CIBER Announces Merger With Step Consulting Inc.ENGLEWOOD, Colo.--(BUSINESS WIRE)--April 30, 1998--CIBER, Inc. ("CIBER") (NYSE NYSE See: New York Stock Exchange - CBR) announced today that privately-held STEP Consulting, Inc., ("STEP") a provider of custom application development solutions headquartered in Greensboro, N.C., has merged into CIBER. "We are excited that this merger allows us the opportunity to combine STEP with Spectrum Technology Group, Inc., our existing value-added custom solutions practice," stated Larry Greenwood, EVP and 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. for CIBER's Solutions Division. STEP will add breadth to our Spectrum activities in the Carolina region and will strengthen our relationship with Microsoft as a Solution Provider Partner. "CIBER is also very pleased that Mark MacDonald will remain and manage the combined Greensboro operation as Branch Manager and Rich Gabrielli will remain as Project Manager," Mr. Greenwood continued. STEP employs approximately 40 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 $5 million. The combination will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . CIBER, Inc. is a nationwide provider of information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. services. Through our 4,750 employees operating out of over 70 offices in over 20 states, plus our foreign operations, CIBER offers services to our clients in four principal areas: management consulting for "business/IT" problems, ERS ERS, n.pr See extended rotated side-bent. implementation services, information technology consulting services (including Year 2000 conversions) and network design and integration consulting. CIBER's three wholly owned operating subsidiaries are Spectrum Technology Group, Inc., Business Information Technology, Inc. and CIBER Network Services, Inc. "Safe Harbor" 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. CIBER, Inc., 5251 DTC Parkway, Suite 1400, Englewood, CO 80111 http://www.ciber.com CONTACT: CIBER Inc., Englewood Kara Kennedy, 303/220-0100 |
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