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)
Upgrading tech without the price tag: How one Ottawa company is changing the game
They say, “If it ain’t broke, don’t fix it.” But what if it’s outdated? Keeping up with the latest technologies can be a challenge when the pace of innovation is
Deep retrofits, done differently: new model for building upgrades
Deep energy retrofits are complex and costly – but also unpredictable. Each building has its own unique characteristics, shaped by its history, systems, and structure. For Killam Apartment REIT and
“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.
