Geac Computer Corp. Ltd. last month sold its Publishing Systems business to Media Command Inc. for approximately $975,500 ($1.5 million Canadian).

The sale includes Geac Publishing Systems’ operations in North America, based in Tampa, Fla., in Europe, based in Nottingham, United Kingdom, and in the Asia-Pacific region, based in Melbourne, Australia. The transaction excludes real estate assets.

The Publishing Systems business accounted for less than 3 percent of Geac Computer Corp.’s revenue during fiscal year 2001, according to the Toronto-based company.

“The divestiture is part of our strategy to be more focused on fewer businesses that contribute positively to results,” said John Caldwell, Geac’s president and chief executive officer.

Media Command is owned by a consortium led by venture capitalist Robert Banner.

All employees are being invited to become shareholders along with the buyout group.

The board of directors of Media Command consists of Banner, who is chairman and chief financial officer, Bernard Grinberg, president and chief operating officer of Asia-Pacific, and Phil Lowe, CEO and COO of North America and Europe.

Banner has a long track record of active investment in the IT industry. Grinberg and Lowe were heads of Cybergraphic and Matrix, respectively, before Geac acquired their businesses.

Media Command expects to build on the global market presence established by the businesses of Collier-Jackson, Cybergraphic and Matrix. It will continue to support the product lines inherited from those companies, as well as continuing to develop and deploy cross-media publishing solutions.