ACCUSTAFF REACHES AGREEMENT TO ACQUIRE INFORMATION TECHNOLOGY COMPANY AND METHODOLOGY AND SOFTWARE FOR YEAR 2000 SOLUTION; ONE OF MANY ACQUISITIONS IN THE PIPELINE.JACKSONVILLE, Fla.--(BUSINESS WIRE)--June 17, 1996--AccuStaff Incorporated (Nasdaq/NM:ASTF ASTF Arab Science and Technology Foundation (United Arab Emirates) ASTF Aeropropulsion Systems Test Facility ASTF Aerospace Structures Test Facility ASTF Australian Standard Transfer Form ASTF A Suit That Fits ), a national provider of strategic staffing and outsourcing services, today announced that it has reached an agreement to acquire 100% of the stock of Openware Technologies, Inc. Openware provides strategic information technology solutions, including consulting and staffing services and software development tools to more than 150 customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Europe and south Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Terms of the agreement were not disclosed. Headquartered in Jacksonville, Florida, Openware supports and is a provider of services and software for customers migrating from mainframe to client server and open systems (UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). , Windows NT, etc.). Customized software, methodology and project staffing are available for other platforms as well. Tim Payne, current president, will continue with Openware and report to AccuStaff's Information Technology Group. Revenues are estimated to be in excess of $6.5 million for the year ending December 31, 1996. "Openware has developed software and a methodology for the Year 2000/Millennium conversion. Customers have underestimated the costs and resources required to meet this challenge which can easily run into multiple millions of dollars per customer," said Tim Payne. Some of Openware's customers include Chanel, Toys R' Us and United Healthcare, and the company has strategic alliances with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Hewlett Packard, Digital Equipment and Oracle. Derek E. Dewan de·wan n. Any of various government officials in India, especially a regional prime minister. [Hindi d , President and Chief Executive Officer of AccuStaff, said, "We are excited about the acquisition of Openware. It demonstrates our continued focus on the information technology sector of our Professional Services division. We now have a network of 24 information technology service offices and a national staffing center as well. This makes us a comprehensive information technology services provider for our growing customer base. We expect to roll out the millennium solution and increased client server solution capabilities to our offices immediately. This acquisition, together with recently completed acquisitions and those we expect to complete in the future, should have a positive effect on earnings per share." AccuStaff is a leading national provider of strategic staffing and outsourcing services to businesses, professional and service organizations and governmental agencies. After giving effect to this and other recent acquisitions, the Company will operate 162 branch offices in 27 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . AccuStaff is organized into three divisions: the Commercial division, the Professional Services division, and the Telecommunications division. CONTACT: AccuStaff, Inc., Jacksonville Michael D. Abney or Derek E. Dewan, 904/725-5574 |
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