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Park City Group, Inc. and Prescient (Jane Hoffer, President &
COO) agree to merge
Combined Companies Will Provide One of the Most Comprehensive Inventory
and Labor Management Solutions for Suppliers and Retailers
Park City Group’s Pro-Forma Revenue Expected to Triple
PARK CITY,
UT and WEST CHESTER, PA – September 3, 2008 – Park City Group, Inc. (OTCBB: PCYG) and Prescient Applied Intelligence, Inc.
(OTCBB: PPID) today
announced the execution of an Agreement and Plan of Merger. Under the terms of the Agreement, Prescient will merge with a newly
formed subsidiary of Park City Group, becoming a wholly owned operating
subsidiary. Simultaneous with the execution
of the Agreement, Park City Group acquired, from two Prescient stockholders in
a private transaction, over 43% of Prescient’s Series E Preferred Stock, and Randall K. Fields, Chairman and Chief Executive Officer of
Park City Group, was appointed Chief Executive Officer of Prescient. Prescient’s current Board of Directors and
executive management team will remain in office until completion of the merger.
The merger is subject to customary terms and conditions, including
Prescient stockholder approval.
Read full press release
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