Acquisition of Municipal Software Corp Approved by Shareholders
TRANS ASIA RESOURCES INC ("TGU-V") - Acquistion of Municipal Software Corp Approved by Shareholders
Trans Asia Resources Inc. (the "Company") is pleased to announce that shareholders approved the proposed acquistion of Municipal Software Corporation at its extraordinary meeting of shareholders held yesterday. Shareholders at the meeting also approved a proposed change of name of the Company to "Municipal Solutions Group, Inc." to reflect the acquisition. The transaction still remains subject to CDNX final approval before it can be effected.
The Company has been pleased that, during the months leading up to the recent shareholder approval, Municipal's sales revenue has been increasing and their products have been enjoying continuing success in the marketplace.
Municipal announced that its latest customer, the County of Kane, IL has purchased its CityView local government business process automation software in preference to two other established competitors. The initial value of the contract is approximately $500,000. Kane County is located near the city of Chicago and has a population of approximately 320,000. Municipal's integrated system will enable the County to automate a wide range of functions, including building permits, zoning and subdivisions, transportation permits, well and septic permits, restaurant licensing and complaint tracking systems and the ability to share information on a county-wide basis.
About Municipal Software Corporation
Municipal Software Corporation is a provider of fully integrated suite of software products that assist municipal administrators and managers with scalable technology solutions for increasing municipal government productivity in order to service citizens and communities more efficiently and effectively. CityView provides forms automation software combining forms and reports with mapping, Web enablement, and database management, and is used to automate any local government process. CityView Xpress is designed specifically for out-of-the-box departmental management and comes complete with ready-to-use forms and reports for a variety of municipal functions.
Robert Foo, President TEL: (604) 214-8368
Trans Asia Resources Inc. FAX: (604) 214-8636
