TORONTO, Jan. 13, 2005 (PRIMEZONE) -- Thinkpath Inc., (OTCBB:THTHF) a global provider of technological solutions and services in engineering knowledge management, today announced the acquisition of TBM Technologies Inc. (TBM). The TBM acquisition adds significant strategic technology capabilities to Thinkpath's suite of engineering services.
TBM, a Toronto based six-year-old, six-person company, is led by veteran engineering professionals Brian Shipston and Tom Goodfellow. Shipston and Goodfellow bring a combined 30 years of technical, managerial and training role experience in the engineering technology arena to the company. They join the ThinkPath management team as Senior Design Managers.
"We are ecstatic about the addition of the TBM team," said Alan McKim, ThinkPath Vice President of Engineering. "They bring extensive design knowledge (in CATIA, Solidworks, Unigraphics and IDEAS) that combined with Thinkpath's existing design capabilities and expertise in finite element and stress analysis, broadens our scope of client solutions."
"The addition of TBM to the Thinkpath team is synergistic," stated Declan French, President and CEO of Thinkpath Inc. "With our growing sales force and renewed marketing efforts TBM's solid technical experience aligns with our strategy. The acquisition expands our client offering and achieves $500,000 Cdn in revenue. Both contributions play an important role in achieving our goal of earning $18 million Cdn in sales this year."
About TBM Technologies Inc.
TBM Technologies provides engineering design and drafting expertise to companies requiring a quality product delivered on schedule. The TBM technologies team of experienced software specialists offers a wide range of CAD services including product design/ development, software methodology development, data translation and training. TBM has a wealth of design experience.
About Thinkpath Inc.
Thinkpath is a global provider of engineering solutions. The company's engineering and design services cover every facet of the project from concept to SLA prototyping to complete turnkey packages that deliver a finished, operating system. ThinkPath engineers handle the drafting, detailing and parametric modeling. They work in diverse engineering disciplines including aeronautical, civil, electrical, environmental, mechanical and structural engineering.
ThinkPath offers a variety of design solutions including: project management, engineering processes consulting, conceptual design, system simulation, complete detailing, including GD&T, reverse engineering, manufacturing consulting, product design, build capabilities, CMM/configuration management support, DOD training support, technical staffing, document management system & service, all CAD platforms and software support, ISO process driven and FEA.
For more information, visit: www.thinkpath.com.
For More Information and Investor Relations
Please Contact: Thinkpath Inc. Tel: (905) 460-3040 Email: communications@thinkpath.com
Forward-Looking Statement
This press release contains forward-looking statements regarding Thinkpath Inc., its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Thinkpath's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by Thinkpath in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Thinkpath's business.