Volt Information Sciences, Inc. to Sell VMS Software and Related Assets of ProcureStaff Technologies, Ltd. to IQNavigator
08 Januar 2014 - 2:30PM
Business Wire
Volt Information Sciences, Inc. (OTC: VISI) today announced that
it has signed a definitive agreement with IQNavigator to sell its
vendor management system (“VMS”) software and related assets of its
wholly-owned VMS subsidiary ProcureStaff Technologies, Ltd.
“This sale reduces Volt’s investment in a non-core business
while enhancing our world-class staffing services and managed
services provider businesses as we reshape our business to generate
greater long-term shareholder value,” said Ron
Kochman, President and Chief Executive Officer of Volt
Information Sciences, Inc. “Software companies with a strong
emphasis on VMS software are making significant investments in
developing functionality well beyond historical levels. While Volt
was an early VMS pioneer, continuing to make increasing investments
in VMS software development to compete in a field where VMS-focused
companies like IQNavigator now provide outstanding software is no
longer core to our business.”
“A key part of this agreement is that IQNavigator will operate
ProcureStaff’s VMS software so there will be no disruption to our
existing customers. Moreover, those customers will be able to
easily transition to IQNavigator, a VMS software provider known for
its outstanding reputation and track record,” Kochman
concluded.
The cash proceeds of the transaction are not material, nor are
the gain on sale or related restructuring costs. The sale is
expected to be completed in early 2014 and is subject to customary
closing conditions.
About Volt Information Sciences, Inc.
Volt Information Sciences, Inc. is a leading provider of global
infrastructure solutions in technology, information services and
staffing acquisition for its FORTUNE 100 customer base. Operating
through an international network of servicing locations, the
Staffing Services Segment fulfills IT, engineering, administrative,
and industrial workforce requirements of its customers, for
professional search and temporary/contingent personnel as well as
managed services programs. Technology infrastructure services
include telecommunications engineering, construction, and
installation; and IT managed services and maintenance.
Information-based services are primarily directory assistance,
operator services, database management, and directory printing.
Visit www.volt.com.
Forward-Looking Statements
This press release contains forward-looking statements. Words
such as "may," "will," "should," "likely," "could," "seek,"
"believe," "expect," "plan," "anticipate," "estimate,"
"optimistic," "confident," "project," "intend," "strategy,"
"designed to," and similar expressions are intended to identify
forward-looking statements about the Company's results of
operations, future plans, objectives, performance, intentions and
expectations. Forward-looking statements are subject to a number of
known and unknown risks, including, among others, the timing of
filing the Company's financial statements with the Securities and
Exchange Commission, general economic, competitive and other
business conditions, the degree and timing of customer utilization
and rate of renewals of contracts with the Company, and the degree
of success of business improvement initiatives, that could cause
actual results, performance and achievements to differ materially
from those described or implied in the forward-looking statements.
Information concerning these and other factors that could cause
actual results to differ materially from those in the
forward-looking statements are contained in Company reports filed
with the Securities and Exchange Commission.
Volt Information Sciences, Inc.James Whitney,
212-704-7921voltinvest@volt.com
Volt Information Sciences (AMEX:VISI)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Volt Information Sciences (AMEX:VISI)
Historical Stock Chart
Von Jul 2023 bis Jul 2024