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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: nicewatch who wrote (10883)	4/9/1998 8:44:00 AM
From: Patrese	Read Replies (2) \| Respond to of 13949

Good Morning, Highlights of fax I received: CBSL will merge with Claremont Technology Group for approx 7.2 million shares recently valued at $285 million. Claremont brings twelve month trailing twelve month revenues of $81 million and 780 employees worldwide. Claremont Technology has been growing revenues at a compound annual rate of 40% over the past 5 years and currently has more than 100 clients(incl Lucent, Bank One, Microsoft, Pacific Corp and Weyerhauser) and higher average billing rates. There is very little client overlap. Claremont provides a full life-cycle of IT services to vertical industry markets incl manufacturing, communications, financial services and utilities as well as the public sector. Senior mgmt will remain with the combined company. Under the terms of the agreement, and subject to the Hart-Scott-Rodino waiting period the transaction will completed in the third quarter and will be accretive. It expects the transaction will be accounted for as a pooling of interests and is intended to qualify as a tax free reorganization. Conference call at 10am eastern time at 1-888-243-0810. Best Wishes, Patricia