Jan 2, 2017

Magnatech Announces Ownership Transition and Corporate Restructuring to Better Provide Focused Travel Management Solutions to Its Customers

Montreal, Canada – January 2, 2017 —- Magnatech announces today that it has been acquired by its key employees and a corporate restructuring took place in October 2016. The transition was necessary to facilitate the evolution of the brand and provide exemplary technical services and solutions for all its customers. The company will continue to focus on those domain areas where Magnatech has been positioned for leadership and growth, while striving to make internal processes more efficient, thus increasing profitability for all relevant stakeholders. Paul Gioia has assumed the role of President and CEO.

Paul is an industry veteran and has occupied the position of VP of Operations and head of programming at Magnatech for the last 15 years. He has played an integral part in the design and creation of all Magnatech products, as well as, the main facilitator of software support solutions. His technical expertise coupled with his experience within the company and corporate structure makes him the perfect fit for the position, capable of steering the company towards growth and profitability in an increasingly technical and mobile world.

The company announced the changes internally with an email from the new CEO and is now reaching out to customers to inform them that the transition will have no impact on current operations or pricing.

“Magnatech has demonstrated in its past strategies the ability of incredible growth, laying a solid foundation from which we can build a future. I am determined to use the opportunities in front of us to build on the strengths our team possesses and accelerate our current momentum to drive longterm changes that will make us a leader in our market. I am confident in our capabilities as a company and believe we will emerge from this transition better able to service our customers and develop our brand.”
– Paul Gioia, President & CEO