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Information + Graphics Systems, Inc. Acquires Outsource Laboratories, Inc.; IGS/OLABS Combination to Provide Telecom OSS Integration Solutions and Business-to-Business Solutions.

BOULDER, Colo.--(BUSINESS WIRE)--Sept. 15, 1999--

Information + Graphics Systems, Inc. (IGS), a Boulder, Colorado-based provider of software and services to the telecommunications and e-business industries, announced today that it has acquired Outsource Laboratories, Inc. (OLABS), a privately held company headquartered in Shrewsberry, New Jersey.

OLABS provides high-end custom software development services and training services within the telecommunications industry.

Jonathan Bein, CEO of IGS, said: "Because of internet growth and new technology platforms, the telecommunications industry requires a new brand of solutions company. OLABS has a strong telecommunications background, as well as experienced development and training expertise. Given our telecom, '.com' and software capability, we believe that our high-performance teams can bring significant business breakthroughs for our convergence customers."

IGS will maintain offices in Colorado and New Jersey, as well as an office in Belfast, Northern Ireland. Rick Joyce, co-founder and CEO of OLABS remarked: "Both IGS and OLABS have demonstrated the value of 'time to market' solutions for the telecom and e-business industries by combining domain and technological expertise, core values and a strong customer focus. We now have experienced service organizations in three key regions and our strategic plan is to seek acquisitions in other key regions."

About IGS

Information + Graphics Systems, Inc. was founded in 1987 by IGS CFO Steven Bruny. IGS has successfully provided software development services, products and consulting to the Regional Bell Operating Companies including Pacific Bell, Bell South and U S WEST. In September of 1998, IGS merged with Bolder Heuristics, Inc., an Inc. 500 company specializing in IT and Telecommunication software development. Customers include: Bell Atlantic, MediaOne, and CSG. IGS' financial backers include E.M. Warburg, Pincus & CO., LLC of New York.

About OLABS

Outsource Laboratories, Inc. was founded in 1996 by Rick Joyce, Magda Nour, and Yuh-Tay (Ted) Liow, Ph.D., distinguished engineers from AT&T Bell Laboratories. The founders' extensive experience in design, development, and deployment of 24x7 mission-critical software for network management allowed them to create a unique development and training environment. OLAB customers include AT&T, Lucent Technologies, Ariel Corp, and Coaxicom. AT&T and Lucent collectively have thousands of end users using OLABS-produced systems and graphical user interfaces as well as provided thousands of course days of training for their internal developers.
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Publication:Business Wire
Date:Sep 15, 1999
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