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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
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 1, 1998
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ACSYS, INC.
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(Exact name of registrant
as specified in its charter)
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<S> <C> <C>
Georgia 000-23711 58-2299173
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation
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75 Fourteenth Street, Suite 2200, Atlanta, Georgia 30309
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (404) 817-9440
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2000 Pennsylvania Avenue, Suite 7650 Washington, DC 20006
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On July 1, 1998, Acsys, Inc. (the "Company") acquired by merger all of the
interest in KPD Systems, Inc. ("KPD") pursuant to the Agreement and Plan of
Merger by and among the Company, Acsys NY, Inc., KPD and Howard Sapolsky, the
sole shareholder of KPD. Terms of the transaction were undisclosed.
A copy of the press release announcing the closing of the acquisition of
KPD is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
ITEM 7. EXHIBITS.
(c) EXHIBITS.
99.1 Press Release dated July 1, 1998
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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.
ACSYS, INC.
BY: /s/ Timothy Mann Jr.
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Timothy Mann, Jr.
Chief Executive Officer
Dated: 7/7/98
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EXHIBIT INDEX
Exhibit
Number Page
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99.1 Press Release dated July 1, 1998.................. 5
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EXHIBIT 99.1
Contact: Timothy Mann, Jr.
Chief Executive Officer
(404) 817-9440 x 3320
ACSYS, INC. ACQUIRES KPD SYSTEMS, INC.
WILL BECOME PART OF ACSYS'S NEW YORK CITY PRESENCE
ATLANTA (July 1, 1998) Acsys, Inc. (Nasdaq/NM:ACSY), a leading provider of
specialty professional staffing services primarily in the accounting, finance
and information technology fields, today announced that it has acquired KPD
Systems, Inc., a New York-based information technology staffing firm. KPD will
become part of Acsys's New York City office which will be opening later this
summer. KPD operates one office and had 1997 revenues of $2.7 million, based on
unaudited results. The transaction is expected to be accretive to 1998
earnings. Terms of the transaction were not disclosed.
Timothy Mann, Jr., chief executive officer of Acsys, said, "Opening a
New York City office has been a priority for us, and the acquisition of KPD jump
starts our plans. We are on schedule to open a de novo office in New York in
late summer and will relocate KPD to our facilities. In addition to the
spectrum of professional staffing services that we will provide, KPD, with its
electronic messaging focus, gives us another IT niche service to cross-sell to
our other offices. Our NYC office will include both a temporary and permanent
placement accounting and finance practice as well as an IT practice. Under the
leadership of Howard Sapolsky, who founded KPD and has more than 18 years of
experience in IT staffing, KPD provides excellent client and candidate bases.
We will immediately begin transitioning KPD to the Acsys Information Technology
brand."
Acsys, Inc. is one of the leading accounting and finance temporary
staffing and permanent placement firms in the U.S. The Company operates 19
offices serving the Atlanta, Charlotte, New Jersey, Philadelphia, Tampa,
Orlando, Washington, D.C. and Richmond metropolitan markets.
Information contained in this press release, other than historical
information, should be considered forward-looking in nature and is subject to
various risks, uncertainties and assumptions. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those anticipated, estimated or
expected. Among the key factors that may have a direct bearing on the operating
results, performance or financial condition are the Company's ability to achieve
and manage growth; the Company's ability to successfully identify suitable
acquisition candidates, complete acquisitions or integrate the acquired business
into its operations; the Company's ability to attract and retain qualified
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personnel; the Company's ability to develop new services; and other factors
discussed in Acsys's filings with the Securities and Exchange Commission.
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