UNITED STATES
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 (Date of earliest event reported) April 1, 1998
Micro-Integration Corporation
(Exact Name of Registrant as Specified in Charter)
Delaware 0000-23710 06-1204847
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
One Science Park, Frostburg, Maryland 21532
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (301) 689-0800
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Item 5. Other Events.
On April 1, 1998, Micro-Integration Corp. acquired CompSource, Inc.
in an exchange of shares accounted for as a purchase.
CompSource offers companies and businesses in the eastern- and
central-Pennsylvania area business networking and software
solutions. The company is a leading reseller and master
Developer of State of the Art's MAS-90 Accounting Software.
Through its SCATA division, the company offers technology services
with special expertise in data collection systems for water and
gas companies.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release dated April 7, 1998 of Micro-Integration
Corp.
<PAGE>
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.
Micro-Integration Corporation
Date: April 15, 1998 By: /s/ Terry D. Frost
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Terry D. Frost
Chief Financial Officer
News Release
Contact: John Parsons
Micro-Integration Corp.
1-800-600-6448 ext. 820
Micro-Integration Corp. Acquires
Pennsylvania Computer Services Company
FROSTBURG, MD ( April 7, 1998 ( Micro-Integration Corp. (MI) (NASDAQ: MINT)
today announced that it has acquired CompSource Inc., based in West Reading,
Pennsylvania, effective April 1, 1998. CompSource was acquired in an
exchange of shares accounted for as a purchase.
CompSource, through its MicroAge Computer Center location, offers companies
and businesses in the eastern- and central-Pennsylvania area business
networking and software solutions. The company is a leading reseller and
Master Developer of State of the Art's MAS-90 Accounting Software. Through
its SCATA division, the company offers technology services with special
expertise in data collection systems for water and gas companies.
Approximately 35 percent of the CompSource 1997 fiscal year revenue of
$3.3 million was from the sale of services.
"Combining the resources of CompSource and MI will benefit the entire MI
family of companies and their customers," said John Parsons, MI Chairman and
CEO, "especially customers looking to replace legacy systems with year
2000-compliant networked systems. CompSource's high-quality staff will be a
resource other MI companies can use to offer their clients and prospects a
stronger line of network and computer services, including year 2000 compliance
resources. CompSource can look to MI for sales and technical support help as
well." CompSource employs highly-qualified technicians skilled in MAS-90,
network design and implementation, UNIX and Microsoft system administration,
custom application and database programming, and computer repair and
maintenance.
Parsons continued, "The CompSource acquisition, our fourth in eighteen
months, is another step in our strategy to expand our computer services
business. It expands our reach further into Pennsylvania, strengthens our
technology services offering company-wide and demonstrates our commitment to
and progress towards becoming a major technology services and network systems
provider in the Mid-Atlantic region. We now have a presence that stretches
from the Indiana/Ohio border nearly to Philadelphia, and we are continuing to
have discussions with other acquisition candidates in the region."
Except for historical information, the matters discussed in this news release
are forward-looking statements that are subject to certain risks and
uncertainties that could cause the actual results to differ materially from
those projected. Risks and uncertainties include the Company's ability to
operate profitably in the future, the Company's ability to continue to acquire
targeted technology services businesses and to integrate acquired businesses
into the Company, the financial effect on the Company of any acquired
businesses, the timely development and acceptance of new products, and price
competition. The Company assumes no obligation to update the information in
this release.
Micro-Integration Corp. offers consultation and systems and network
integration services to small- and medium-sized organizations that need to
use information technology as a strategic business tool. MI specializes in
providing high-quality services that help customers take advantage of
distributed computing and client-server and network-based systems.
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