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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JULY 1, 1997
METRO INFORMATION SERVICES, INC.
(Exact name of registrant as specified in its charter)
VIRGINIA 000-22035 54-1112301
(State of incorporation) (Commission File No.) (I.R.S. Employer
Identification Number)
POST OFFICE BOX 8888 VIRGINIA BEACH, VIRGINIA 23450
(Address of principal executive office) (Zip Code)
(757) 486-1900
(Registrant's telephone number, including area code)
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Item 5. Other Events
On July 1, 1997, Metro Information Services, Inc. acquired the business
operations of Data Systems Technology, Inc. The acquisition was accomplished
using a portion of the proceeds of the initial public offering completed by
Metro in January 1997 and will be accounted for using the purchase method of
accounting. A copy of the News Release announcing the acquisition is attached.
Item 7 (c). Exhibits
1. News Release dated July 1, 1997 announcing the acquisition of Data
Systems Technology, Inc.
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto the duly authorized.
METRO INFORMATION SERVICES, INC.
Date Signed: July 11, 1997 By: /s/ Robert J. Eveleigh
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Chief Financial Officer
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For Immediate Release For Further Information
Julann Oppasser Donnelly
Investor Relations
(757)306-0299 or
Dean Dranias,
Dresner Corp. Services
(312) 726-3200
Metro Information Services Announces First Acquisition:
Acquires Data Systems Technology of Columbia, SC.
Virginia Beach, Virginia, July 1, 1997--Metro Information Services, Inc.
(NASDAQ-MISI) today announced its first acquisition. Metro, an information
technology services firm, purchased Data Systems Technology (DST), an
information technology services company with offices in Columbia and Greenville,
SC. DST's 1997 revenues are projected to exceed $3 million.
While transaction terms were not disclosed, Metro's strategy is to make
accretive acquisitions. DST's founder and President, John D. Asman, and his
senior management group will continue to operate and manage the business as a
division of Metro. With this acquisition, Metro has 26 offices in the United
States and Puerto Rico.
John H. Fain, Metro's President and CEO, said, "DST provides an excellent
fit as our first acquisition because of our similar corporate cultures, the
familiarity and mutual respect of our senior management teams, the
compatibility of DST's existing South Carolina client base and DST's ability to
contribute to Metro's business model."
John Asman, DST's President and CEO, said, "We have known Metro for many
years. The similarity of our goals and objectives led us to pursue this
transaction. We are pleased to become a part of Metro."
Metro provides a wide range of information technology consulting and
software development services and has more than 1,350 consultants and a total
staff of more than 1,500. Metro's services include application systems
development and maintenance, information technology architecture and
engineering, systems consulting, project outsourcing (including Year 2000
compliance) and general support services. Information about Metro is
available via the Internets World Wide Web at http://www.MetroIS.com.
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Forward-looking statements involve risks and uncertainties that
could cause actual results to vary materially from those referred to in such
statements. Please refer to a discussion of these and other factors in the
Company's Annual Report on Form 10-K, plus Form 10-Qs and other Securities
and Exchange Commission filings.
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Corporate Headquarters
200 Golden Oak Court
Reflections II, 3rd Floor
Virginia Beach, VA 23452
Arizona Ohio
Phoenix Cincinnati
Columbus
Colorado Pennsylvania
Denver Philadelphia
Caribbean Islands
San Juan, Puerto Rico South Carolina
Columbia
District of Columbia Greenville
Washington
Tennessee
Florida Nashville
Ft.Lauderdale
Jacksonville Texas
Orlando Dallas/Ft. Worth
Tampa Houston
Georgia Virginia
Atlanta Richmond
Roanoke
Illinois Virginia Beach/Norfolk
Chicago
Washington
Kansas/Missouri Seattle
Kansas City
St. Louis
North Carolina
Charlotte
Greensboro/Winston-Salem
Raleigh/Durham
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