HOUSTON, Jan. 5 /PRNewswire/ -- CORESTAFF, Inc. (Nasdaq: CSTF), one of the
largest national providers of information technology services and staffing
services, announced today it has acquired Workgroup Productivity Corporation
(Workgroup), an information technology consulting business. Other terms of
this transaction were not disclosed.
Workgroup, founded by Randal A. Zahora in 1992, consults on the design,
development and implementation of collaborative computing systems/solutions,
principally with IBM Lotus Notes/Lotus Domino and Microsoft Exchange
technologies. Workgroup is headquartered in a suburb of Chicago with
additional offices in Los Angeles and Denver. The company is projected to
generate 1998 revenues of approximately $7.2 million and will join CORESTAFF's
Metamor Solutions business unit. Mr. Zahora and his management team will
continue to operate the business.
Commenting on the transaction, Michael T. Willis, CORESTAFF's president
and chief executive officer, said, "Workgroup has built a solid reputation for
delivering high-quality technology solutions in the collaborative computing
arena and will enhance our existing network, Internet and collaborative
computing solutions practice."
Established in 1993, CORESTAFF, Inc. is one of the largest national
providers of information technology (IT) services and staffing services
through its two business groups: the IT Services Group, which is comprised of
COMSYS Information Technology Services and Metamor Solutions, and the Staffing
Services Group, which operates under the name CORESTAFF Services. The
company, with pro forma revenues in excess of $1.0 billion, operates 150
offices in 28 states, the District of Columbia, the United Kingdom and India.
Except for historical information, all of the statements, expectations and
assumptions contained in the foregoing are forward-looking statements that
involve a number of risks and uncertainties. Although the company has used
its best efforts to be accurate in making those forward-looking statements, it
is possible that the assumptions made by management may not materialize. In
addition, the information set forth under the caption "Risk Factors" in the
company's Registration Statement on Form S-3 (File No. 333-31509) and in the
company's Form 10-K for the fiscal year ended December 31, 1996, describe
certain additional risk and uncertainties that could cause actual results to
vary materially from the future results covered in such forward-looking
statements.
CORESTAFF, Inc. can be reached on the Internet at http://www.corestaff.com
Workgroup can be reached on the Internet at http://www.wpcorp.com
SOURCE CORESTAFF, Inc.
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Related links:
http://www.corestaff.com;
http://www.wpcorp.com
CONTACT:
Austin P. Young, EVP, or Edward L. Pierce,
CFO, 713-548-3400, both of CORESTAFF, Inc.; Marilyn Windsor,
General Inquiries, 312-640-6692, Janine Warell, Analyst
Inquiries, 312-640-6775, or Darcy Bretz, Media Inquiries,
312-640-6756, all of The Financial Relations Board
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