For immediate release: January 31, 2008
MDA enters partnership with advanced property valuation company in US
Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has entered a strategic partnership with U.S. based ValueScape LLC, an emerging leader of alternative property valuation solutions. Over the next two years, MDA will make an equity investment of several million dollars to finance the growth of the company. MDA will also have an option to acquire 100% of the equity in the future.
ValueScape offers a range of property valuation services, including its proprietary Interactive Valuation Model (IVM). These valuation services will complement MDA's existing property information and automated valuation products. IVM is unique in that it now provides appraisers with direct access to MDA's rich property data archive, and with powerful statistically validated analytical tools, will more rapidly and accurately complete appraisals required for mortgages and equity loans.
John Geddes, MDA vice president of strategic business development states, "We believe that with the current emphasis on the integrity of collateral valuation in the U.S., lenders will quickly see the benefits of this new valuation product, which combine the advantages of validated tools and techniques used in automated valuation models with the expertise of a professional appraiser to better judge each individual situation."
David Dill, CEO of ValueScape, added "We are thrilled with the upside that this partnership represents, and are looking forward to benefiting from MDA's data assets, knowledge, and support in realizing our vision to advance our appraisal capabilities to a new level of efficiency and accuracy." About MDA
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 3,000 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About ValueScape
ValueScape LLC was created by a group of dedicated individuals with more than 70 years of cumulative experience as appraisers, appraisal business owners, valuation technology experts, and industry thought leaders. With a shared vision of combining their appraisal businesses and resources to build a more efficient valuation services company, and by leveraging their proprietary technology platform, ValueScape is positioned to achieve a strong competitive advantage in the market.
ValueScape offers an integrated range of property valuation services, ranging from automated valuations to interactive desktop valuations and verifications, and ultimately to full appraisals in the field. Its national platform of valuation professionals utilizes the most advanced analytics and tools and draws on a rich information base to deliver superior quality performance and service to customers.
ValueScape has 75 employees and is headquartered in Lakewood, Colorado, with an Eastern office in Salisbury, Maryland.
Related Websites:
www.mdacorporation.com
www.valuescape.com
Forward-Looking Statements
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
For more information, please contact:
Wendy Keyzer
MDA External Relations
Telephone: 604-231-2743
E-mail: wendy@mdacorporation.com
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