-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OJpuYnlFdWXznAgxAkN/zZ0oVIA3C4pAXNi3v0ZY6VXI/N0y0B6Emo6vCGnLfX4R W8jRGPafm0kJcDkU8ZvBNA== 0000893816-04-000070.txt : 20040901 0000893816-04-000070.hdr.sgml : 20040901 20040901172337 ACCESSION NUMBER: 0000893816-04-000070 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040901 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20040901 DATE AS OF CHANGE: 20040901 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFOCROSSING INC CENTRAL INDEX KEY: 0000893816 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 133252333 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20824 FILM NUMBER: 041011793 BUSINESS ADDRESS: STREET 1: 2 CHRISTIE HEIGHTS STREET CITY: LEONIA STATE: NJ ZIP: 07605 BUSINESS PHONE: 2018404700 MAIL ADDRESS: STREET 1: 2 CHRISTIE HEIGHTS STREET CITY: LEONIA STATE: NJ ZIP: 07605 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER OUTSOURCING SERVICES INC DATE OF NAME CHANGE: 19930328 8-K 1 k8_mdcr.txt ANNOUNCING MATERIAL AGREEMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) September 1, 2004 ----------------- INFOCROSSING, INC. ------------------------------------------------------ (Exact Name of Registrant as Specified in Its Charter) DELAWARE 0-20824 13-3252333 ------------------------------- ----------- ------------------ (State or other Jurisdiction of Commission (IRS Employer Incorporation or Organization) File Number Identification No.) 2 Christie Heights Street Leonia, New Jersey 07605 ------------------------------------------------------ (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (201) 840-4700 -------------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On September 1, 2004, Infocrossing, Inc. (the "Company") entered into a Purchase and Sale Agreement (the "Purchase Agreement") with Verizon Data Services Inc. ("Seller"), pursuant to which the Company will acquire from Seller for $43.5 million in cash a segment of the healthcare business of Verizon Information Technologies Inc., which is a wholly owned subsidiary of Seller and which provides managed care, Medicare and Medicaid processing services. The transaction contemplated by the Purchase Agreement is expected to be completed within 30 days. The Company plans to pay the purchase price principally with cash on hand and the balance with funds borrowed under an existing line of credit. Prior to the execution of the Purchase Agreement, no material relationship existed between the Company or its affiliates and Seller. The press release announcing the execution of the Purchase Agreement is filed as Exhibit 99.1 to this report and is incorporated herein by reference. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits 99.1 Press Release of the Company, dated September 1, 2004. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INFOCROSSING, INC. Date: September 1, 2004 By: /s/ ZACH LONSTEIN ---------------------------------- Zach Lonstein Chairman of the Board of Directors and Chief Executive Officer EX-99 2 x99_mdcr.txt PRESS RELEASE EXHIBIT 99.1 INFOCROSSING LOGO President & COO SVP Finance Patrick A. Dolan William McHale Infocrossing, Inc. Infocrossing, Inc. 714-986-8429 201-840-4732 pdolan@infocrossing.com wmchale@infocrossing.com Media Relations Investor Relations Laura Turtzer Matthew Hayden Infocrossing, Inc. Hayden Communications, Inc. 714-986-8397 (760) 487-1137 lturtzer@infocrossing.com INFOCROSSING TO ACQUIRE SEGMENT OF VERIZON INFORMATION TECHNOLOGIES INC.'S HEALTHCARE BUSINESS EXPANDS COMPANY'S POSITION IN THE BPO-HEALTHCARE SECTOR LEONIA, NJ, SEPTEMBER 1, 2004 - INFOCROSSING, INC. (NASDAQ: IFOX), a provider of selective IT outsourcing and business processing solutions, announced today that it has entered into a definitive agreement to acquire a segment of the healthcare processing business of Verizon Information Technologies Inc. (VITI) that provides managed care, Medicare, and Medicaid processing services. VITI is a subsidiary of Verizon Communications Inc. (NYSE: VZ). The transaction is expected to close within thirty days. The Company plans to pay the purchase price of $43.5 million in cash principally with cash on hand and the balance with funds borrowed under an existing line of credit. "This transaction aligns well with Infocrossing's growth strategy and further increases our reach in the healthcare market," stated Patrick Dolan, President and Chief Operating Officer of the Company. "This step will expand the Company's position in the BPO-Healthcare sector. Furthermore, the acquisition underscores the Company's commitment to growth by complementing Infocrossing's existing healthcare customer base and leveraging our national infrastructure to provide robust, highly reliable, secure and cost effective IT capabilities," concluded Mr. Dolan. "The acquisition and integration of VITI will follow the same approach as we had used in the acquisition and integration of AmQUEST, Inc. and ITO Acquisition Corporation, doing business as Systems Management Specialists," commented Zach Lonstein, Infocrossing's Chairman and Chief Executive Officer. "Consistent with these prior transactions, we expect the acquisition of this portion of VITI to be accretive on an earnings per share basis over the twelve months after the closing," concluded Mr. Lonstein. ABOUT INFOCROSSING, INC. (http://www.infocrossing.com) --------------------------- Infocrossing, Inc. (IFOX) is a provider of selective IT outsourcing services, delivering the computing platforms and proprietary systems that enable companies, regardless of industry, to process data and share information within their business, and between their customers, suppliers and distribution channels. Leading companies leverage Infocrossing's robust computing infrastructure, skilled technical team, and process-driven operations to reduce costs and improve service delivery by outsourcing the operation of mainframes, mid-range, open system servers, networks and business processes to Infocrossing. SAFE HARBOR FOR FORWARD-LOOKING AND CAUTIONARY STATEMENTS This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. As such, final results could differ from estimates or expectations due to risks and uncertainties, including but not limited to: incomplete or preliminary information; changes in government regulations and policies; continued acceptance of the Company's products and services in the marketplace; competitive factors; technological changes; the Company's dependence upon third-party suppliers; intellectual property rights; difficulties with the integration of ITO Acquisition Corporation d/b/a Systems Management Specialists and VITI; and other risks. For any of these factors, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended. # # # -----END PRIVACY-ENHANCED MESSAGE-----