***Interesting IPO coming up this week---->PFSW , (underwriter H&Q), is a subsidiary of Daisytek International Corp. (DZTK)......PFSW is a provider of transaction management services, plans to offer 3.1 m
million shares, and sees the stock pricing between $12 and $14 apiece...
hoovershbn.newsalert.com
**interesting to note that DZTK will retain 82% of PFSW , and since
it is in such a hot sector should open much higher say at $25-$40.
..... & DZTK is currently selling for only $17 bucks a share! :-)
About PFSW:http://www.hoovers.com/co/capsule/6/0,2163,61396,00.html
PFSweb is the Internet's billing department. The firm provides transaction management services for electronic and traditional commerce, offering retailers and e-tailers order management, customer support, billing services, and distribution. Its approximately 30 clients (including American Eagle Outfitters, Hewlett-Packard, Nokia, and several divisions of IBM) sell apparel, sporting goods, computer products, and consumer electronics. Although it has a high-tech mission, PFSweb has a low-tech past as a subsidiary of printer products maker Daisytek International, which established the firm in 1996 as Priority Fulfillment Services. Daisytek will retain about 80% of PFSweb; it plans eventually to spin off the rest.
Top Competitors
National Data, SilkRoute Ventures, Sterling Commerce, ASDS, CYBS
OUR RELATIONSHIP WITH DAISYTEK (DZTK)
We are currently a subsidiary of Daisytek International Corporation, one of
the world's largest wholesale distributors of non-paper consumable computer
supplies and professional video and audio tape products. Our business unit was
formed in 1991 to leverage Daisytek's core competencies in customer service,
order management, product fulfillment and distribution. Since 1996, the
operations of our business unit have been primarily focused in several Daisytek
subsidiaries operating collectively as Priority Fulfillment Services, Inc.
("PFS"). After the completion of this offering, Daisytek will own approximately
82.2% of the outstanding shares of our common stock, or approximately 80.1% if
the underwriters exercise their over-allotment option in full. Daisytek has
announced that it plans to effect the complete separation of PFSweb from
Daisytek sometime in mid-2000 (and within one year of the closing of this
offering) through a pro rata distribution to its common stockholders of all of
the shares of our common stock which Daisytek then holds (which is also known as
a "spin-off"). There are, however, various conditions to the completion of the
spin-off, and we cannot assure you as to whether or when it will occur.
Upon completion of this offering we will enter into a number of agreements
with Daisytek relating to our business and our proposed spin-off from Daisytek.
Under these agreements, Daisytek will continue to provide us with certain
administrative services and facilities, and we will provide Daisytek with
transaction management services for its U.S. wholesale consumable computer
supplies business. See "Certain Transactions" and "Risk Factors -- Risks Related
to Daisytek".
We were incorporated in Delaware in 1999 to be, upon completion of this
offering, the parent holding company for PFS. Our principal executive offices
are located at 500 North Central Expressway, Plano, Texas 75074, and our
telephone number is 972-881-2900.
We maintain a Web site at www.pfsweb.com, and Daisytek maintains a Web site
at www.daisytek.com. Information contained on these Web sites does not
constitute part of this prospectus and is not incorporated by reference in this
prospectus.
**from the filing:
hoovers.com
DZTK might just be a bargin here....
:-)
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