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Acquisition of Key Distributor

DEC. 2004 - CaseWare IDEA Inc. announces the acquisition of the majority of shares of Audicon B.V., shortly to be renamed CaseWare IDEA B.V.

CaseWare IDEA B.V. will continue to be based in Almere, The Netherlands, with a Sales Office in Brussels and another to be opened in France in early 2005. The company has acted as the exclusive distributor of CaseWare IDEA products in The Netherlands, Belgium and Luxemburg for the last 8 years and was recently awarded distribution rights in France, Romania, Albania and Croatia.

"We wanted a greater presence in Europe to be better positioned to provide sales and technical support for clients not currently served by in-country distributors", said Bob Cuthbertson, COO, CaseWare IDEA Inc. and CEO, CaseWare IDEA B.V. "The CaseWare IDEA B.V. team has clearly demonstrated the qualities to make this happen and we share a common vision of strategies, ethics and client service standards."

Pieter Nienhuis, former managing director of Audicon B.V. and now COO of CaseWare IDEA B.V. said, "We are pleased to have this show of support from CaseWare IDEA Inc. Sales and support of IDEA have been the core of our business since we began; the investment by CaseWare IDEA Inc. gives us the stability and resources we need to expand our operations."

CaseWare IDEA B.V. will also benefit from access to the parent company’s administrative and marketing resources, eliminating redundant costs and freeing the team to devote full resources to IDEA sales, support and training activities.

Press Contact

Joyce Fisher
Manager, Marketing and Communications
CaseWare IDEA Inc.
416 867-9504, ext. 192

About CaseWare IDEA Inc.
CaseWare IDEA Inc. is a privately held software development and marketing company, with offices in Toronto and Ottawa, Canada and distributor partners around the world. The company is the developer of IDEA – Data Analysis Software used in 12 languages in 60 countries by major accounting firms, federal, state, provincial and local government, corporations in all industry sectors and by universities as a teaching tool. The power and functionality of IDEA have attracted users who are financial and internal auditors, forensic accountants and fraud investigators, financial managers, statisticians and information systems professionals.

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