergraphic claims its revenues have grown at over 20% annually for the most recent three fiscal years to a current run rate of C$22m ($14.9m). Its customers include Knight- Ridder, News Corp and the Fairfax Group.
Geac asserts that the move is a perfect example of its acquisition strategy, in that it adds significant market share to an existing vertical market, while providing synergies in the distribution channel. It also says the purchase represents a major step toward its goal of offering comprehensive production systems for the newspaper publishing industry.
