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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 and Exchange Act of 1934
Date of report (Date of earliest event reported):
November 16, 1999
VOLT INFORMATION SCIENCES, INC.
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Exact Name of Registrant as Specified in Its Charter
New York 1-9232 13-5658129
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1221 Avenue of the Americas, New York, New York 10020
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(Address of Principal Executive Offices) (Zip Code)
(212) 704-2400
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On November 16, 1999, the Company entered into an agreement with
Lucent Technologies to purchase the Wired Services and Professional
Staffing divisions of two Lucent subsidiaries. The Wired Services
Division installs cable, wire and small telecommunications systems for
businesses, and Professional Staffing Division provides technical,
management and administrative personnel for temporary assignments. The
agreement is subject to certain conditions and is expected to close in
December 1999.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
(c) Exhibits:
99.01 Press Release dated November 17, 1999.
S I G N A T U R E
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.
VOLT INFORMATION SCIENCES, INC.
Date: November 24, 1999 By: /s/ James J. Groberg
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James J. Groberg, Senior Vice President
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EXHIBIT INDEX
Exhibit
Number Description
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99.01 Press Release dated November 17, 1999.
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James J. Groberg / Ron Kochman Lynn Newman
Volt Information Sciences, Inc Lucent Technologies
(212) 704-2400 908-582-3193 (work)
[email protected] 973-993-8033 (home)
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Linda Edgerton
Lucent Technologies
336-279-3024 (work)
800-807-0616 (pager)
[email protected]
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VOLT INFORMATION SCIENCES TO PURCHASE PORTIONS OF TWO LUCENT TECHNOLOGIES
SUBSIDIARIES
FOR IMMEDIATE RELEASE: WEDNESDAY, NOVEMBER 17, 1999
NEW YORK, N.Y. - Volt Information Sciences, Inc. (NYSE: VOL) and Lucent
Technologies (NYSE: LU) announced today that they have signed a definitive
agreement for Volt to purchase the Wired Services and Professional Staffing
divisions of two Lucent subsidiaries. The two divisions are a Wired Services
Division that installs cable, wire and small telecommunications systems for
businesses, and a Professional Staffing Division that provides technical,
management and administrative personnel for temporary assignments. Financial
terms of the transaction were not disclosed.
The two divisions being sold are part of Lucent Technologies Technical
Services Company and Lucent Technologies Services Company, subsidiaries which
originally were formed to provide Lucent with short-term staffing for government
communications contracts. Over time these subsidiaries evolved to provide
telecommunication services and temporary staffing to commercial customers as
well.
Lucent will retain the government contracts currently supported by these
two services subsidiaries.
The two divisions being purchased by Volt employ approximately 970
employees.
Commenting on the transaction with Volt, Jim O'Neill, president of Lucent
Technologies, Government Solutions stated, "We've determined that these
commercial portions of the business - though healthy and profitable - are not
central to Lucent or to our strategic focus in the government marketplace. In
looking for a buyer, it was our objective to find a respected company that would
value our employees and provide them with comparable pay and benefits. We're
convinced that Volt fits that bill."
-more-
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William Shaw, president of Volt, added, "We are extremely pleased with the
addition of the quality workforce of these two Lucent divisions to Volt's
operations. This transaction is another example of how Volt allows its clients
to focus on their primary business by utilizing Volt's core competencies in
staffing and telecommunications outsourcing services."
Lucent Technologies, headquartered in Murray Hill, N.J., designs, builds
and delivers a wide range of public and private networks, communications systems
and software, data networking systems, business telephone systems and
microelectronic components. Bell Labs is the research and development arm for
the company. For more information on Lucent Technologies, visit the company's
Internet web site at http://www.lucent.com.
For nearly half a century, Volt Information Sciences, Inc. has been a
leading national provider of Staffing Services, Telecommunications Services, and
Electronic Publication and Typesetting Systems for its Fortune 100 customer
base. Operating through a network of over 300 branch offices, the Staffing
Services segment fulfills IT, and other technical, commercial, and industrial
placement requirements of its customers, on both a temporary and permanent
basis. Telecommunications Services provides complete telephone directory
production, printing and publishing; a full spectrum of telecommunications
construction, installation and engineering services; and information and
operator services systems for telephone companies. Electronic Publication and
Typesetting Systems provides digital prepress publishing solutions for its high
circulation customers, primarily newspapers. For additional information, please
visit the Volt Information Sciences, Inc. web site at www.volt.com.
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