ACCUSTAFF TO ACQUIRE $106 MILLION ADDITIONAL TECHNICAL SUPPORT, INC.; LARGEST ACQUISITION TO DATE.JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jan. 15, 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 Jacksonville-based strategic staffing and outsourcing company, today announced that it has signed a definitive agreement to acquire 100% of the stock of Additional Technical Support, Inc. and affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. . The transaction is expected to close on or before March 1, 1996. Terms of the agreement were not disclosed. Headquartered in Waltham, Massachusetts One of the early centers of the Industrial Revolution in northern America, Waltham is a city in Middlesex County, Massachusetts, United States. The population was 59,226 at the 2000 census. , and founded in 1978, Additional Technical Support offers a complete spectrum of staffing services in information technology and management information systems, engineering and software engineering, and CAD/CAM CAD/CAM in full computer-aided design/computer-aided manufacturing. Integration of design and manufacturing into a system under direct control of digital computers. design. The Experts information technology division provides contract personnel for all levels of software development and computer operations support, including advisory consultants, programmers, client/server specialists, and systems operators. The Experts will become a division of Computer Professionals, Inc., under the leadership of Thomas E. Hoshko. The Engineering Personnel division offers personnel for both temporary and permanent assignments ranging from senior level design consultants and engineers to machine operators and technicians. The CAD/CAM Resources division offers totally integrated solutions to its customers' requirements -- from marketing and installation to maintenance and personnel. The Engineering and CAD/CAM divisions will continue to be headed by Robert L. Cecchini, who is currently the Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Additional Technical Support. The Additional Technical Support, Inc. group has 17 offices in eight states. Its clients include Fortune 500 corporations and other large companies such as MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. , Fidelity, EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. , 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) , GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) , AT&T and Polaroid. Its staffing services are available in all 48 contiguous states. Annual revenues were in excess of $106 million for the year ended July 31, 1995, based on audited financial information. 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, "The acquisition of Additional Technical Support will significantly expand the scope of services offered by AccuStaff and importantly extend its range of coverage from coast to coast. The unique concept brought to AccuStaff from the Additional Technical Support group includes national staffing centers that provide information technology and engineering staffing services from large dedicated service centers to client offices across the country. This is both a cost-effective and leading-edge concept to handle large orders from Fortune 1000 companies. "This acquisition, together with the recently completed acquisitions of Computer Professionals, GW Consulting, and Career Enhancement, will elevate AccuStaff to the forefront of the information technology staffing sector with over $125 million in revenue, based upon historical results. Additionally, with this acquisition, AccuStaff's engineering staffing and CAD/CAM services capabilities will now be national in scope with over $100 million in engineering services revenues. "Demand for temporary staffing and outsourcing of information technology and engineering needs is increasing nationwide, and our plan is to be at the leading edge of this trend. The purchase of Additional Technical Support, together with our other recently announced acquisitions, will help us achieve our strategic plan which includes the geographic build-out of our national network and the aggressive growth of our professional specialty staffing business. " AccuStaff is a leading provider of strategic staffing and outsourcing services to businesses, professional and service organizations, and governmental agencies. After giving effect to recently completed acquisitions and the pending acquisitions of Additional Technical Support, Inc. and affiliated companies, AccuStaff will operate 123 branch offices in 26 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, Derek E. Dewan, 904/725-5574 |
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