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CALGARY, April 22, 2020 /CNW/ - Sylogist Ltd. (TSXV:SYZ) ("Sylogist" or the "Company") is pleased to announce the acquisition of Information Strategies, Inc. ("InfoStrat") for cash consideration of $3.5M(CDN), subject to working capital adjustments. The transaction closed on April 21, 2020.

InfoStrat, based in Washington DC, is a long established, profitable business catering to federal and state government and not-for-profit/NGO organizations throughout the United States.  InfoStrat, a Microsoft Gold partner, provides software solutions and professional services based on its proprietary intellectual property that uses Microsoft Dynamics 365 CRM and Sharepoint at its core. InfoStrat is highly regarded for its enterprise level case management, grantor money management and justice solutions.  Over the years, InfoStrat has developed a deep marketing relationship with Microsoft that will be broadened as part of the Sylogist organization.  In 2019, InfoStrat generated $5.5M(CDN) in revenue and is on track to grow in fiscal 2020.

InfoStrat is an excellent fit with Sylogist's public sector and not-for-profit/NGO customer base and technology platform.  Both businesses use Microsoft Dynamics 365 at the foundational level, delivering complementary solutions, often to the same customer target market.   The combination of the two businesses under the Sylogist operating model provides ample opportunity for growth and value creation.

We are pleased to welcome Jim Townsend, CEO of InfoStrat, and his experienced team to Sylogist.  InfoStrat will be integrated into the Sylogist operations with a goal to market, implement and support our ERP and CRM based solutions for public sector and not-for-profit customers in the United States and Canada.

About Sylogist

Sylogist is a software company that, through strategic acquisitions, investments and operations management, provides comprehensive, mission-critical ERP solutions, including fund accounting, grant management and payroll, to public service organizations.  Sylogist's public service customers include local governments, non-profit organizations, non-governmental organizations, educational institutions and government agencies, as well as public compliance driven and funded entities. Our Company delivers highly scalable, multi-language, multi-currency software solutions, which serve the needs of an international clientele.

Full financial statements together with Management's Discussion and Analysis are available on SEDAR at www.sedar.com.

The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.

Forward-looking Statements

Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. Forward-looking information in this news release includes statements with respect to InfoStrat's revenue being on track to grow in fiscal 2020 and the combination of the businesses of Sylogist and InfoStrat, under the Sylogist operating model, providing ample opportunity for growth and value creation.  By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Additional information regarding some of these risks, uncertainties and other factors may be found under in the management's discussion and analysis for the year ended September 30, 2019, and other documents available on the Company's profile at www.sedar.com.  Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include Sylogist's inability to integrate InfoStrat into its operating model and to grow the business.  Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Certain information set out herein may be considered as "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Sylogist's reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

- Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release-

SOURCE Sylogist Ltd.

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