Printer Friendly

SOFTWARE PRODUCTION JOINS PRISM GROUP

 SOFTWARE PRODUCTION JOINS PRISM GROUP
 WOODINVILLE, Wash., Sept. 16 /PRNewswire/ -- Prism Group Inc.


(OTC Pink Sheets) has signed a letter of intent to acquire Software Production Inc. (SPI), a software manufacturing services firm based in Bellevue, Wash., for an amount in excess of $3 million, payable in cash and stock over a three-year period, according to K.C. Aly, Prism's president.
 "This acquisition expands the company's software manufacturing business. SPI's business and customer base are distinct from, and complimentary to, MicroDisk Services, Prism's primary subsidiary," Aly said. "SPI will be operated as an independent subsidiary, and we are excited about their addition to Prism Group."
 SPI's executive team will continue unchanged. Richard McNeill is president, Mike Poste is vice president of Sales and Marketing and Scott Emmons is vice president of Operations. McNeill noted that the transaction would allow SPI access to additional finances and other resources to help SPI continue its record of successful operations and growth.
 SPI employs more than 80 people and operates from a 30,000-square- foot facility in Bellevue. Its 1991 sales were approximately $4,000,000.
 Prism Group acquired MicroDisk Services of Woodinville in November 1991. MicroDisk, like SPI, is a software manufacturer.
 Prism, based in Sarasota, Fla., is traded on the over-the-counter market under the symbol PSMG.
 -0- 9/16/92
 /CONTACT: Brad Tedeschi of Prism Group, 206-889-4457; or K.C. Aly of MicroDisk Services, 206-881-1609; or Richard McNeill of Software Production, 206-746-7467/
 (PSMG) CO: Prism Group Inc.; MicroDisk Services; Software Production Inc. ST: Washington, Florida IN: CPR SU: TNM


LM-JH -- SE004 -- 0362 09/16/92 18:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 16, 1992
Words:266
Previous Article:COLLINS & AIKMAN GROUP INC. ANNOUNCES DIVIDEND
Next Article:COLLINS & AIKMAN HOLDINGS CORP. ANNOUNCES DIVIDEND
Topics:


Related Articles
PRISM GROUP INC. APPROVED FOR NASDAQ LISTING
PRISM GROUP ACQUIRES SOFTWARE PRODUCTION INC.; ANNOUNCES RENAISSANCE INVESTMENT, ALY ELECTED CHIEF EXECUTIVE OFFICER
PRISM GROUP, INC. ANNOUNCES AGREEMENT WITH RAINBOW TECHNOLOGIES
PRISM GROUP NAMES NEW CHIEF FINANCIAL OFFICER
PRISM ANNOUNCES FIRST QUARTER RESULTS, NEW CEO AND SALE OF SUBSIDIARY
PRISM GROUP INC. ANNOUNCES CONSOLIDATION
PRISM GROUP, INC. ANNOUNCES TWO NEW KEY BUSINESS AND FINANCE POSITIONS
Prism Schedule Manager Automates Data Warehouse Planning, Scheduling and File Transport
PRISM SOFTWARE CORP. AND HYLAND SOFTWARE ANNOUNCE COOPERATIVE MARKETING INITIATIVE.
XEROX AND PRISM SOFTWARE: STRATEGIC MARKETING AGREEMENT.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters