CSI Computer Specialists Inc. announces agreement to purchase Capitol Computer Services Inc. / T/A CCS Systems Inc.ROCKVILLE, Md.--(BUSINESS WIRE)--Dec. 13, 1995--CSI Computer Specialists Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CSISW;CSIS Noun 1. CSIS - Canada's main foreign intelligence agency that gathers and analyzes information to provide security intelligence for the Canadian government Canadian Security Intelligence Service ) announced that the company has entered into a letter of intent to acquire Capitol Computer Services Inc. / T/A T/A Turnaround T/A Traffic Analysis T/A Time/Attendance T/A Trading As T/A Trans America T/A Tonsils/Adenoids T/A Training/Allowance T/A Traction/Advantage (BF Goodrich) T/A Team Assistance T/A Table of Allowance CCS (1) (Common Channel Signaling) A communications system in which one channel is used for signaling and different channels are used for voice/data transmission. Signaling System 7 (SS7) is a CCS system, also known as CCS7. See SS7. Systems Inc. CSI officials indicated that the proposed terms were confidential pending the completion of definitive agreements. CSI Computer Specialists Inc. is in the business of providing a wide range of computer hardware services, including installation and deinstallation of equipment, computer upgrades, maintenance and repair and sales of parts and equipment. The company provides its services to agencies of the federal government, state and local governments, universities and commercial customers in the Mid-Atlantic region of the United States. Capitol Computer Services Inc. / T/A CCS Systems Inc. based in Landover, Md. is a value added retailer value added retailer - value added reseller specializing in equipment sales and computer hardware maintenance. Capitol Computer Services Inc./ T/A CCS Systems Inc. had revenues of approximately $3.7 million for fiscal year ending Sept. 30, 1995. Although consummation and closing of the proposed acquisition is expected in December 1995, the acquisition is subject to the board of directors approval of both companies, to execution of a definitive acquisition agreement and fulfillment of certain pre-closing conditions. Donald C. Weymer, CSI's chairman and chief executive officer, stated that "CCS's operations complement CSI's with increasing opportunities for economies of scale that will enhance the future profitability of the combined companies." CONTACT: CSI Computer Specialists Inc. Donald C. Weymer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , 301/921-8860 |
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