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Home arrow News arrow WIN Member News arrow 2008-9-3 Park City Group, Inc. and Prescient (Jane Hoffer, President & COO) agree to merge
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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, 2008Park 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.

 

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