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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  WSP Global Inc.    WSP   CA92938W2022

WSP GLOBAL INC.

(WSP)
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WSP Global : & Altus Group announce the launch of GeoVerra, a leading geomatics firm in Western Canada and Ontario

06/29/2020 | 07:41am EST

MONTREAL and TORONTO , June 29, 2020 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) (“WSP”), one of the world's leading professional services firms and Altus Group Limited (TSX: AIF) (“Altus Group”), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, announced today that the previously announced transaction to combine their respective geomatics business units has closed.  The combined entity launched as GeoVerra Inc., forming a leading Canadian geomatics firm with offices in Western Canada and Ontario.

With offices in 29 cities and towns across Western Canada and Ontario, GeoVerra is well equipped to serve its clients by offering a broad variety of geomatics services.  Through the combination, GeoVerra has the expertise and scope to take on large, complex projects, while remaining agile to be competitive at the local level for smaller projects. 

GeoVerra will be led by John Nielsen as Chief Executive Officer, who served as Vice President, Operations, Infrastructure, at WSP Canada, and Mitch Ettinger as Chief Operating Officer, who was President of Altus Group’s Geomatics business unit.

“After months of hard work, we’re very excited to officially launch GeoVerra to provide our industry-leading geomatics solutions and services to new and existing partners across Canada,” commented John Nielsen.  “We have brought together a world-class team in the areas of land surveying, mapping, forestry, and geospatial technology across diverse industries.  Our mission is to provide outstanding service that employees are proud of, that our clients will recommend to others, and that leave a positive impact on the communities that we serve.”

ABOUT GEOVERRA
Founded in 2020, GeoVerra is one of Canada’s largest geomatics firms with offices across Western Canada and Ontario providing land surveying, forestry, and geospatial solutions to clients in diverse industries. As a team, we are committed to exceeding expectations with our service-backed reputation for responsive, efficient, solutions-based performance. For more information, please visit www.geoverra.com.

ABOUT ALTUS GROUP LIMITED
Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,250 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants.

ABOUT WSP
As one of the world’s leading professional services firms, WSP provides engineering and design services to clients in the Transportation & Infrastructure, Property & Buildings, Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services. WSP's global experts include engineers, advisors, technicians, scientists, architects, planners, environmental specialists and surveyors, in addition to other design, program and construction management professionals. Our talented people are well positioned to deliver successful and sustainable projects, wherever clients need us. wsp.com.

FORWARD-LOOKING STATEMENTS
Certain information regarding WSP and Altus Group contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, as well as the fact that closing of the transaction is conditioned on certain events occurring, including finalization of definitive documentation. Although WSP and Altus Group believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP's and Altus Group’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP's and Altus Group’s actual or projected results are included in their Management’s Discussion and Analysis for the quarter ended March 31, 2020, which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and neither WSP, nor Altus Group assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws. 

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Claire Masikewich
Director, Marketing and Communications
GeoVerra Inc.
Tel : (403) 862-3348
claire.masikewich@geoverra.com

Alain Michaud
Chief Financial Officer
WSP Global Inc.
Tel : 438-843-7317
alain.michaud@wsp.com 

Camilla Bartosiewicz
Vice President, Investor Relations
Altus Group Limited
Tel: 416-641-9773
camilla.bartosiewicz@altusgroup.com


20170508-wsp_4C_175.jpg

Source: Groupe WSP Global Inc.

2020 GlobeNewswire, Inc., source Press Releases

Stocks mentioned in the article
ChangeLast1st jan.
ALTUS GROUP LIMITED 2.35% 49.99 Delayed Quote.28.66%
WSP GLOBAL INC. 0.86% 95.64 Delayed Quote.6.94%
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Financials
Sales 2020 6 930 M 5 333 M 5 333 M
Net income 2020 289 M 222 M 222 M
Net Debt 2020 276 M 212 M 212 M
P/E ratio 2020 37,1x
Yield 2020 1,57%
Capitalization 10 764 M 8 292 M 8 283 M
EV / Sales 2020 1,59x
EV / Sales 2021 1,59x
Nbr of Employees 47 100
Free-Float 99,4%
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 99,15 CAD
Last Close Price 95,64 CAD
Spread / Highest target 9,79%
Spread / Average Target 3,67%
Spread / Lowest Target -5,90%
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Managers
NameTitle
Alexandre J. L'Heureux President, CEO & Non-Independent Director
Christopher Cole Non-Executive Chairman
Paul Kenneth Edward Dollin Chief Operating Officer
Alain Michaud Chief Financial Officer
Gino Poulin Chief Information Officer
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