NATIONAL TECHTEAM, INC. ANNOUNCES AGREEMENT FOR ACQUISITION OF UNIBASE, INC.
NATIONAL TECHTEAM, INC. ANNOUNCES AGREEMENT FOR ACQUISITION OF UNIBASE, INC. DEARBORN, Mich., Aug. 13 /PRNewswire/ -- National TechTeam, Inc. (NASDAQ: TEAM) today announced that it has signed a definitive Letter of Intent to acquire Unibase, Inc. of Dearborn, in a purchase of assets for cash and stock. The transaction is expected to be completed in early September 1992, and is subject to shareholder approval and other customary conditions. National TechTeam is a computer management company that provides computer training, support and contract programming services to major corporations and large government entities. Unibase, Inc. is a privately held corporation engaged in providing expert systems analysis and integration services in the open system relational database environment. Under the purchase agreement terms, Unibase employees will become TechTeam employees effective Sept. 1, 1992, and TechTeam will begin serving existing Unibase customers. Donald Frabutt, president and founder of Unibase, will join TechTeam as director of UNIX Services. Frabutt has over 30 years' experience in the computer industry and has extensive consulting experience in complex relational database design, application development and training. Prior to founding Unibase in 1985, Frabutt held executive positions with Ford Motor Company. In making the announcement, TechTeam CEO William F. Coyro Jr. said "Unibase supplements and expands TechTeam's existing computer service offerings. TechTeam is now positioned to provide high level expert systems analysis, advanced programming services in UNIX and relational database technology, as well as provide system integration services for all advanced software platforms. The addition of Unibase is expected to substantially increase TechTeam revenues and earnings." -0- 8/13/92 /CONTACT: William F. Coyro Jr., president and CEO, or Douglas Howard, CFO, National TechTeam, Inc., 313-277-2277/ (TEAM) CO: National TechTeam, Inc.; Unibase, Inc. ST: Michigan IN: CPR SU: TNM
JG -- DE008 -- 9554 08/13/92 10:59 EDT
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|Date:||Aug 13, 1992|
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