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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
February 25, 1998
Date of Report
(Date of earliest event reported)
Commission File Number 0-27574
POWERCERV CORPORATION
(Exact name of registrant as specified in its charter)
FLORIDA 59-3350778
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
400 NORTH ASHLEY DRIVE, SUITE 2700, TAMPA, FLORIDA 33602
(Address of principal executive offices.)
(813) 226-2600
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
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INFORMATION INCLUDED IN THIS REPORT
Items 1 through 4, 6 and 8 Not Applicable.
Item 5. Other Events.
Reference is made to the press release issued to the public by the
registrant on February 25, 1998, the text of which is attached hereto as an
exhibit, for a description of the events reported pursuant to this Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
99.1 Text of press release dated February 25, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
POWERCERV CORPORATION
(Registrant)
Date: February 25, 1998 By: /s/ Stephen M. Wagman
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Stephen M. Wagman
Senior Vice President and Secretary
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INDEX TO EXHIBITS
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Exhibit Document Page
<S> <C> <C>
99.1 Text of press release dated February 25, 1998................ 5
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POWERCERV HIRES NEW PRESIDENT/COO
MICHAEL J. SIMMONS JOINS POWERCERV
TAMPA, FL, FEBRUARY 25, 1998 -- POWERCERV CORPORATION (NASDAQ: PCRV), a provider
of enterprise resource planning (ERP) application software and services
solutions, announced that it has hired Michael J. Simmons, 50, as president and
chief operating officer. He will also join the company's board of directors.
Simmons was previously a member of the executive management team of Platinum
Software Corporation and has more than 20 years of financial and operations
experience, mostly with public companies.
Simmons served as CFO of Platinum, a client/server ERP software provider, since
1994 where he played a major role in rebuilding Platinum and its market
valuation from $100 million to approximately $500 million. "This successfully
completes the search, announced in late 1997, for an experienced software
industry executive officer," said Roy E. Crippen, III, acting president/COO and
a co-founder of the company. Crippen will assume his active role in the company
as vice chairman and chief technology officer.
"Mike brings significant operational and financial expertise directly within our
industry that fits perfectly with PowerCerv's requirements," said Marc Fratello,
chairman and CEO. "When he joins the company in early March, Mike's number one
priority will be to focus on executing a return to profitability. His track
record demonstrates success in rebuilding companies, the ability to drive
revenue growth, and management leadership. Mike also has a strong understanding
of meaningful trends in our industry, which strengthens his credibility as a
senior executive in the ERP software market. I believe Mike will have an
immediate positive impact on our business."
Simmons' background also includes executive positions with companies such as CPG
International and Silicon Systems. Simmons received his MBA from Rutgers
University and his bachelor's degree in economics at St. Peter's College.
PowerCerv was the first company to deliver to the middle market a
fully-integrated suite of client/server business applications for manufacturing,
distribution, financials, sales force automation and customer support and
focuses primarily on sales to U.S.-based manufacturers. PowerCerv products and
services are sold through a U.S. sales force, and through value-added channel
partners outside the United States. The company offers training and consulting
services to support its software products, as well as consulting and systems
implementation service for a variety of corporate applications. For more
information on the company, contact PowerCerv at (813) 226-2600, fax (813)
222-0886, or visit the company's web site at http://www.powercerv.com.
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