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IBI Group Announces Acquisition of GreenOwl Mobile

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TORONTO, May 18, 2018 (GLOBE NEWSWIRE) -- IBI Group (TSX:IBG), a global design and technology firm, announced today that it has completed the asset purchase of Ontario-based GreenOwl Mobile, including all intellectual property. The GreenOwl technical team will also be joining IBI Group as part of the acquisition. Founded in 2010, GreenOwl Mobile is a leader in mobile technologies for smart cities. It has developed and deployed numerous award-winning solutions for transportation authorities, cities, municipalities, and private media corporations. The closing of the asset purchase supports the ongoing integration of technology in all IBI Group practice areas, and is a key next step in achieving this important objective of the firm's new Strategic Plan.

"This acquisition supports our competitive edge in the market as a technology-driven design firm. Having worked closely with the GreenOwl Mobile team for many years, we're excited about the skillset that they bring to the table. From traveler information systems, to the internal processes required to support the development of new communities, mobile technology continues to evolve, and there are opportunities to rethink the way we are delivering our solutions across all disciplines within the firm," said Scott Stewart, IBI Group CEO.

"GreenOwl shares a similar vision to IBI Group, of using technology to solve the world's most pressing issues, like the impact that rapid urbanization will have on cities. We are ecstatic to join IBI and be part of this bigger vision. We are also glad that IBI sees the value GreenOwl will bring to their digital transformation," said Matt Man, GreenOwl Mobile Founder.

GreenOwl Mobile specializes in the design of mobile and IoT product experiences for both the public and private sectors. Its core offering supports the collection and dissemination of geo-location information. With offices in Toronto and California, the company has implemented more than 45 iOS, Android, HTML5, and Blackberry mobile apps for clients including transportation authorities, municipalities and media corporations. Its products are currently serving millions of users worldwide.

For more information on IBI Group's world-class software and systems portfolio, visit our website, or to speak with an IBI Group professional, please contact Julia Harper at Julia.harper@ibigroup.com or 647-330-4706.

Caution Regarding Forward-Looking Information
Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and its subsidiary entities, including IBI Group Partnership or the industry in which they operate, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. When used in this news release, such statements use words such as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties.

These risk factors are discussed in detail under the heading "Risk Factors" in the Company's Annual Information Form for the year ended December 31, 2018. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as at May 18, 2018. The Company updates these assumptions at each reporting period and adjusts its forward-looking information as necessary.

About IBI Group

IBI Group Inc. (TSX:IBG) is a globally integrated architecture, planning, engineering, and technology firm with over 2,700 professionals around the world. For more than 40 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. IBI Group is a lead partner of the Smart Cities Council North America. Follow us on Twitter @ibigroup and Instagram @ibi_group.

Media Contact:
Julia Harper
IBI Group
Julia.harper@ibigroup.com
1-416-596-1930 ext. 61187 or
1-647-330-4706

Investor Contact:

Stephen Taylor, CFO
IBI Group Inc.
55 St. Clair Avenue West
Toronto, ON M4V 2Y7
1-416-596-1930

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