SYZ Sylogist Ltd

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES.


Sylogist Ltd. (TSX VENTURE:SYZ) ("Sylogist") is pleased to announce the
completion of the acquisition of the Serenic operating companies as previously
announced on June 26, 2014. Sylogist has acquired all the outstanding shares of
Serenic Canada Inc., Serenic Software, Inc. and Serenic Software (EMEA) Limited
(collectively the "SOCs"), each a wholly-owned subsidiary of Serenic Corporation
("Serenic"). The SOCs conduct virtually all of Serenic's business today and
which includes Serenic's existing proprietary enterprise application software,
all existing customer relationships, customer contracts, Microsoft and other
third party agreements as well as its tax pools. Serenic operates from principal
offices located in Lakewood (Denver), Colorado and Edmonton, Alberta with dealer
representation worldwide.


For 100% of the shares of the SOCs, Sylogist paid approximately $8.1 million
(CDN) cash consideration and assumed net working capital assets of approximately
$0.5 million (CDN) along with deferred revenue liabilities of approximately $4.2
million, subject to post-closing adjustments. Sylogist has acquired all rights
to the Serenic brand. 


"The Serenic businesses have historically generated annual revenue of $11-12
million with gross margins in the 65-70% range. The acquisition adds over 1,500
recurring revenue customers. Sylogist is retaining 36 employees in key operating
management and support roles spanning sales and marketing, customer servicing,
and enterprise product development. Serenic's strength in servicing public
sector, non-governmental (NGO) and non-profit (NFP) markets will extend
Sylogist's public sector market coverage beyond the Canadian market to a truly
international platform. The integration potential of Serenic products and
Sylogist public sector products, offered through its Bellamy Software division,
is significant. Serenic is also the primary provider, under license to Microsoft
in North America and other international markets, of payroll and human resources
software for public and private sector customers using Microsoft's largest
accounting platform, Dynamics NAV ERP. The Serenic payroll and human resources
software fits well within Sylogist's growth plans. The financial value of this
acquisition is compelling, while the strategic value provides product affinities
with other Sylogist' portfolio companies and a global growth platform. Through
the acquisition, Sylogist also acquires approximately $4M in tax pools to
enhance operating cash flow. We welcome to Sylogist the Serenic staff, customers
and dealer network who are joining us in the United States, Canada and
throughout the world," stated Jim Wilson, Sylogist's President and CEO.


About Sylogist

Sylogist is a technology innovation company which, through strategic
acquisitions, investments and operations management, provides enterprise
application software to public and private sector customers. 


The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ.
Information about Sylogist can be found on SEDAR and at http://www.sylogist.com.


Forward-looking Statements

In this document and in other documents filed with Canadian regulatory
authorities or in other communications, Sylogist may from time to time make
written or oral forward-looking statements within the meaning of applicable
securities legislation, including statements regarding Sylogist's business plans
and financial objectives. These statements typically use words such as
prospects, believe, estimate, forecast, project, expect, anticipate, plan, may,
should, could and would, or the negative of these terms, variations thereof or
similar terminology. By their very nature, forward-looking statements are based
on assumptions and involve inherent risks and uncertainties, both general and
specific in nature. It is therefore possible that the forecasts, projections and
other forward-looking statements will not be achieved or will prove inaccurate.
Although Sylogist believes that the expectations reflected in these
forward-looking statements are reasonable, it provides no assurance that these
expectations will prove to have been correct. Sylogist cautions readers against
placing undue reliance on forward-looking statements when making decisions, as
the actual results could differ considerably from the opinions, plans,
objectives, expectations, forecasts, estimates and intentions expressed in such
forward-looking statements due to various material factors. Among other things,
these factors include fiscal and economic policies, changes in interest and
foreign exchange rates, and general economic conditions, legislative and
regulatory developments, competition and access to capital. Sylogist further
cautions that the foregoing list of factors is not exhaustive. For more
information on the risks, uncertainties and assumptions that would cause
Sylogist's actual results to differ from current expectations, please also refer
to Sylogist's public filings available at www.sedar.com. Sylogist does not
undertake to update any forward-looking statements, whether oral or written,
made by itself or on its behalf, except to the extent required by securities
regulations.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sylogist Ltd.
Jim Wilson
President and CEO
(403) 266-4808
www.sylogist.com

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