Acsys, Inc. Acquires Staffing Edge, Inc.; Expands Acsys Operations to 10 Key Markets.ATLANTA--(BUSINESS WIRE)--Aug. 4, 1998--Acsys, Inc. (Nasdaq/NM:ACSY), a leading provider of specialty professional staffing services, today announced that it has acquired Staffing Edge, Inc., a leading specialty professional staffing firm headquartered in Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, , with an annual revenue run rate of approximately $33 million. The transaction is expected to be accretive to earnings. Terms of the transaction were not disclosed. Founded in 1992, Staffing Edge specializes in the temporary and permanent placement of professionals in the fields of accounting and finance, information technology (IT), legal, engineering and high-end office/clerical and training. Staffing Edge currently operates staffing offices and computer training offices in 10 metropolitan markets, including Dallas/Fort Worth; Des Moines Des Moines, city, United States Des Moines (dĭ moin`), city (1990 pop. 193,187), state capital and seat of Polk co., S central Iowa, at the junction of the Des Moines and Raccoon rivers; inc. ; Chicago; Denver; Houston; Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). ; Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. ; San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. ; and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . Ed James Ed James (born Edward Stirk on 23 March 1976) is a radio DJ for 100.7 Heart FM, and currently hosts the breakfast show with Sarah Jane Mee on weekdays and Hellon Wheels on Sundays. , 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 Staffing Edge, will lead the Staffing Edge operations for Acsys and brings more than 12 years of experience to the Acsys management team. Timothy Mann, Jr., chief executive officer of Acsys, said, "This is a highly strategic transaction for Acsys, giving us core specialty professional staffing operations in 10 key metropolitan markets that were expansion targets for us either through acquisition or 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 openings. Staffing Edge represents a unique merger partner in that it offers substantial scale in our core specialty professional staffing segment with no geographic overlap. In six years, Staffing Edge has established a significant market presence in each of its cities and particular strength in the Dallas/Fort Worth and Kansas City areas. We believe these markets offer tremendous potential for the expansion of our specialty professional staffing services. "Including Staffing Edge, we will have added approximately $60 million to our annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue run rate this year through acquisitions, double our initial goal, and we will have accomplished the expansion of our business throughout the U.S. far ahead of schedule. We share similar operating philosophies and look forward to the successful integration of Staffing Edge into our operations and the addition of the fine team of Staffing Edge professionals to our business." Staffing Edge founder and chief executive officer, Ron Smith, is leaving the staffing industry and will not remain with the company. "Ron has been one of the pivotal players in the success and growth of Staffing Edge," added Mann. "We intend to capitalize on the foundation he has helped build and wish him well as he moves on to other opportunities." Acsys, Inc. is one of the leading specialty professional staffing and permanent placement firms in the U.S. Headquartered in Atlanta, Acsys has a national presence with offices serving the Atlanta; Charlotte; Chicago; Dallas/Fort Worth; Denver; Des Moines, Iowa; Houston; Kansas City; New Jersey; 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. ; Orlando; Philadelphia; Phoenix, Arizona; Richmond, Virginia; San Antonio, Texas; San Francisco; Tampa; and Washington, D.C. 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, 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, ext. 3320
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