Calian completes sale of U.S. commercial IT business to Trace3
OTTAWA, Ontario, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Calian Group Ltd. (TSX: CGY), a mission-critical solutions company focused on defence, space, healthcare and other strategic critical infrastructure sectors, today announced it has completed the sale of its United States (U.S.) commercial IT business based in Houston, Texas, to Trace3, a leading technology solutions provider and digital transformation consultancy headquartered in Irvine, California.
The transaction was completed on the terms previously announced on August 25, 2026, including upfront cash proceeds of approximately CAD $43 million (US $31 million) and the assumption by the purchaser of certain net liabilities totalling approximately CAD $17 million (US $12 million).
“Completing this transaction is an important milestone for Calian, allowing us to move forward with greater clarity and focus as we continue to execute on our priorities and build the next phase of Calian’s growth,” said Patrick Houston, Chief Executive Officer, Calian. “The U.S. commercial IT business has built strong customer relationships and a respected position in the market and we wish them continued success with Trace3.”
Stifel served as exclusive financial advisor to Calian in connection with the transaction, and LaBarge Weinstein served as legal advisor to Calian.
About Calian
For over 40 years, Calian has delivered mission-critical solutions when failure is not an option. Trusted worldwide, we empower organizations in critical industries to overcome obstacles, manage risks and drive progress. By combining the expertise of our people, proven industry insight, cutting-edge technology, bold innovation, and global reach, we deliver tailored solutions that solve complex challenges. Headquartered in Ottawa, Canada, with over 6,000 people around the world, Calian’s solutions protect lives, strengthen security, foster global connectivity and drive economic progress, making a lasting impact where and when it matters most.
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DISCLAIMER
Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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