Ottawa Citizen

Workstream demands $5M

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Workstream, a struggling former Ottawa human resource software management company, is demanding a $5-million payment from a potential Florida buyer after cancelling the four-month-old deal. Workstream did not disclose why the deal with Empagio, a Florida payroll services company, failed to close. Shareholde­rs of Workstream, which has continued to cut staff in Ottawa and other locations, would have owned 25 per cent of a combined company with a market capitaliza­tion that has plunged to about $50 million with delays in closing the transactio­n.

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