Tuesday July 27, 9:17 am Eastern Time|
Company Press Release
Company Agrees To Acquire Computing Concepts -
Gains Presence in NYC and Northeast
CHICAGO--(BUSINESS WIRE)--July 27, 1999--Nucleus, Inc. (NASDAQ OTC-BB: NCLS), today announced that it had
entered into a definitive agreement to acquire Computing Concepts, Inc. (CCI), a premier provider of Information Technology
services based in East Rutherford, NJ. The agreement is contingent upon financing and is expected to close in the third quarter
of this year. Terms of the transaction were not disclosed. The acquisition reinforces Nucleus' commitment to build its expertise
in the e-solutions services space through the acquisition of talent rich, industry leading organizations.
CCI, founded in 1989, is a leading full service value added integrator to middle market companies in the NYC metropolitan
area. CCI offers a wide range of services including help desk, staff augmentation in most technical areas, training and network
design, implementation, hardware and software. CCI provides clients with true system integration from start to finish by offering
needs consultation, installation, integration, connectivity, networking, application and training solutions, and ongoing service and
Based in East Rutherford, NJ, CCI has a staff of 100 and also manages operations of the Meadowlands Learning Center, a
state of the art facility providing customized and comprehensive IT course offerings for end users and technical personnel.
CCI had revenues of $29.9 million and $46.2 million in 1997 and 1998, respectively, with revenues of approximately $26.5
million for the five months ended May 31, 1999.
''CCI excels in providing the full spectrum of information services that middle market and high growth businesses currently
demand,'' said Nucleus President and Chief Executive Officer John Paulsen. ''Their ability to provide a single solution consisting
of consulting, system recommendation, installation, integration and ongoing service fits perfectly within the Nucleus business
model. The superior strengths of their organization will give us an immediate presence in the Northeast and will position us to
quickly grow throughout the entire region.''
''By joining Nucleus, we can now deliver a comprehensive and complete solution to our clients,'' said Mario Giacone, Jr.,
President of CCI. ''The Nucleus model will enable us to accelerate our movement from a service to a solution based
application, while at the same time giving us the opportunity to be instrumental in building a larger, national organization.''
CCI's clients are in a variety of industries including financial services, professional services, manufacturing and pharmaceutical.
CCI is the latest in a series of IT service firm acquisitions by Nucleus, and brings the total number of acquisitions to five since
April 15, 1999. CCI follows the announcements of Innovative Technology Solutions, Young Data Systems, EDW Computers
and Comp pro Computers.
Nucleus, based in Chicago, is an IT professional services organization that delivers Internet based technology solutions.
Nucleus' goal is to create competitive advantage for clients by leveraging Internet-based technology to improve and simplify
business processes, enhance services, lower total cost of technology ownership and shorten product and service cycle times.
With this acquisition, Nucleus will have eight (8) offices and one hundred fifty (150) employees.
The information contained in this press release, including any ''forward-looking statements'' within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in
conjunction with the Company's annual report on form 10-KSB and other publicly available information regarding the
Company, copies of which are available from the Company upon request. Such publicly available information sets forth many
risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that
are unpredictable and outside of the influence and/or control of the Company.
Ted Hartley, 312/683-9000