SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported):
January 7, 1997
PAYCHEX, INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-11330 16-1123166
__________________________________________________________________________
(State or other (Commission I.R.S. Employer
jurisdiction File No.) Identification
of incorporation) No.)
911 Panorama Trail South Rochester, New York 14625
__________________________________________________________________________
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (716)385-6666
N/A
__________________________________________________________________________
(Former name or former address, if changed, since last report)
<PAGE>
ITEM 5. OTHER EVENTS
On November 21, 1996, Paychex, Inc. acquired all of the outstanding stock of
Olsen Computer Systems, Inc., (now Paychex Computer Systems, Inc.), in a
business combination accounted for as a pooling of interests. The
stockholders of Olsen Computer Systems, Inc. received approximately 393,000
shares of Paychex, Inc. common stock. In accordance with the merger
agreement, Paychex, Inc. agreed to publish consolidated financial information
covering at least 30 days of post-merger combined operations. Consolidated
revenue and net income for the seven month period ended December 31, 1996 were
$399.9 million and $42.2 million, respectively.
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: January 21, 1997
PAYCHEX, INC.
By: /s/ John M. Morphy
_____________________________________
John M. Morphy, Vice President,
Chief Financial Officer and
Secretary
