Mamma.com Inc., a metasearch engine on the Internet, recently announced that the company's Board of Directors and the board and shareholders of Copernic Technologies Inc., a provider of search and information management solutions, have approved definitive purchase agreements to acquire 100% of the issued and outstanding securities of Copernic.

The company has agreed to acquire 100% of the issued and outstanding securities of Copernic, including an amount to cover Copernic's outstanding stock appreciation rights obligations, for $15,900,000 and the issuance of 2,380,000 common shares of the company.

Copernic's Chairman, Martin Bouchard will join the company as Executive Vice-President and Chief Strategist and Technology Officer. Eric Bouchard, Copernic's Executive Vice-President, Products will join the company as Vice President of Research and Development and Albert Dang-Vu, Copernic's Vice-President, Technology will join the Company, as Vice-President of Technology.

"With this acquisition, we are now at the forefront of the search and on-line marketing industry," said Guy Faure, President and CEO, Mamma.com. "With the addition of Copernic's award winning desktop search (CDS) product, we now have a formidable portfolio to satisfy the growing need for integrated search of both web-based and desk-top based users. We intend to move quickly to realize the obvious synergies and benefits by integrating Mamma's and Copernic's web based search capabilities and extending the penetration of Copernic's award-winning desk-top search technology."

"The combined resources of the Company and Copernic will now offer a much broader demographic for our advertisers and will provide our Company with both stronger business development capabilities and world-class product development capabilities. We welcome the joining of the Mamma and Copernic teams and look forward to a dynamic and effective approach to offering a superior value proposition to advertisers and developing cutting edge technology that would provide a unique user experience in Internet search applications," added Guy Faure.