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
APRIL 13, 1995
(Date of earliest event reported)
TECH-SYM CORPORATION
(Exact Name of Registrant as Specified in Charter)
NEVADA 74-1509818
(State or Other Jurisdiction of (IRS Employer Identification No.)
Incorporation)
1-4371
(Commission File Number)
10500 Westoffice Drive
Houston, Texas 77042
(Address of Principal Executive Office)
(713) 785-7790
(Registrant's telephone number, including area code)
<PAGE>
ITEM 5. OTHER EVENTS
The information set forth in the press release of the registrant dated
April 13, 1995, which is filed as an exhibit hereto, is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
The following exhibits are filed herewith:
99(a) -- Press release issued by the registrant dated April 13, 1995.
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.
TECH-SYM CORPORATION
By: J. RANKIN TIPPINS
Name: J. Rankin Tippins
Title: General Counsel and Secretary
April 13, 1995
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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99(a) -- Press release issued by the registrant dated April 13, 1995.
PRESS RELEASE
TECH-SYM TO ACQUIRE COGNISEIS
HOUSTON, TEXAS, April 13, 1995 -- Tech-Sym Corporation (NYSE:TSY) today
announced that it has signed a letter of intent to acquire all the outstanding
stock of CogniSeis Development, Inc. ("CogniSeis") in exchange for a total of
$20 million in Tech-Sym stock and cash. At least 51% of the consideration will
be in the form of Tech-Sym common stock, which will be registered under the
Securities and Exchange Act of 1933. The proposed transaction is subject to a
due diligence review, negotiation and execution of a definitive agreement,
receipt of certain regulatory approvals, approval by the boards of directors of
both parties, and approval by the shareholders of CogniSeis.
CogniSeis, a privately held company based in Houston, develops, markets
and licenses seismic processing and geologic interpretation systems consisting
of proprietary software installed on computers with specialized peripheral
equipment. CogniSeis' software is used by geophysicists for processing and
analyzing seismic data to determine potential hydrocarbon locations. It is also
used by geologists for interpretation of seismic data and well logs and for
structural modeling. During its latest fiscal year ending July 31, 1994,
CogniSeis had revenues exceeding $15 million. The affiliation of CogniSeis with
Tech-Sym's Syntron, Inc., subsidiary, a manufacturer of seismic exploration
equipment, is expected to accelerate the efforts of both companies to provide
greater capabilities for real time interpretation used for reservoir management
and for processing seismic data in the field.
Wendell W. Gamel, Chairman and President of Tech-Sym, commented, "The
addition of CogniSeis is another step toward our strategy of providing a full
range of seismic exploration products and services to our customers. The
convergence of the proprietary hardware and software technologies will enable
our customers to gain an edge over their competitors by reducing elapsed time
between seismic acquisition and final processed data. The acquisition of
CogniSeis will also enhance our capabilities in the area of reservoir
management, a market that is expected to grow over the next few years."
Tech-Sym Corporation is a diversified electronics engineering and
manufacturing company primarily involved in the design, development, and
production of products used for communications, seismic exploration for
hydrocarbons, defense systems, and environmental monitoring.
# # #
For further information, please contact:
Wendell W. Gamel Robert P. Jones/Adam Steinberg
Chairman and President Lee Foley - Media Relations
Tech-Sym Corporation Morgen-Walke Associates
10500 Westoffice Drive 380 Lexington Avenue, 50th Floor
Houston, Texas 77042 New York, NY 10168
(713) 785-7790 (212) 850-5600
