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Quorum Information Technologies Inc. closes $9.2 million bought deal private placement

Eugene Chen
February 28, 2020

Eugene Chen, Darren Fach and Breton Gaunt assisted the Calgary-based, TSXV listed, Quorum Information Technologies Inc. (“Quorum”) in securing $9,200,000 in financing through the issuance of common shares in a bought deal private placement offering to a syndicate of underwriters.

The proceeds of the offering will help Quorum to finance growth initiatives, provide working capital, and open the door to potential acquisition opportunities. 

Quorum is a leading provider of dealership and customer management software and value-added services to the automotive industry. They are focused on developing, marketing, implementing and supporting its portfolio of software and services for automotive dealerships that includes:

  • XSELLERATORTM, a Dealership Management System (DMS) that automates, integrates and streamlines key processes across departments in a dealership, and emphasizes revenue generation and customer satisfaction.
  • DealerMine, a sales and service Customer Relationship Management system and set of Business Development Center services that drive revenues into the critical sales and service departments in a dealership.
  • Autovance, a sales desking and F&I menu solution that increases sales department gross margins and improves customer satisfaction for dealerships.
  • Advantage, a full showroom system for both franchised and independent dealerships and a comprehensive operating system that includes accounting for the independent market.

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