PBS Financial Systems Acquires Megawheels Drive DMS Division
CALGARY, ALBERTA – May XX, 2005 –Megawheels Technologies Inc. (TSX Venture: MWT) announced today the sale of their Toronto based Drive DMS division to PBS Financial Systems Inc. As a result of this purchase PBS will become the largest Canadian vendor of Dealer Management Systems.
“We are very excited to acquire the Megawheels Drive DMS System and their knowledgeable staff. Megawheels have developed excellent customer relations, staff expertise and technology,” says Dave Bradley, President of PBS. “This is a turnkey Ontario operation for PBS and gives us a strong base for additional growth in the Greater Toronto Area market. We plan to grow the division, expanding into other markets with the focus being on customer retention as well as expansion, by enhancing Drive's current product suite with existing PBS relationships and partnerships.”
“The synergy between the companies develops a stronger and more competitive DMS market for PBS and gives Megawheels a capital injection to accelerate our R&D capability”, says Chris Bulger, Chairman and CEO of Megawheels.” We are enthused to be able to focus on the growth of our classified advertising media platform and broaden our newspaper customer base throughout Canada, the United States and Europe.”
About Megawheels Technologies Inc.
Megawheels is an international provider of services that connect newspapers to their advertising communities. The Company hosts turnkey solutions that combine custom-branded websites with advertising technology to increase reach and reduce traditional production costs. Competitive advantages result from advanced online searching capabilities, and from linking inventory with electronic publishing capability to produce traditional classified print advertising.
With the Megawheels Showroom application, Automotive Retailers can manage their inventory (with photos), conduct their classified advertising programs, produce point-of-sale window stickers and marketing materials, and connect with buyers through a newspaper’s on-line and in-print offering. Retailers can manage the distribution of inventory information to their website and to other advertising providers using the Megawheels media platform.
Megawheels Showsuite is the Real Estate Professional-based property inventory management system that empowers the Agent to add, amend and delete properties with images for online content as well as producing marketing literature in-house for distribution to their customers. The software links real estate agents and brokers with their media partners to offer seamless efficiencies with regard to ad submission and web content.
Megawheels’ head office is located in Calgary, Alberta, with employees in Canada and Ireland.
About PBS Financial Systems Inc.
PBS Financial Systems is a Calgary, Alberta (Canada) based company that supplies Dealership Management Systems for automotive, power sports, marine and RV dealers. With customers spread throughout 5 countries, employees in Canada and United states and systems being installed in multiple markets, PBS in now the 4th largest vendor in North America.
In Canada, PBS is the leading vendor in both the automotive and power sports industries. The PBS software is designed to link all departments of your dealership through a PC browser based solution. Depending on the size of your dealership, PBS can customize and deploy a system to fit your needs.
PBS was the first company to deploy a complete Windows based DMS system in 1995. Today, PBS is the proven market leader with more depth and experience in developing, deploying, and supporting Windows based Dealer Management Systems.
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