NATIONAL TECHTEAM, INC. ANNOUNCES AGREEMENT FOR ACQUISITION OF MICRO SYSTEMS GROUP, INC.
DEARBORN, Mich., Sept. 16 /PRNewswire/ -- National TechTeam (NASDAQ: TEAM) today announced that it has signed a definitive Letter of Intent to acquire Micro Systems Group of Chicago in a merger arranging for an exchange of stock. The transaction is expected to be completed by Oct. 1, 1993, and is subject to approval by TechTeam's and Micro Systems' Boards of Directors and other customary conditions. In making the announcement, TechTeam CEO William F. Coyro Jr. said, "Micro Systems Group is a very well-managed company with a good presence in the Chicago marketplace. Ken Heim, president of MSG, and Jeff Corey, executive vice president of MSG, will be excellent additions to TechTeam's Management Team and will help the company expand its operations nationally. Micro Systems Group has a considerable amount of expertise in Unix, networking services and advanced technical solutions. There is a lot of synergy between the two companies. The addition of Micro Systems Group is expected to increase TechTeam's revenues and earnings during 1994." Micro Systems Group is a computer services company that provides computer hardware, software, networking, and consulting services to over 300 customers in the Midwest. The company is privately held and located in Hoffman Estates, Ill., a Chicago suburb. Micro Systems Group has been in business since 1985 and had sales of $3.4 million for 1992. National TechTeam, Inc. is headquartered in Dearborn and has been a public company since 1987. The company provides quality computer training, support, networking services, consulting, contract staffing, and corporate management services for major companies on a national scale. National TechTeam is traded on the NASDAQ under the symbol TEAM. -0- 9/16/93 /CONTACT: William F. Coyro Jr., chief executive officer of National TechTeam, 313-277-2277; or Kenneth N. Heim, president of Micro Systems Group, 708-882-5666/ (TEAM)
CO: National TechTeam, Inc.; Micro Systems Group, Inc. ST: Michigan, Illinois IN: CPR SU: TNM
ML-DC -- DE009 -- 2582 09/16/93 09:39 EDT
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|Date:||Sep 16, 1993|
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