Reporters Becomes a Part of Adastra Corporation
Prague, August 16, 2007 – Adastra Corporation and Reporters announce that Reporters, a Corporate Performance Management (CPM) specialist, joins Adastra Corporation, an international consulting and software company. The acquisition is deemed effective as of August 16, 2007. Reporters will operate as an independent company with the same organizational structure and operations as before.
“We launched the company in the Czech market precisely two years ago. Since then we have established Reporters as the Cognos and CPM market leader from the ground up. We are now planning to expand our concept outside of the Czech Republic. The acquisition by Adastra builds a unique bridge for us and we intend to take full advantage of this bridge,” says Tomas Barta, Chief Executive Officer, Reporters.
“The operations of the two companies complement each another. The acquisition of such a dynamic company as Reporters, gives me genuine joy,” states Jan Cervinka, Chief Executive Officer, Adastra Corporation. “Adastra’s revenue, thanks to the acquisition of Reporters, will surpass the CZK 1 billion (EUR 35 million) milestone, which is our next turning point on our way to building a leading company.“
“To preserve the unique start-up culture of Reporters, the company will conduct business under its own brand as an independent body, focusing on the Cognos platform for the CPM industry,” adds Jan Cervinka. “The affiliation of each company to one represents an opportunity for both firms to better serve their clients and further expand in both, the Czech and international markets.”
Jan Cervinka, CEO of Adastra Corporation and Tomas Barta, CEO of Reporters, plledged the future co-operation of the companies (Press conference, caffe of hotel Imperial, Prague).
About Adastra Corporation
Adastra Corporation is an international consultancy providing leading software solutions and services. Adastra’s traditional core competence in Data Warehousing and Business Intelligence has been strengthened by its divisions of Master Data Management and Application Development. The Company’s European activities are managed from its headquarters in Prague, and via branches in Bratislava, Ostrava, and Frankfurt. Adastra’s North American headquarters are located in Toronto, Canada. Adastra employs over 500 consultants worldwide. In 2006, the Company attained total revenues of CZK 731.8 million (EUR 25.5 million), which represents 35 % year-over-year growth. The Company’s technologically independent solutions reflect its extensive expertise, drawn from the completion of hundreds of successful projects. Our clients include leading organizations such as Ahold, BMO Bank of Montreal, Barclays Bank, Bell Canada, Cetelem, Ceska pojistovna, DHL, Dresdner Bank, Telefónica O2, GTS Novera, HVB Bank, ING Group, Roche Diagnostics, Telefónica O2, Vodafone, CSOB Pojistovna, RBC Royal Bank, and Komercni banka amongst others.
About Reporters
Reporters are pure specialists on Cognos and Corporate Performance Management. Via Cognos platform and methodologies such as balanced scorecard (BSC), Reporters provides its customers a leading tool for managing, measuring and improving performance. In addition to this key focus, the company builds its uniqueness on an active customer approach.
Financial details of the acquisition have not been released.
Further information: Daniela Beranová, daniela.beranova@adastracorp