HOUSTON, Dec. 22 /PRNewswire/ -- CORESTAFF, Inc. (Nasdaq: CSTF), one of
the largest national providers of information technology (IT) services and
staffing services, announced today it has agreed to acquire Deltam Systems,
Inc. (Deltam), one of the largest independent information technology staffing
companies in the San Francisco Bay Area. Deltam is projected to generate 1997
revenues of approximately $15 million. The acquisition is expected to be
completed in January 1998. Other terms of the transaction were not announced.
San Mateo-based Deltam currently employs 120 consultants. Lew Hudspeth,
vice president-operations of Deltam, will continue to operate the business for
CORESTAFF's COMSYS Information Technology Services business unit.
Commenting on the transaction, Michael T. Willis, CORESTAFF's president
and chief executive officer, said, "With the addition of Deltam, COMSYS will
have a combined staff of over 330 consultants in the Bay Area. We believe we
have built critical mass in the Bay Area and are now one of the top five
information technology staffing companies in that important market."
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 147
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 risks and uncertainties that could cause actual results to
vary materially from the future results covered in such forward-looking
statements.
For further information regarding CORESTAFF, Inc. free of charge via fax,
dial 800-PRO-INFO and enter "CSTF."
SOURCE CORESTAFF, Inc.
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Related links:
http://www.corestaff.com
CONTACT:
Austin P. Young, EVP, or Edward L. Pierce,
CFO, of CORESTAFF, 713-548-3400; or 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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