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Topic Review: Geac Computer Corporation, Ltd. / Markham, ON - Charles S. Jones, CEO
Document                                    Source   Date                  Description / Excerpt
Insolvency to Innovation Geac 19-Jan-2006 16 Page brochure prepared for final shareholders' meeting. Shows company's stock price growth, profit growth, etc.
The Challenge, The Solution Geac 19-Jan-2006 20 Page brochure about Geac's accomplishments and they key personnel that made these changes possible.
Geac Stock Charts Misc Misc Various stock charts (annotated) of Geac Computer Corporation, Ltd.
"Overcoming the Legacy" 18-Sep-2003 Research report by Richard Tse of Merrill Lynch. BUY Rating.
Compensation Investigation Geac Various Various documents that detailed fees paid to Charles S. Jones by Geac.
History of Charles S. Jones Strategic Transformations Misc Misc Previous work of Mr. Charles S. Jones, CEO of Geac
2000 - 2001: The Crisis
Geac looking to sell all or part of its units 09-May-2000 Article by Showwei Chu. "In a news release, Geac said Tuesday that it has hired CIBC World Markets Inc. as a financial adviser to consider "transactions involving part or all of its businesses," and that two "parties" have approached the firm to discuss possible deals."
Geac Board Appoints New Chairman And Interim Chief Executive Officer SEDAR 03-Nov-2000 The Board of Directors of Geac Computer Corporation Limited (TSE: GAC) announced today the appointment of Mr. Charles S. Jones as nonexecutive Chairman of the Board and Mr. John E. Caldwell as interim President and Chief Executive Officer.
Geac takes big charge in third quarter 14-Mar-2001 "Struggling Geac Computer Corp. Ltd. said Tuesday that it took a $211.4-million charge in the third quarter, the bulk of it for underperforming unit JBA Holdings PLC."
Geac enters into an Agreement for a $20 million financing Geac 31-Mar-2001 "Geac Computer Corporation Limited (TSE: GAC) announced today that it has entered into an agreement with a syndicate of underwriters led by CIBC World Markets Inc. under which it agreed to buy 10,000,000 units via special warrants. Each unit consists of one common share plus one half of a common share purchase warrant at a purchase price of $2.00 per unit, for an aggregate proceeds of $20,000,000."
Geac arranges private financing 01-Jun-2001 "Software company Geac Computer Corp. Ltd. has arranged a private financing of $20-million that will be used to pay down debt. The private placement, led by CIBC World Markets, involves the issue of 10 million units at $2 each."
Geac postpones annual meeting; move seen as preparation for proxy battle 24-Aug-2001 "Geac Computer Corp. Ltd. has postponed its annual meeting, a move that investment industry sources say is intended to buy the software firm extra time to prepare for a looming proxy battle by former executives."
Geac #1 global stock 01-Oct-2001 Geac ranked #1 stock in world by WSJ.
2002 - 2004: Turnaround through New Strategy and New Management
GEAC Acquires Extensity In E-Business Deal 27-Aug-2002 "GEAC Computer Corp. said it has agreed to acquire Extensity Inc. for $46.2 million in a deal that combines two companies that provide applications to help companies manage their employees and finances."
Software makers Geac, Comshare to merge CNET 23-Jun-2003 "Business applications maker Geac has agreed to acquire software company Comshare for $52 million in cash, the companies said Monday."
Geac acquires Comshare 24-Jun-2003 "The Geac Computer Corporation, a Canadian maker of business software, said yesterday that it had agreed to buy Comshare for $52 million in cash to expand its line of financial forecasting products."
Geac chairman named CEO 18-Jul-2003 "Geac Computer Corp. Ltd., specializing in business performance software management, has announced that Charles Jones, who has been executive chairman of the board since December 2000, has been appointed president and CEO of the company."
Geac Completes Acquisition of Comshare Geac 15-Aug-2003 "We're pleased this merger has gone so smoothly,” said Charles S. Jones, president and chief executive officer of Geac. “Clearly it is an opportunity to build shareholder value by positioning Geac in a potentially growth segment of the software industry. Planning, budgeting, forecasting and financial consolidation are key components of our overall Business Performance Management strategy. The successful completion of this conservatively priced acquisition marks another tangible milestone in Geac’s growth strategy, but, more importantly, it extends our suite of high-performance applications creating significant value for our customers around the world.”
Geac unveils growth plan 11-Sep-2003 "Geac Computer Corp. Ltd. outlined its growth strategy yesterday, a plan that will see the business software company chasing market share in the competitive forecasting and analysis sector."
Geac Appoints Donna de Winter CFO Effective November 4th Press Release 15-Oct-2003 Geac (TSX: GAC), a global enterprise software company for Business Performance Management, today announced that its Board of Directors has appointed Donna de Winter, previously Vice President and corporate controller of Geac, as chief financial officer effective November 4, 2003. She will report directly to president and CEO, Charles Jones.
GEAC to List on NASDAQ National Market Press Release 02-Feb-2004 Geac Computer Corporation Limited (TSX: GAC - News) today announced it has been granted a listing on the NASDAQ National Market and will trade under the ticker symbol "GEAC." NASDAQ trading is expected to commence on Tuesday, February 3, 2004.
All Systems Go for Undervalued Stock 22-Jun-2004 Research report by Richard Tse of Merrill Lynch. BUY Rating.
2005 - 2006: Strategic Assessment and Sale of Business for $1 billion
Currently Stable, Longer Term Growth 11-May-2005 "We have just spent the last two days at Geac Computer Corporation's annual user conference, for its enterprise customers. The event represents an opportunity for Geac's customers to learn about the current status of the applications they use, the company's plans for future product development and to hear customer case studies of different product implementations and the benefits they provide." RATING: BUY
Stealth Success 12-Jul-2005 Article by Jim Bodor. "With more than $440 million in annual sales, the software maker's revenue is on par with such better known companies as drug-maker Sepracor Inc. of Marlboro and retailer J. Jill Group of Quincy. But most people have never heard of Geac, even though the business is more than 30 years old and has more than 18,000 customers.
Geac obtains new $150 million revolving credit facility from banking syndicate led by Bank of America. Press Release 11-Aug-2005 Geac Computer Corporation Limited (TSX: GAC and NASDAQ: GEAC), a global enterprise software company that addresses the needs of CFOs, today announced a new five- year, $150 million revolving credit facility in favor of itself and certain of its subsidiaries with a banking syndicate led by Bank of America, N.A.
Crescendo Falls Flat in Scattershot board bid 23-Aug-2005 Article by Andrew Willis. "Geac is shaping up to be a case study in activists who end up with egg on their faces. The bigger lesson here is there may be too much activist money chasing too few opportunities."
Research Update 23-Aug-2005 Research report by Tom Liston regarding Crescendo. "We believe that Geac’s current management and board have done a good job building shareholder value - the primary evidence being a 134% increase in the stock price since August 2003, when the majority of the new management team joined the company."
Geac exploring its options in wake of shareholder tiff 14-Sep-2005 Article by Tara Perkins. "After weathering attacks from a dissident stockholder, Geac Computer Corp. is exploring outsourcing and a possible sale of the software company while hunting for acquisitions, chief executive officer Charles Jones told the company's annual meeting yesterday."
Sells Interealty Business Unit : "Best Cash Solution" 03-Oct-2005 Geac announced that it has sold its Interealty division to First American for US$35 mln. cash. This is consistent with Geac's strategy of monetizing its non-core Industry Specific Application (ISA) products and concentrating resources on its core Enterprise Application Systems (EAS).
Research Update 07-Nov-2005 Research report by Tom Liston regarding the acquisition by Golden Gate. "Golden Gate Capital to acquire Geac – US$11.10 purchase price fair; Better offer unlikely"
Canada: Investment Firm to Buy Software Maker 08-Nov-2005 Scroll to bottom to see article
Geac Computer to Be Acquired By Golden Gate For $1 Billion 08-Nov-2005 Software developer Geac Computer Inc. agreed to be acquired by U.S. private-equity firm Golden Gate Capital for about $1 billion, or $11.10 a share.
Lead a double life for Geac's sake 21-Jan-2006 Article by Simon Avery. "Last year, the board of Geac Computer Corp. Ltd. gave its president and chief executive officer, Charles Jones, a secret assignment — test the waters for a sale of a company that no business had wanted to touch just four years earlier."