Geoff Kerr, USWeb Corporation, 408-987-3260 or
[email protected]
USWeb Confirms Schedule for Completion of Domestic Acquisition Program
Domestic professional services acquisitions expected to end in December of 1998
SANTA CLARA, Calif. - September 21, 1998 - USWeb Corporation (Nasdaq: USWB) today announced that on the heels of completing the acquisition of 31 U.S.-based companies since January 1997, the tactical phase of the company's U.S. acquisition program will be completed near the end of 1998. By then, the merger of USWeb and CKS Group, Inc. to form "Reinvent Communications" is expected to be completed. Reinvent Communications' growth strategy will focus primarily on organic expansion and internal practice development. The company will continue to pursue occasional strategic acquisitions to complement company-wide initiatives and to pursue international expansion through intrinsic growth and its model-driven acquisition program.
"We're extremely proud to be able to say that our personnel recruiting and acquisition programs have successfully integrated 1200+ people in 34 consulting offices across four countries, all with a common vision of the future," said Joe Firmage, chairman & CEO of USWeb. "The merger with CKS Group is the exclamation point on our professional services acquisitions. While there remain selected strategic vertical and technical acquisitions we expect to make in the future, the domestic program is largely done."
Since January 1997, USWeb has acquired and integrated professional services companies in the U.S., Europe and the United Kingdom. As part of the integration process, the staffs of each company become an integral part of USWeb. A comprehensive 310-step integration program is deployed following each acquisition, which takes between three and six months to complete, following closure. The backbone to integrating each acquisition is a state-of-the-art knowledge management system comprised of a comprehensive engagement registry, a professional skills directory, methodology, technology, document and presentation libraries, and a real-time threaded discussion system. Clients of the firm gain the expertise and experience of over 1200 professionals through 16 global practices covering both vertical and functional methodologies to meet their business requirements. To learn more about USWeb's practices, visit http://www.usweb.com/services/#practices
Company Background
USWeb Corporation is a leading strategic Internet services firm helping clients achieve their revenue, profit, market share, and customer loyalty objectives through Internet strategies and systems. USWeb partners with clients in three core disciplines: USWeb Strategies helps clients develop breakthrough Internet business models through business strategy consulting and needs analysis. USWeb Technologies provides expert application and systems engineering services to help clients build and deploy solutions that streamline enterprise business processes. USWeb Studio delivers award-winning graphic and multimedia design, precision user experience planning, and pioneering audience development services.
USWeb Corporation works with a diverse and prominent portfolio of clients, from Fortune 100 corporations to medium-size organizations. The Company is headquartered at the USWeb Internet Strategy and Solutions Center in Santa Clara, California. Additional information about USWeb Corporation is available by calling 408-987-3200.
This press release contains "forward-looking statements" (as defined under securities law) regarding USWeb Corporation's acquisition and growth strategies. The number, timing, and nature of transactions actually consummated by the Company in the future may differ materially from that currently anticipated. Factors that may affect such transactions include the ability to identify suitable candidates and acquire them on acceptable terms and the ability to successfully implement the Company's other strategies. Acquisitions involve a number of risks, including the potential for adverse effects on the Company's operating results, the diversion of management attention, the assumption of potential disputes, stock dilution or reductions of cash holdings, and other factors. There can also be no assurance that the proposed merger with CKS Group, Inc. will be completed on the intended schedule, or at all. For additional information about factors that could affect the business of USWeb, see the documents filed with the United States Securities and Exchange Commission.