WellPoint Systems Inc. ("WellPoint" or the "Company") (TSX-V:WPS) is pleased to announce that it has completed its acquisition of IDEAS International, Inc. ("IDEAS"). IDEAS is the leading provider of sophisticated international financial management software and professional services to the oil and gas industry. IDEAS' clients include 60% of the largest US oil and gas companies as well as many other oil and gas companies with international operations. IDEAS has an installed base of more than 39,000 licensed seats in more than 300 client sites in more than 50 countries. IDEAS' software licensing revenue grew in excess of 60% in 2005 as compared to 2004, with similar growth anticipated in 2006. IDEAS has international offices in Moscow, Tunis, Bogotá and Jakarta.

 

About WellPoint Systems Inc.

WellPoint Systems provides premier software and related services for managing critical operations within the energy industry. Aligning tightly with Microsoft Corporation, WellPoint is the only Independent Software Vendor (ISV) and Microsoft Dynamics partner in the energy sector. It is breaking new ground with the creation of a more comprehensive, integrated energy software suite based on existing Microsoft ERP technology that utilizes state-of-the-art Dynamics AX® and .NET architectures. WellPoint became a Microsoft Gold Certified Partner in 2005.

Founded in 1997, Calgary based WellPoint Systems also has operations in Houston, Texas through its subsidiary company, WellPoint Systems, Inc.

 

WellPoint is publicly traded on the TSX Venture Exchange under the symbol WPS.