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Article: IMR Acquires Visual Systems Development Corporation.
- Article from:
- PR Newswire
- Article date:
- October 2, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CLEARWATER, Fla., Oct. 2 /PRNewswire/ -- Information Management Resources, Inc. ("IMR" or the "Company") (Nasdaq: IMRS), a leading global provider of IT services, announced today that it has acquired Visual Systems Development Corporation, an information technology company based in Toronto, Canada which specializes in client/server and internet application development. Visual Systems' revenue for the year ended September 30, 1997 was approximately US$ 12.2 million. The purchase price paid by IMR was US$ 5.5 million in cash and 400,000 shares of IMR common stock with the potential for additional payments in the form of IMR stock, provided that Visual Systems achieves ...