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SAZTEC INTERNATIONAL ANNOUNCES NEW FUNDING, PENDING ACQUISITION

 SAZTEC INTERNATIONAL ANNOUNCES NEW FUNDING, PENDING ACQUISITION
 KANSAS CITY, Mo., June 10 /PRNewswire/ -- SAZTEC International Inc. (NASDAQ: SAZZ) of Kansas City today announced two transactions that will increase working capital and expand the company's United States operations.
 A private stock sale will contribute more than $500,000 of new equity. Principal buyers of the securities are a group involved in a 1990 subordinated convertible debenture transaction with SAZTEC. Some of these private investors are principals in William Blair & Co. SAZTEC directors and key executives also participated in the private placement.
 SAZTEC also announced an agreement in principle with Global Tech Inc. to arrange, through an affiliated company, $1,000,000 in additional funding. The financing will be in the form of a subordinated convertible debenture bearing interest at an initial rate of 8 percent and convertible into common stock at $2.875 per share.
 SAZTEC will also acquire the assets and business of Data Development Inc. (DDI) from Global. DDI is an information conversion company located in Palm City, Fla., with annual revenue of approximately $2 million, according to Richard C. Thompson, president and chief operating officer of SAZTEC. Thompson stated that DDI offers services complementary to SAZTEC and that its location in the Southeast United States made it strategically attractive. Terms of the pending acquisition were not disclosed.
 SAZTEC expects the Global transactions to be completed within 60 days.
 SAZTEC International, a world leader in information management, provides services for database construction and information conversion utilizing computer processing, electronic imaging, optical character recognition, data entry and other technologies.
 SAZTEC International, is traded in the over-the-counter market and is quoted on NASDAQ under the symbol SAZZ. For more information, contact David W. Roberts, senior vice president and treasurer, SAZTEC International Inc., 6700 Corporate Dr., Kansas City, MO 64120. The telephone number is 816-483-6900.
 -0- 6/10/92
 /CONTACT: David W. Roberts of SAZTEC International, 816-483-6900/
 (SAZZ) CO: SAZTEC International Inc. ST: Missouri IN: CPR SU:


BB -- DV005 -- 8947 06/10/92 16:19 EDT
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Publication:PR Newswire
Date:Jun 10, 1992
Words:334
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