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World Employment Services Leader Chooses Cytiva Software’s Recruiting Solution
VANCOUVER, BC – February 28, 2006 - Cytiva Software Inc. (CRX: TSX:V), a leading provider of recruiting software solutions, announced today that the Company has signed a major contract with one of the largest employment services companies in the world. The contract is valued at over $350,000 USD and will be recognized over 2 years and an additional revenue opportunity with this client is expected this year. The client, a multi-billion dollar industry leader, selected Cytiva’s SonicRecruit solution to assist in recruiting efforts for their North American, Indian and Netherlands operations.
“We are extremely pleased to have been selected by this client. Large industry leaders are very familiar with all the solutions in the market and for SonicRecruit to be chosen is a testament to the quality of our software and services,” said Jason Moreau, President of Cytiva Software. “This new contract will not only add another brand name to our impressive roster of clients but will further strengthen our extremely solid cash position as we collect all our annual contract fees upfront.”
SonicRecruit will replace a competitive system within the organization.
ABOUT CYTIVA SOFTWARE INC.
Cytiva Software Inc. (CRX:TSX.V) provides innovative on-demand talent management software and services to mid-sized and Fortune 500 companies. Its flagship talent acquisition product, SonicRecruit, allows corporations to screen applicants, automate recruiting departments, customize corporate career sites and hire great people. This premier applicant tracking system improves recruiting effectiveness, speeding up the hiring process and reducing cost per hire. For more information, visit www.sonicrecruit.com.
CONTACT:
Ian Alexander
mediarelations@sonicrecruit.com
510-984-1986
The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of Cytiva. These statements are based on current expectations and estimates about the human resources markets in which Cytiva operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. Some of these factors are largely beyond the control of Cytiva. Should any factor impact Cytiva in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by Cytiva will be realized or, even if substantially realized, that they will have the expected consequences for Cytiva. Readers should not place undue reliance on any forward-looking statements. Further, Cytiva disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.
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