Acsys, Inc. Acquires KPD Systems, Inc.; Will Become Part of Acsys's New York City Presence.ATLANTA--(BUSINESS WIRE)--July 1, 1998--Acsys, Inc. (Nasdaq/NM:ACSY), a leading provider of specialty professional staffing services primarily in the accounting, finance and information technology fields, today announced that it has acquired KPD KPD Knoxville Police Department KPD Kommunistiche Partei Deutschlands (Communist Party of Germany) KPD Kokomo Police Department KPD King of Prussia, Pennsylvania (Airport Code) KPD Key Pre-Distribution Systems, Inc., a New York-based information technology staffing firm. KPD will become part of Acsys's New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. office which will be opening later this summer. KPD operates one office and had 1997 revenues of $2.7 million, based on unaudited results. The transaction is expected to be accretive to 1998 earnings. Terms of the transaction were not disclosed. Timothy Mann, Jr., chief executive officer of Acsys, said, "Opening a New York City office has been a priority for us, and the acquisition of KPD jump starts our plans. We are on schedule to open a de novo [Latin, Anew.] A second time; afresh. A trial or a hearing that is ordered by an appellate court that has reviewed the record of a hearing in a lower court and sent the matter back to the original court for a new trial, as if it had not been previously heard nor decided. office in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of in late summer and will relocate re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. KPD to our facilities. In addition to the spectrum of professional staffing services that we will provide, KPD, with its electronic messaging See e-mail and messaging system. focus, gives us another IT niche service to cross-sell to our other offices. Our NYC NYC abbr. New York City NYC New York City office will include both a temporary and permanent placement accounting and finance practice as well as an IT practice. Under the leadership of Howard Sapolsky, who founded KPD and has more than 18 years of experience in IT staffing, KPD provides excellent client and candidate bases. We will immediately begin transitioning KPD to the Acsys Information Technology brand." Acsys, Inc. is one of the leading accounting and finance temporary staffing and permanent placement firms in the U.S. The Company operates 19 offices serving the Atlanta, Charlotte, New Jersey, Philadelphia, Tampa, Orlando, Washington, D.C. and Richmond metropolitan markets. Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. , or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the Company's ability to achieve and manage growth; the Company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the Company's ability to attract and retain qualified personnel; the Company's ability to develop new services; and other factors discussed in Acsys's filings with the Securities and Exchange Commission.
CONTACT: Acsys Inc., Atlanta
Timothy Mann, Jr., 404/817-9440 x 3320
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