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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): September 18, 1998
BRITE VOICE SYSTEMS, INC.
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(Exact name of Registrant as specified in its Articles of Incorporation)
Kansas 0-17920 48-0986248
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
250 International Parkway, Suite 300, Heathrow, Florida 32746
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (407) 357-1000
Not Applicable
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(Former name, or former address,
if changed since last report)
ITEM 5. OTHER EVENTS
On September 18, 1998, Brite Voice Systems, Inc. (the "Company") announced
that it has entered into a letter of intent to sell the assets of Telecom
Services Limited, its telecommunications management services division ("TSL"),
to an undisclosed buyer for $20 million cash and $5 million in preferred stock.
The Company's TSL division provides billing verification and optimization,
professional services, software and managed services. The closing of the
transaction is contingent upon the negotiation of certain terms and conditions
and the execution of a definitive purchase agreement. On September 18, 1998,
the Company issued a press release concerning the TSL transaction, a copy of
which is attached hereto as Exhibit 99.1 and is incorporated by reference
herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
99.1 Press release of the Company dated September 18, 1998, relating
to the entering into of a letter of intent to sell the assets of the
Company's Telecom Services Limited division.
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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, thereunto duly authorized.
BRITE VOICE SYSTEMS, INC.
By: /s/ Glenn A. Etherington
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Glenn A. Etherington
Chief Financial Officer
Dated: September 18, 1998
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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<S> <C>
99.1 Press release of the Company dated September 18, 1998, relating
to the entering into of a letter of intent to sell the assets of
the Company's Telecom Services Limited division.
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EXHIBIT 99.1
PRESS RELEASE
BRITE TO SELL TELECOMMUNICATIONS MANAGEMENT SERVICES DIVISION FOR $25 MILLION
ORLANDO, FLA., September 18, 1998 - Brite Voice Systems (NASDAQ:BVSI), a world
leader in the design, manufacture and delivery of enhanced telecommunications
and interactive information systems, announced today that it has entered into
a letter of intent to sell the assets of Telecom Services Limited (TSL), its
telecommunications management services division, to an undisclosed buyer, for
$20 million cash and $5 million in preferred stock. Brite's TSL division
provides billing verification and optimization, professional services,
software and managed services. Closing of the transaction is contingent upon
the negotiation of certain terms and conditions and the execution of a
definitive purchase agreement.
"During the last twelve months, Brite has refined its focus to enhanced
telecommunications systems and interactive information systems. Substantial
opportunities exist for Brite in these core businesses which require further
investment, both human and financial. Although the long-term prospects for our
telecommunications management services division remain promising, the TSL
business no longer fits within our strategic product direction. We will devote
those resources to the areas that have the greatest potential return for our
shareholders," stated David S. Gergacz, Chairman and CEO for Brite.
ABOUT BRITE
Brite is a world leader in providing enhanced telecommunications systems and
interactive information systems. Brite's products include prepaid and
enhanced calling card systems for wireless and wireline communications
companies, and IVR-CTI for businesses and organizations. The company also
provides managed service capabilities for these products. Brite's world
headquarters are located in Heathrow, Florida, a suburb of Orlando, and has
offices worldwide. Contact Brite at 1-800-SEE-BRITE, or on the Web at
www.brite.com.
Brite is certified ISO 9001/TickIT, a globally accepted quality management
recognition. Brite's certification includes the design, development,
manufacture, installation and support of computer-based voice and multimedia
systems. The certification also includes the company's associated managed
services, information services and training services.
# # #
Brite is a trademark of Brite Voice Systems, Inc. Other product and company
names are used herein for identification purposes only and may be trademarks
of their respective companies.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: This press release and public oral statements by Company
representatives, may contain certain forward-looking information that is
subject to certain risks and uncertainties that could cause actual results to
differ materially from those projected. Statements that are not historical
facts, including statements about confidence and strategies and plans and
expectations about new and existing products, services, technologies and
opportunities, industry growth, demand, demand and acceptance of new and
existing products, and returns on investments in products and markets are
forward-looking statements that involve risks and uncertainties that could
significantly
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impact the Company. These include but are not limited to the projected market
for Brite's products and references to areas of the business that provide
greatest potential return for shareholders. Factors, which could cause
actual expectations to differ materially from these projections, include
changes in the global economic conditions in both established and emerging
markets, as well as the competitive environment within the industry. In
addition, as described in this release, this proposed disposition is subject
to various contingencies, and no assurances can be given that this
transaction will be consummated. For a discussion of other risks and
uncertainties to which information respecting future events is subject, see
the Company's periodic reports on Forms 10-K and 10-Q.
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