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TSR Inc. (symbol: TSRI) is a relationship-based, customer-focused IT and technical services staffing company with over 40 years of industry experience. TSR Inc., along with its wholly-owned subsidiary, TSR Consulting Services, has earned the trust and respect of both large and small companies by providing well-refined candidate screening, timely placement, and a deep understanding of the skill sets required by clients. Our primary mission is to ensure that our clients succeed in the rapidly evolving, technology-based world by equipping them with the right tools and the most skilled technical personnel.
TSR Inc. specializes in providing contract computer programming services that complement the in-house IT capabilities of our clients. Our services span across various IT domains, including mainframe and mid-range computer operations, personal computing, client-server support, internet and e-commerce operations, voice and data communications, and help desk support. We offer both short-term and long-term staffing solutions tailored to the unique needs of our clients across multiple industries such as insurance, pharmaceutical and biotechnology, publishing and new media, financial services, and project utilities.
Our core services include IT staff augmentation and technology consulting. We are committed to being nimble and responsive, ensuring flexibility and accommodation in every interaction. As a financially sound public company, we continue to provide exceptional value to our clients by working diligently to meet their evolving IT staffing needs.
Stay informed with the latest updates and developments from TSR Inc. to understand our recent achievements and ongoing projects that showcase our commitment to excellence in the IT staffing industry.
Vienna Parent , led by Justin Christian, announced the successful completion of its cash tender offer to acquire all outstanding shares of TSR for $13.40 per share. The tender offer expired on June 27, 2024, resulting in 1,946,960 shares being validly tendered, representing about 89.7% of TSR's voting power. These shares have been accepted for payment, and the second-step merger is expected to finalize today, converting remaining TSR shares to cash at the same rate. Post-merger, TSR will become privately held and delist from NASDAQ.
TSR, a recognized IT staffing solutions provider, has entered into a definitive agreement to be acquired by Vienna Parent , an entity formed by BCforward founder Justin Christian.
Under the agreement, Vienna Sub, a wholly-owned subsidiary of Vienna Parent, will purchase all outstanding TSR shares for $13.40 per share, amounting to an equity value of approximately $29 million. This offer represents a 73.8% premium over TSR's closing price on May 14, 2024.
The transaction is expected to close in Q3 2024, subject to customary conditions, including a majority tender of TSR's shares. Vienna Parent has secured up to $24 million in credit from First Merchants Bank to finance the acquisition.
BCforward aims to enhance service offerings through this acquisition, leveraging TSR's established client base.
TSR, Inc. (NASDAQ: TSRI) reported a net income of
TSR, Inc. (NASDAQ: TSRI) has announced the promotions of Yvette Fisher to Vice President, Director of Human Resources, and Denise Briggs Newman to Vice President, Director of Accounting. CEO Thomas Salerno commended their exemplary service, highlighting their combined 33 years of experience at TSR. They are recognized for their dedication to administering payroll for over 750 employees and consultants, enhancing client and employee experiences. Chairman Brad Tirpak and CFO John Sharkey expressed support for these promotions, emphasizing the importance of initiative and reliability within the company.
TSR, Inc. (NASDAQ: TSRI) reported a 9.1% increase in revenue to
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