HOUSTON, May 20 /PRNewswire/ -- CORESTAFF, Inc. (Nasdaq: CSTF), one of the
largest national providers of information technology and staffing services,
today announced it has acquired Active Software, Inc., a Minneapolis,
Minnesota-based information technology company. Active's 1997 gross revenues
are projected to exceed $7.5 million. Other terms of the transaction were not
disclosed.
Founded in 1984, Active provides a broad range of information technology
services to Fortune 500 companies in the greater Minneapolis area. In
addition to providing highly skilled computer consultants, Active also has a
growing groupware practice, specializing in LotusNotes and Internet
technologies. Co-founder and CEO Mark Sherman and his senior management team
will continue to operate and manage the business.
In commenting on the transaction, Michael T. Willis, CORESTAFF's president
and CEO, stated, "Active represents an ideal tuckunder acquisition for
CORESTAFF and our COMSYS Information Technology Services subsidiary. Active
is a respected information technology company in the Minneapolis market where
COMSYS currently does not maintain an office. We welcome them to the
CORESTAFF team."
Established in 1993, CORESTAFF, Inc. has become one of the largest
national providers of information technology and staffing services through its
three operating units: COMSYS Information Technology Services, CORESTAFF
Services and Information Technology Solutions. The Company, with pro forma
revenues in excess of $850 million, operates more than 150 branches across the
United States and has operations in India and the United Kingdom.
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, important factors which would cause results to differ materially are
set forth under the caption "Risk Factors" in the Company's annual report on
Form 10-K, a copy of which is available upon request from CORESTAFF's investor
relations department.
SOURCE CORESTAFF, Inc.
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CONTACT:
Austin P. Young, EVP, or Edward L. Pierce,
CFO, of CORESTAFF, Inc., 713-961-3633; or General Inquiries,
Marilyn Windsor, 312-640-6692, or Analyst Inquiries, Janine
Warell, 312-640-6775, or Media Inquiries, Laura Kuhlmann,
312-640-6727, all of The Financial Relations Board
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