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Quisitive Announces Closing of Acquisition of Catapult Systems

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  • QUISF

TORONTO, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Quisitive Technology Solutions, Inc. (“Quisitive” or the “Company”) (TSXV: QUIS), a premier Microsoft solutions provider and payment solutions provider, announced that it has completed the acquisition of Catapult Systems, LLC (“Catapult”), an Austin, Texas based Microsoft-focused digital solutions and services provider (the “Transaction”). The Transaction was previously announced on November 8, 2021.

The acquisition of Catapult Systems is a transformational milestone in Quisitive’s journey to becoming the premier, global Microsoft partner. This acquisition delivers significant scale to Quisitive’s Cloud Solutions segment through expanded capabilities, including a robust Managed Services offering, net new Security & Compliance practice, and added capacity in Digital Workplace. Additionally, Catapult expands Quisitive’s North American footprint to include four new employee hubs and increases headcount to over 700 employees, including 280 Microsoft Certified Professionals.

With 10 Microsoft Advanced Specializations and multiple Microsoft Partner of the Year awards, Catapult also further strengthens the strategic partnership with Microsoft and continues Quisitive’s exclusive focus on the Microsoft platform. This shared philosophy, alongside similar culture and customer service approaches, provides significant synergies for the integration of Catapult into Quisitive Cloud Solutions.

“Our team is thrilled to be joining Quisitive as our shared philosophy, culture, and focus on customer service is a clear fit with the Catapult brand and reputation. Quisitive is building a novel solution provider with both the broad technical expertise to serve expansive customer needs and the rigorous business acumen that turns implementation into genuine strategy. That level of service and expertise will bring remarkable value to our joint customers,” said Catapult Systems CEO Terri Burmeister.

Quisitive CEO Mike Reinhart added: “This acquisition represents a turning point in our journey to becoming the Microsoft partner of the future by adding technical depth, expanded services, and complementary IP. Catapult has an impeccable reputation for digital transformation, and their expertise, leadership, and Microsoft partnership are all aligned with our strategic growth targets for Cloud Solutions. Catapult’s integration into our marketing, sales, and delivery organizations is bringing exceptional strength and value to Quisitive and our customers.”

About Quisitive:
Quisitive (TSXV: QUIS) is a premier, global Microsoft partner that harnesses the Microsoft platform and complementary technologies, including custom solutions and first-party offerings, to generate transformational impact for enterprise customers. Our Cloud Solutions business focuses on helping enterprises move, operate, and innovate in the three Microsoft clouds. Centering on our LedgerPay product suite, our Payments Solutions business leverages the Microsoft Azure cloud to transform the payment processing industry into an entirely new source of customer engagement and consumer value. Quisitive serves clients globally from fifteen employee hubs across the world. For more information, visit www.Quisitive.com and follow @BeQuisitive.

About Catapult:
Catapult is a Microsoft-focused solutions and services firm that specializes in imagining, building, and sustaining digital transformation and cloud-based solutions that people love to use. Catapult has consistently been recognized as a leading Microsoft Partner with 10 Advanced Specializations and 17 Microsoft competencies. Catapult was recognized as the 2020 MSUS Partner Award Winner Azure – DevOps, Top Microsoft 365 Security Partner for FY20, and named a finalist of the Data Analytics 2020 Microsoft Partner of the Year Award. Catapult has offices nationwide.

Quisitive Investor Contact
Matt Glover and John Yi
Gateway Investor Relations
QUIS@gatewayir.com
949-574-3860

Quisitive Management Contact
Mike Reinhart
President and Chief Executive Officer
mike.reinhart@quisitive.com
949-574-3860

Tami Anders
Chief of Staff
tami.anders@quisitive.com

Cautionary Note Regarding Forward Looking Information
This news release contains certain “forward‐looking information” and “forward‐looking statements” (collectively, “forward‐looking statements”) within the meaning of applicable Canadian securities legislation regarding Quisitive and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward‐looking statements. Forward‐looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. These forward-looking statements include, but are not limited to, statements relating to: information concerning anticipated synergies, growth prospectus, projected milestones and timelines, and other anticipated benefits and impacts of the Transaction.

The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the headings “Cautionary Statement Regarding Forward-Looking Information” and “Risk Factors” in the prospectus supplement to the Company’s amended and restated short form base shelf prospectus dated September 10, 2021 in relation to the offering of common shares of the Company and the Transaction, and those factors described under the heading "Risks Factors" in the Company's annual information form dated August 20, 2021, each of which are available under the Company’s issuer profile on SEDAR at www.sedar.com. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.


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