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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: October 12, 1998
(Date of the earliest event reported)
INFOUSA INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-19598
(State or other jurisdiction (Commission File Number)
of incorporation)
5711 South 86th Circle, Omaha, Nebraska 68127
(Address of principal executive offices) (Zip Code)
402/593-4500
(Registrants's telephone number, including area code)
Item 4. Change in Registrant's Certifying Accountant
On October 12, 1998, the Company engaged the services of KPMG Peat
Marwick (the "New Accountants") to serve as the Company's principal accountants
for the current fiscal year. In September, 1998, the Company engaged the New
Accountants for purposes of allocating the cost of the acquisition to certain
assets and liabilities acquired by the Company from JAMI Marketing in May 1998.
This project has not yet been completed. The New Accountants have expressed in
writing their preliminary view that there should not be a material charge for in
process research and development costs as a result of the JAMI Marketing
transaction. PricewaterhouseCoopers LLP, the Company's former accountants, were
not consulted by the Company regarding the allocation of the acquisition costs.
PricewaterhouseCoopers had resigned as the Company's independent accountants
effective October 1, 1998, due to its inability to satisfy the "independence"
requirement. PricewaterhouseCoopers' resignation was required because of the
promotion of the son-in-law of one of the Company's directors to an officer
position at PricewaterhouseCoopers' Omaha office.
During its last two fiscal years and through October 1, 1998, the
Company has not consulted with the New Accountants on either the application of
accounting principles to
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a specified transaction, or any matter that was the subject of a reportable
event discussed above.
Pursuant to Item 304(a)(2)(D), a copy of this Form 8-k has been
provided to the New Accountants and the Company has requested that the New
Accountants review the disclosure contained herein. The New Accountants have
been given the opportunity to furnish the Company with a letter addressed to the
SEC containing any new information, clarification of the Company's expression of
its views, or the respects in which it does not agree with the statements made
by the Company. No such letter has been provided by the New Accountants.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release Dated October 12, 1998
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.
Date: October 12, 1998
/s/ Vinod Gupta
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Vinod Gupta
Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit Number Description
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99.1 Press Release Date October 12, 1998
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EXHIBIT 99.1
For Immediate Release
Monday, October 12, 1998
Contact:
Shelly Vaughn - Director, Investor Relations
Phone: (402) 596-8929
Fax (402) 537-6197
E-Mail: [email protected]
INFOUSA INC. ANNOUNCES KPMG PEAT MARWICK
AS INDEPENDENT ACCOUNTANT
(Omaha, NE) infoUSA Inc. (Nasdaq: ABIIA/ABIIB), FORMERLY NAMED American Business
Information, Inc. announced today that KPMG Peat Markwick LLP had been selected
as its independent public accountants, following the resignation of
PricewaterhouseCoopers LLP due to its inability to satisfy auditor
"independence" requirements. PricewaterhouseCoopers' resignation was required
because of the promotion of the son-in-law of infoUSA director George Kubat to
an officer position at PricewaterhouseCoopers' Omaha office.
"We are pleased to have KPMG Peat Marwick serve as the Company's
independent public accountants," said infoUSA CEO Vindo Gupta. "We appreciate
PricewaterhouseCoopers' service to the Company over the past seven years, and
were disappointed that the accounting profession's statutory independence rules
required PricewaterhouseCoopers' resignation. There were no accounting
disagreements between the Company and PricewaterhouseCoopers. We are happy that
a firm of KPMG's stature and with its resources will be working with the
Company."
infoUSA, www.infoUSA.com, formerly named American Business Information, is the
leading provider of business and consumer marketing information products and
data processing services in the United States and Canada. Nearly two million
customers use the products and services for direct marketing, telemarketing,
marketing planning, lead generation, sales planning, customer analysis and
credit reference. Founded in 1972, the company headquarters are located at 5711
South 86th Circle, P.O. Box 27347, Omaha, Nebraska, 68127-0347. infoUSA Inc. can
be contacted at (402) 593-4500.
