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WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): NOVEMBER 13, 1997
LASON, INC.
DELAWARE 0-21407 38-3214743
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
1305 STEPHENSON HIGHWAY
TROY, MICHIGAN 48083
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(Address of Principal (Zip Code)
Executive Offices)
(810) 597-5800
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(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
As disclosed in the attached press release, on November 14, 1997, Lason,
Inc. announced the signing of a definitive agreement to acquire
substantially all of the assets of VIP Imaging Inc. The agreement is
subject to a number of conditions, including Hart-Scott-Rodino
regulatory review.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
99.1 November 14, 1997 Press Release
SIGNATURES
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.
Dated: November 14, 1997 LASON, INC.
By: /s/ William J. Rauwerdink
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William J. Rauwerdink
Its: Executive Vice President
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EXHIBIT INDEX
Exhibit: Description:
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99.1 November 14, 1997 Press Release
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[LASON LETTERHEAD]
Contact: William J. Rauwerdink EXHIBIT 99.1
Executive Vice President
(248) 597-5800
LASON ACQUIRES VIP IMAGING INC.
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ACQUISITION ADDS $18 MILLION IN ANNUALIZED REVENUES AND OPERATIONS
IN KEY MARKET
Troy, Michigan (November 14, 1997) - Lason, Inc. (Nasdaq NM:LSON) today
announced the signing of a definitive agreement to acquire substantially all of
the assets of VIP Imaging Inc. (VIP), a privately held company based in San
Francisco, California. VIP is the leading independent provider of high quality
color print-on-demand services to the San Francisco Bay Area. Revenue of the
acquired business is approximately $18 million on an annualized basis. The
sellers will be paid cash and shares of Lason's common stock; other terms of
the acquisition were not disclosed.
"The VIP acquisition is a significant transaction for Lason in three
ways," said Gary L. Monroe, president and chief executive officer of Lason.
"First, VIP provides a new major platform in northern California, an important
target market for Lason. Second, its high-end color print-on-demand
capabilities complements our Lason Document Express(TM) services. Third, VIP
has tremendous expertise in managing electronic and digital input and using the
Internet for on-line ordering and print creation.
"In addition to VIP's operational and service offering strengths, the
combination brings to Lason a talented senior management team, located in a key
market targeted for expansion by Lason. Mel Valdez and Lou Lee, founders of
VIP, will continue in senior roles with the company. We are very pleased to
have the VIP team join Lason."
The VIP acquisition will add to Lason many Fortune 500-sized commercial
and financial services accounts, and approximately 180 employees. The
transaction is subject to Hart-Scott-Rodino regulatory review.
Lason is a leading provider of integrated outsourcing services for
records management, document management and business communications. Since its
founding in 1985, Lason has grown to employ over 1,900 people with operations
in 15 states and services being provided to over 2,900 customers. The Company
currently has 27 multi-functional imaging centers and operates over 45 facility
management sites located on customer's premises.
The statements in this press release which are not historical fact are
forward-looking statements that involve risks and uncertainties including, but
not limited to, developments by competitors, entry of new competitors, changes
in the business services outsourcing industry, and other risks detailed in the
Company's prospectus dated August 27, 1997, and other filings with the
Securities and Exchange Commission.
