AccuStaff Receives Hart-Scott-Rodino Clearance OnSale of Commercial Staffing Business to Randstad U.S., L.P.; Name Changeto Modis Professional Services to Become Effective On October 1, 1998
September 16, 1998 09:52 AM
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Sept. 16, 1998--AccuStaff Incorporated ASI today announced that it has received clearance under the Hart-Scott-Rodino Act in connection with the previously announced sale of Strategix, its commercial staffing business, to Randstad U.S., L.P., the U.S. operating company of Randstad Holding nv, an international staffing company based in The Netherlands. The sale, for $850 million in cash, is scheduled to close on September 30, 1998. Thereafter the Company will focus exclusively on providing information technology consulting and professional services worldwide. AccuStaff also announced today that its name change to Modis Professional Services, Inc. will become effective on October 1, 1998. On that date, the Company's common stock will begin trading on the New York Stock Exchange under the symbol "MPS." Shareholders approved the name change at a special meeting held on August 14, 1998. The Company is a global provider of business services, including consulting, outsourcing, outplacement, training, and strategic staffing services, to the Fortune 1000 and other leading businesses. Headquartered in Jacksonville, Florida, the Company has offices in the United States, Canada, the United Kingdom, Continental Europe, and Latin America. For more information about AccuStaff or Modis, please visit the following web sites: www.accustaff.com or www.modisit.com. Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. The Company's actual results may differ materially from the results anticipated in these forward-looking statements as a result of certain factors set forth under Risk Factors and elsewhere in the Company's reports on Forms 10-K, 10-Q and 8-K made under the Securities Exchange Act of 1934. For instance, the Company's results of operations may differ materially from those anticipated in the forward-looking statements due to, among other things: the Company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the general level of economic activity in the Company's markets; increased price competition; and the continued availability of qualified temporary personnel -- particularly in the information technology and other professional segments of the Company's businesses. In addition, the market price of the company's stock may from time to time be significantly volatile as a result of, among other things: the Company's operating results; the operating results of other temporary staffing companies; and changes in the performance of the stock market in general. |
