In-Touch Survey Systems announced Tuesday it is selling its IMS division to a new company, to be called IPSG Technology Inc.
The sale, which is expected to close Jan. 1, will see all assets of In-Touch’s IMS division, as well as about $50,000 in working capital go to IPSG Technology. Certain staff and contractors will also be transferred over.
In-Touch will retain 49 per cent ownership of the new company, with the other 51 per cent held through a holding company wholly-owned by a former In-Touch employee.
OBJ360 (Sponsored)
REDBLACKS linebacker loves playing in home city, but might love giving back more
As a linebacker for the Ottawa REDBLACKS, Ottawa native James Peter says he’s “extremely grateful” to be one of the rare CFL players with the opportunity to play high school,
Howard Silver doesn’t like being in the spotlight, but he recognizes there are times when it’s important to step forward — and this is one of them. “I’m really doing
“In-Touch has been on a path for the past two years to focus its energies on software applications,” In-Touch president and CEO Cameron Watt said in a statement. “The divestiture of IPSG will help us focus our energies and resources along with giving IPSG the breathing room needed to grow its business.”
In-Touch will continue providing executive guidance to the new company, and will also assist IPSG in leveraging current In-Touch product capabilities.
