Computer Horizons Completes Acquisition of RPM Consulting; Continues Expansion of Solutions Capabilities.MOUNTAIN LAKES, N.J.--(BUSINESS WIRE)--Aug. 5, 1998--Computer Horizons Corp. (Nasdaq: CHRZ) today announced it has completed the acquisition of RPM Consulting ("RPM"), previously announced on July 28, 1998. The aggregate consideration for the transaction is estimated to be $19 million of cash and $9 million of Computer Horizons stock with the potential for additional payments, providing RPM Consulting achieves certain milestones. The acquisition is expected to be immediately accretive. RPM, headquartered in Columbia, Maryland Columbia is a census-designated place and planned community in Howard County, Maryland, United States. It is a suburb of Baltimore, and, to a lesser degree, Washington, DC. It began with the idea that a city could enhance its residents' quality of life. , is a leading provider of high-end planning, design and implementation services to large corporations seeking Intranet/Internet E-commerce solutions, value-added Internet services and enterprise management development. The company reported revenues in calendar 1997 of $13.6 million and expects to generate revenues of $22.0 million in calendar 1998. RPM employs over 150 internetworking and Internet Services consultants providing services to clients in 14 states throughout the US. The company's client list includes Fannie Mae Fannie Mae: see Federal National Mortgage Association. , T. Rowe Price T. Rowe Price (NASDAQ: TROW) is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. T. , SmithKline Beecham, Branch Banking and Trust, First Union National Bank, PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank and Marriott. RPM Consulting will function as a separate business unit within the Solutions Division of Computer Horizons, and will complement the existing Solutions Division's Legacy, Application Development and ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. practices. This Networking Services business unit will enhance Computer Horizons' ability to provide value-added integrated solutions, including cutting-edge solutions in Internet security ''This article or section is being rewritten at Internet security is the process of protecting data and privacy of devices connected to internet from information robbery, hacking, malware infection and unwanted software. and voice/data integration. "The network has become a critical driver in the marketplace, enabling companies to gain competitive and operational advantages. RPM's capabilities allow Computer Horizons to meet this business need as we build new business applications for our customers," commented Pamela A. Fredette, President of Computer Horizons' Solutions Division. "Further, we intend to continue leveraging RPM's established relationships with leading industry vendors such as Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Bay Networks, Nortel, Tivoli and Platinum," she added. Robert Miller, President and Founder of RPM, will become Executive Vice President of Networking Services. "Our new partnership with Computer Horizons provides us access to an attractive customer base for whom we can provide high margin, value-added services such as Strategic Network Business Consulting, Network Engineering and Enterprise Management," Mr. Miller said. "By packaging these services with Computer Horizons' existing solutions capabilities, we can better meet the needs of our combined customer groups," he concluded. Computer Horizons Corp., founded in 1969, is a diversified information technology services company with 4,000 employees worldwide. Through its international network of 50 offices in the US, UK, and Canada, it provides clients with resource augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. and advanced technology solutions to business problems through applications development, client/server migration, network management, emerging technologies, and legacy systems maintenance, including its industry-leading solution to the millennium date-change problem, Signature 2000. Please visit our Web site at http://www.computerhorizons.com. E-mail address See Internet address. e-mail address - electronic mail address for more information is: information@computerhorizons.com. This press release includes certain "forward-looking statements" for purposes of the "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. " provisions of 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 that involves risks and uncertainties that could cause actual results to differ materially. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of Computer Horizons' industry and competition.
CONTACT: David Reingold/William Murphy
Computer Horizons
(973) 299-4000
dreingol@computerhorizons.com
wmurphy@computerhorizons.com
or
Stacy Lipschitz (Investors)
Laura Hupprich (Media)
Ruder Finn
(212) 583-2757/(212) 593-6387
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