CIBER Acquires Compaid Consulting Services, Inc.ENGLEWOOD, Colo.--(BUSINESS WIRE)--March 3, 1999--CIBER, Inc. ("CIBER CIBER Center for International Business Education and Research (various locations) CIBER Center for International Business and Research (Michigan State University) CIBER Cellular Inter-Carrier Billing Exchange Record ") (NYSE NYSE See: New York Stock Exchange : CBR (1) (Computer-Based Reference) Reference materials accessible by computer in order to help people do their jobs quicker. For example, this database on disk! (2) (Constant Bit Rate) A uniform transmission rate. ) announced today the acquisition of Compaid Consulting Services, Inc. ("Compaid"), a privately held provider of IT consulting services, headquartered in Atlanta, GA. "The acquisition of Compaid will strategically expand our operations in the Atlanta marketplace while doubling CIBER's presence in Charlotte, NC. In addition, Compaid's key client relationships will enhance CIBER's access to significant IT opportunities," stated Bill Storrison, CIBER's Executive Vice President. "We are also pleased to announce that Sandra Hamon, Compaid's President, will join with CIBER to drive the sales effort in the Atlanta area," continued Mr. Storrison. "I'm excited about the opportunities that will exist for our staff and the increased responsiveness to our customers that will occur by joining the CIBER organization. The common commitment to quality and customer service, coupled with our expanded client base, will enable us to become a leader in IT services in all of our respective markets," stated Ms. Hamon. Compaid employs over 100 consultants and generates 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. revenues of approximately $13 million; the combination will be accounted for using purchase accounting. CIBER, Inc. is a premier provider of system integration consulting services. Employing 6,500+ employees located in over 45 major cities in more than 20 states plus Canada, CIBER offers leveraged information technology integration solutions in five principal areas: management consulting aligning business/IT solutions (including E-Business, data warehousing and middleware integration), enterprise applications solutions (EAS/ERP) implementation and outsourcing services, enterprise integration services consulting and professional staff augmentation services. CIBER's wholly-owned subsidiaries include Spectrum Technology Group, Inc., Business Information Technology, Inc., The Summit Group, Inc., CIBER Information Services See Information Systems. , Inc. and CIBER Network Services, Inc. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Forward-looking statements involve risks and uncertainties that could cause actual results to vary materially from such statements. Please refer to discussions of certain of these risks and uncertainties in the Company's Annual Reports, 10-Ks, 10-Qs and other Securities and Exchange Commission filings. |
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