LAVAL, QUE – 20-20 Technologies Inc. announced the acquisition of Icovia, provider of interactive, online space planning solutions for the home furnishings, real estate and interior design industry.
The integration of the two technologies from each company has already yielded Icovia 3D, an interactive 3-D space-planning tool. Icovia 3D will premier at the Las Vegas Market.
In other 20-20 news, the company announced a revenues growth of 11.9% for the fiscal 2007 year, ended October 31, 2007. Operating income decreased by 19.5% to $5.1 million or 7.5% of total revenues for fiscal 2007, compared to $6.3 million or 10.4% of total revenues for fiscal 2006. Due to a drop in the value of the U.S. dollar as compared to the Canadian dollar, the company reported an exchange loss of approximately $1.5 million, compared to a gain of $191,000 in 2006.
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