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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) December 10, 1997
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ScanSource, Inc.
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(Exact Name of Registrant as Specified in Its Charter)
South Carolina 1-12842 57-0965380
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(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification)
6 Logue Court, Suite G, Greenville, SC 29615
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(Address, Including Zip Code of Principal Executive Offices)
(803) 288-2432
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On December 10, 1997, ScanSource, Inc., announced that it had signed a
letter of intent to acquire POS ProVisions (USA) and POS ProVisions, Ltd.
(Canada). A copy of the news release is attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
Exhibit 99, News Release, dated December 10, 1997.
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.
SCANSOURCE, INC.
Date: December 10, 1997 By: /s/ JEFFERY A. BRYSON
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Jeffery A. Bryson
Chief Financial Officer
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Exhibit 99
(BW) (SCANSOURCE) (SCSC) ScanSource To Acquire POS ProVisions, USA and POS
ProVisions, Canada
Business Editors
GREENVILLE, S.C. -- (BUSINESS WIRE) -- Dec. 10, 1997 -- ScanSource Inc.
(NASDAQ: SCSC) an international distributor of specialty technology products,
announced today that it has signed a letter of intent to acquire two wholesale
distributors of point of sale (POS) products: POS ProVisions (USA) and POS
ProVisions, Ltd. (Canada) (collectively "POS ProVisions").
With sales offices in Bellingham, Wash.; Toronto, Ontario; and Vancouver,
British Columbia, POS ProVision's sales are at an annual run rate of
approximately $12 million (US dollars). The acquisitions will be accounted for
as pooling of interests. ScanScource expects to issue approximately 221,000
shares to complete the transactions which are scheduled to close in January
1998.
"We are pleased to be acquiring an experienced sales force, established
customer base and strong management team to jump start our entry into the Canada
market," said Mike Baur, ScanSource president. "After the merger, Greg Vance
and Bruce Bean, owners of POS ProVisions, will be joining ScanSource as
president of the Canada division and Washington sales office manager,
respectively."
"We look forward to combining forces with ScanSource, the POS industry's
leading distributor. I'm confident that the merged company will offer both POS
ProVisions and ScanSource customers more value-added services than before," said
Greg Vance, POS ProVisions president.
ScanSource Inc. is an international value-added distributor of specialty
technologies, including automatic identification (autoID) and point-of-sale
(POS) products, and -- through its Catalyst Telecom division -- telephony
products. Serving only the value added reseller (VAR), ScanSource is committed
to growing specialty technology markets by strengthening and enlarging the VAR
channel. ScanSource's commitment to VARs includes offering a broad product
selection, competitive pricing, fast delivery, technical support, sales
training, customer financing and qualified leads. For more information, contact
ScanSource Inc., 6 Logue Court, Greenville, S.C., 29615, phone 864/288-2432.
The toll free sales telephone number is 800/944-2432; Web address:
www.scansource.com.
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