EXHIBIT 99.1
[TECH TEAM LOGO] NEWSRELEASE
NASDAQ/NM -- "TEAM"
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FOR IMMEDIATE RELEASE, Friday, May 14, 2004
TECHTEAM GLOBAL ANNOUNCES ACQUISITION OF ADVANCED NETWORK ENGINEERING IN BELGIUM
ACQUISITION WILL GREATLY EXPAND TECHTEAM'S EUROPEAN SYSTEMS INTEGRATION BUSINESS
SEGMENT AND EXTEND THE COMPANY'S EUROPEAN PRESENCE
SOUTHFIELD, MICHIGAN and BRUSSELS, BELGIUM, May 14, 2004... TECHTEAM GLOBAL
NV/SA, a wholly owned subsidiary of TECHTEAM GLOBAL, INC., (Nasdaq: TEAM), a
global provider of information technology and business process outsourcing
services, today announced that it has purchased all of the outstanding equity of
ADVANCED NETWORK ENGINEERING ("A.N.E."), effective as of May 13, 2004. A.N.E. is
a diversified information technology ("IT") services and solutions company
headquartered in Gent, Belgium, providing software application, network, and
systems integration services to various global, pan-European, and Belgian
customers. Founded in 1996, A.N.E. reported revenue of E4.60 million and net
income of E82,000 for the twelve month period ended March 31, 2004. The new
company will conduct business under the name TECHTEAM A.N.E. NV/SA and will
operate as a wholly owned subsidiary of TechTeam Global NV/SA.
Advanced Network Engineering specializes in designing and implementing total IT
services solutions, both for customers creating a new network installation or
migrating, upgrading, or expanding their current IT architecture. These
solutions include network (LAN/WAN) design, installation, connectivity,
security, storage, and systems and application integration. A.N.E. is a Cisco
Partner, Microsoft Certified Solutions Provider, Hewlett Packard Solutions
Partner, IBM Business Partner, Citrix Silver Partner, Novell Business Expert,
Computer Associates Enterprise Silver Solution Partner, Lotus Advanced Business
Partner, Symantec Enterprise Partner, Belgacom Data Partner, and UUNET
value-added reseller.
Terms of the transaction will be contained in a Form 8-K filing to be made by
TechTeam with the United States Securities and Exchange Commission. TechTeam
anticipates this acquisition will be accretive to its earnings for the fiscal
year ending December 31, 2004. However, the Company provides no assurances
regarding the acquisition's potential impact on the Company's results of
operations.
-- More --
27335 West 11 Mile Road, Southfield, Michigan 48034 - Telephone (248) 357-2866 -
Fax (248) 357-2570 - www.techteam.com
[TECH TEAM LOGO] NEWSRELEASE
Commenting on this announcement, Christoph Neut, Managing Director of TechTeam
Global NV/SA and Vice President -- Sales and Marketing, Europe, Middle East, and
Africa ("EMEA") for TechTeam Global, stated, "We are very excited about this
acquisition and the immediate and significant expansion it will provide to our
presence in the rapidly growing data systems integration and IT solutions
provisioning business. Advanced Network Engineering is a recognized leader in
its market, has a reputation for providing outstanding customer service, and has
a highly skilled and client-focused work force. We are delighted to have A.N.E.
join the TechTeam Global family of companies. Advanced Network Engineering will
provide TechTeam with an important and immediate entree to the commercial
systems integration market. With an established customer base, over 300
employees based in Belgium, a strong management team, and the requisite
financial support, TechTeam is committed to expand our portfolio of value-added
IT services, which will further complement our established call center and help
desk support service lines. The addition of A.N.E. to TechTeam will be
immediately accretive to TechTeam's earnings in 2004 and help us continue to
expand our market share and revenue growth from our core business groups."
Also commenting on this announcement, Peter De Gendt, Managing Director of
Advanced Network Engineering, stated, "We are equally delighted to be joining
forces with a company of TechTeam Global's reputation and stature. We believe
that the transaction with TechTeam will allow us to be more successful than we
could have otherwise been as an independent company. TechTeam's extensive
experience in delivering integrated help desk and call center solutions,
superior overall customer value proposition and outstanding technical tools will
allow us to expand our offering to our corporate clients with multilingual
helpdesk services. The financial strength of TechTeam Global will allow A.N.E.
to further invest in strategic, leading-edge IT solutions such as remote
monitoring, voice-over-IP technology, and network security. We are very excited
about this transaction and look forward to becoming part of the TechTeam Global
organization."
TECHTEAM GLOBAL, INC. is a global provider of information technology and
business process outsourcing services. The Company's ability to integrate
computer services into a flexible, total single point of contact solution is a
key element of its success. Partnerships with some of the world's
"best-in-class" corporations provide TechTeam with unparalleled experience and
expertise in providing the following IT support solutions: help desk/call center
services, technical staffing, professional services/systems integration, and
training programs. For information about TechTeam Global, Inc. and its
outstanding services call 1-248-357-2866 (US) or +32 2 706 25 11 (EMEA).
-- More --
27335 West 11 Mile Road, Southfield, Michigan 48034 - Telephone (248) 357-2866 -
Fax (248) 357-2570 - www.techteam.com
[TECH TEAM LOGO] NEWSRELEASE
SAFE HARBOR STATEMENT
The statements contained in this press release that are not purely historical,
including statements regarding the Company's expectations, hopes, beliefs,
intentions, or strategies regarding the future, are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements include statements regarding, among other things, the potential
impact of this acquisition on the Company's revenue and earnings performance
going forward. Forward-looking statements may be identified by words including,
but not limited to, "anticipates," "believes," "intends," "estimates,"
"promises," "expects," "should," "conditioned upon," and similar expressions.
Prospective investors are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and uncertainties, and
that actual results may differ materially from those projected in the
forward-looking statements as a result of various factors. There are significant
risks associated with the Company's ability to successfully integrate this
acquisition on a timely basis. Further, there can be no assurance that it will
have the impact on the Company's financial condition and results of operations
contemplated in this release. The factors that could affect the anticipated
impact include but are not limited to our ability to retain key employees of the
acquired company and develop the cross selling opportunities. The
forward-looking statements included in this press release are based on
information available to the Company on the date hereof, and the Company assumes
no obligation to update any such forward-looking statement. Prospective
investors should also consult the risks described from time to time in the
Company's Reports on Forms 8-K, 10-Q, and 10-K filed with the United States
Securities and Exchange Commission.
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CONTACTS:
TECHTEAM GLOBAL, INC. TECHTEAM GLOBAL, NV/SA A.N.E.
William F. Coyro, Jr. Christoph Neut Peter De Gendt
President and Chief Vice President -- Sales and Managing Director
Executive Officer Marketing, EMEA (+32) 9 223 5174
(+1) 248-357-2866 (+32) 2 706 25 01 Peter.degendt@ANE-be.com
wcoyro@techteam.com cneut@techteam.com
27335 West 11 Mile Road, Southfield, Michigan 48034 - Telephone (248) 357-2866 -
Fax (248) 357-2570 - www.techteam.com