Business Services Industry
Resource Finance Group Ltd. and Digital Sciences Inc. announce effectiveness of Joint Proxy Statement-Prospectus
Business Wire, Feb 13, 1996
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Feb. 13, 1996--Effective Monday, Resource Finance Group Ltd. (NASDAQ:RFGP) and Digital Sciences Inc. (NASDAQ:DISI) jointly announced that their Joint Proxy Statement-Prospectus was released for mailing on Feb. 9, 1996.
The two companies previously announced that they had entered into a definitive agreement to merge the two companies into a new Delaware holding corporation named Intelligent Decision Systems Inc. The merger will require the approval of Resource Finance Group Ltd. and Digital Sciences Inc. shareholders. Resource Finance Group Ltd. and Digital Sciences Inc. will each hold special meetings of their shareholders on March 22, 1996, to obtain the required approval.
Related Results
The objective of the proposed merger, according to David A. Horowitz, president and chief executive officer of Digital Sciences Inc. and Mark A. Babin, president and CEO of Resource Finance Group Ltd., is to optimize the returns from a common project, the "Vision" computerized business management system.
Sales of the Vision system commenced in 1995. Developed in conjunction with National Purchasing Corp. ("HPSI") of Irvine, Calif., the Vision system will initially be marketed to the 3,000 health care providers who belong to HPSI's group purchasing network.
CONTACT: Resource Finance Group Ltd., Grand Rapids
Mark A. Babin, 616/285-5830
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