-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gp/kLFGib0LccRqlur6D5uhE/RbNCpxu4A9yIIfTC5nYVN5yAPUO4dpYdUQARAOG 0/cCwJhHYRDdZh+N6Tq97Q== 0001144204-08-032454.txt : 20080528 0001144204-08-032454.hdr.sgml : 20080528 20080528164240 ACCESSION NUMBER: 0001144204-08-032454 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20080522 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080528 DATE AS OF CHANGE: 20080528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TECHTEAM GLOBAL INC CENTRAL INDEX KEY: 0000805054 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 382774613 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16284 FILM NUMBER: 08863965 BUSINESS ADDRESS: STREET 1: 27335 W. ELEVEN MILE ROAD CITY: SOUTHFIELD STATE: MI ZIP: 48034 BUSINESS PHONE: 248-357-2866 MAIL ADDRESS: STREET 1: 27335 W. ELEVEN MILE ROAD CITY: SOUTHFIELD STATE: MI ZIP: 48034 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL TECHTEAM INC /DE/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MEGAVEST INDUSTRIES INC/NV/ DATE OF NAME CHANGE: 19871007 8-K 1 v115950_8k.htm Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 22, 2008
 
TECHTEAM GLOBAL, INC.
(Exact name of registrant as specified in its charter)


Delaware
0-16284
38-2774613
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)


27335 West 11 Mile Road, Southfield, MI 48033
(Address of principal executive offices) (Zip Code)


Registrant’s telephone number, including area code: (248) 357-2866


_________________________________________________
(Former name or former address if changed since last report)




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
£ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)
 
£ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
£ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
£ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


 

 
 

 


Item 8.01
Other Events
 
On May 22, 2008, TechTeam Global, Inc. (the “Company”) issued a press release announcing the establishment of service desk operations in Manila, Philippines through an agreement with Rainmaker Asia, Inc., a wholly-owned subsidiary of Rainmaker Systems, Inc. (Nasdaq: RMKR). A copy of this press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Company’s Chairman, Alok Mohan, is also a director and Chairman of Rainmaker Systems, Inc. The Company’s Board of Directors and Audit Committee independently approved this transaction.
On May 28, 2008, TechTeam Global, Inc. issued a press release announcing organizational realignment and restructuring actions. A copy of this press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits
 
(D) The following exhibits are included with this report:
Exhibit 99.1
TechTeam Global, Inc. Establishment of Service Desk Operations in the Philippines Press Release dated May 22, 2008
Exhibit 99.2
TechTeam Global, Inc. Organizational Realignment and Restructuring Actions Press Release dated May 28, 2008
 

 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
     
  TECHTEAM GLOBAL, INC.
 
 
 
 
 
 
Date: May 28, 2008 By:   /s/ Michael A. Sosin
 
Michael A. Sosin
  Title: Vice President, General Counsel and Secretary 

 
 
 

 
 

 

EXHIBIT INDEX
 
Exhibit No.  Description
 
99.1
TechTeam Global, Inc. Establishment of Service Desk Operations in the Philippines Press Release dated May 22, 2008
 
99.2
TechTeam Global, Inc. Organizational Realignment and Restructuring Actions Press Release dated May 28, 2008
 

 
EX-99.1 2 v115950_ex99-1.htm Unassociated Document
 

 
 NewsRelease
   
NASDAQ-GM — “TEAM”
 
 
FOR IMMEDIATE RELEASE, Thursday, May 22, 2008
 
TechTeam Global to Establish Service Desk Operations in the Philippines through Agreement with Rainmaker
 
TechTeam to expand its global multilingual delivery capability
 
SOUTHFIELD, MICHIGAN, May 22, 2008TechTeam Global, Inc. (Nasdaq: TEAM), a worldwide provider of information technology (IT), enterprise support and business process outsourcing services, today announced that it has entered into an agreement with Rainmaker Asia, Inc., a wholly-owned subsidiary of Rainmaker Systems, Inc. (Nasdaq: RMKR), to establish service desk operations in the Philippines. Under the agreement, Rainmaker and TechTeam will jointly build delivery capability in Manila using Rainmaker’s existing facility, infrastructure and staffing capabilities.
 
“After careful consideration of many potential locations, we selected the Philippines based on the availability of individuals with excellent language skills, deep technical skills, a high degree of professionalism and a strong customer service orientation,” said Gary Cotshott, President and Chief Executive Officer of TechTeam Global.
 
“Establishing capability in the Philippines is an important step in the execution of our globalization strategy and will enable our company to offer more service options to existing and new customers. We are impressed with Rainmaker’s operational expertise, and we are confident in our ability to team with them to create excellent customer-focused solutions. This agreement provides us with the ability to quickly and efficiently respond to growing customer demand while ensuring high quality service delivery. As part of our strategy, we also expect to establish a TechTeam-owned facility to meet growing customer demand,” said Cotshott.
 
“We are excited to be working with TechTeam to provide services to their Fortune 1000 customers. The addition of new clients such as TechTeam to our recently expanded operations at Rainmaker Asia highlights the high quality services we provide to our clients and their customers,” said Michael Silton, President and Chief Executive Officer of Rainmaker Systems.
 
 
About Rainmaker
 
 
Rainmaker Systems, Inc. delivers sales and marketing solutions, combining hosted application software and execution services designed to drive more revenue for our clients. Our Revenue Delivery Platform(SM) combines proprietary, on-demand application software and advanced analytics with specialized sales and marketing execution services. Rainmaker clients include large enterprises in a range of industries, including computer hardware and software, telecommunications, and financial services industries. For more information, visit www.rmkr.com or call 800-631-1545.
 


Global Headquarters
27335 West 11 Mile Road, Southfield, Michigan 48033 · Telephone (248) 357-2866 · Fax (248) 357-2570 · www.techteam.com
 
European Headquarters
Zweefvliegtuigstraat 10 Rue du planneur - 1130 Brussels - Belgium · Telephone +32 2 620 20 20 · Fax +32 2 726 05 45
www.techteam.eu
 
Government Solutions Headquarters
3863 Centerview Drive, Suite 150, Chantilly, Virginia 20151 · Telephone (703) 956-8200 · Fax (703) 956-8201
www.techteam.com/governmentsolutions



 
NewsRelease
   
About TechTeam Global, Inc.
 
 
TechTeam Global, Inc. is a worldwide provider of information technology, enterprise support and business process outsourcing services to Fortune 1000 corporations, multinational companies, product providers, small and medium-sized companies, and government entities. TechTeam’s ability to integrate computer services into a flexible, ITIL-based solution is a key element of its strategy. Partnerships with some of the world’s “best-in-class” corporations provide TechTeam with unique expertise and experience in providing information technology support solutions. For information about TechTeam Global, Inc. and its services, call 800-522-4451 from the United States or visit our Web sites at www.techteam.com and www.techteam.eu. TechTeam’s common stock is traded on the Nasdaq Global Market under the symbol “TEAM.”
 
 
Safe Harbor Statement
 
With the exception of statements regarding historical matters and statements regarding the Company’s current status, certain matters discussed herein are forward-looking and involve substantial risks and uncertainties. Statements concerning such forward-looking matters may be identified by the use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions. Actual results, performance or achievements could differ materially from these forward-looking statements. Specifically, the agreement between Rainmaker and TechTeam establishes a framework for TechTeam to deliver support from the Philippines with Rainmaker providing service delivery under TechTeam’s management and oversight. The services will be performed in the Philippines in fulfillment of specific customer contracts. TechTeam has the risks incumbent in launching and managing business in the Philippines. All 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 statements. Prospective investors should also review the Company’s Reports on Forms 8-K, 10-Q, and 10-K filed with the United States Securities and Exchange Commission, including Management’s Discussion and Analysis of Financial Condition and Results of Operations, and the risks described therein from time to time.
###
 
Contacts:
 
TechTeam Global, Inc.
Chris Donohue
VP, Global Strategy & Marketing
248-357-2866
TechTeam Global, Inc.
Marc Lichtman
VP, Chief Financial Officer and Treasurer
248-357-2866



Global Headquarters
27335 West 11 Mile Road, Southfield, Michigan 48033 · Telephone (248) 357-2866 · Fax (248) 357-2570 · www.techteam.com
 
European Headquarters
Zweefvliegtuigstraat 10 Rue du planneur - 1130 Brussels - Belgium · Telephone +32 2 620 20 20 · Fax +32 2 726 05 45
www.techteam.eu
 
Government Solutions Headquarters
3863 Centerview Drive, Suite 150, Chantilly, Virginia 20151 · Telephone (703) 956-8200 · Fax (703) 956-8201
www.techteam.com/governmentsolutions
   

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NEWSRELEASE
 
NASDAQ-GM — “TEAM”
 
FOR IMMEDIATE RELEASE, Wednesday, May 28, 2008
 
TechTeam Global Announces Organizational Realignment and Restructuring Actions
 
Plan Improves Operating Efficiency, Global Consistency and Profitability
 
SOUTHFIELD, MICHIGAN, May 28, 2008TechTeam Global, Inc. (Nasdaq: TEAM), a worldwide provider of information technology (IT), enterprise support and business process outsourcing services, today announced corporate-wide organizational realignment and restructuring actions to improve the Company’s operating efficiency, achieve greater global consistency and drive improved financial performance.
 
The plan involves reorganizing many of the Company’s business functions from a regional model to a global structure and results in reductions in staff functions of approximately 60 people. As a result, the Company expects to incur a $3.0-3.5 million restructuring charge in the second quarter of 2008, at which point the Company expects to have completed the restructuring. The Company does not anticipate incurring a restructuring charge in future periods related to this plan.
 
“We have designed our organization structure to achieve greater operating efficiencies and agility on a global scale in a competitive environment where best practices must be quickly identified, shared and implemented globally. This plan will enable TechTeam to provide high quality service delivery and account management for our customers globally, while allowing us to improve our financial performance and invest strategically to expand our geographic presence, increase our depth of capabilities and improve our visibility in the market,” said Gary J. Cotshott, President and Chief Executive Officer of TechTeam Global, Inc.
 
“When I joined TechTeam in mid-February, one of my top priorities was to improve our operating efficiency and overall profitability, which while improved, remains below acceptable levels. Simultaneously, we wanted to re-invest on a targeted basis to support future growth, most notably in additional sales and marketing resources to drive demand. We will accomplish both objectives with this restructuring,” Cotshott added. “We have already begun executing these actions. The organizational changes and staff reductions will be completed in large part this week with full completion anticipated by the end of the second quarter. In addition to a more effective organization, we expect to deliver improved profitability, achieving operating margins in the range of 7-8% for the second half of this year, which is a significant improvement over our recent performance.”
 
 

Global Headquarters
27335 West 11 Mile Road, Southfield, Michigan 48033 · Telephone (248) 357-2866 · Fax (248) 357-2570 · www.techteam.com
 
European Headquarters
Zweefvliegtuigstraat 10 Rue du planneur - 1130 Brussels - Belgium · Telephone +32 2 620 20 20 · Fax +32 2 726 05 45
www.techteam.eu
 
Government Solutions Headquarters
3863 Centerview Drive, Suite 150, Chantilly, Virginia 20151 · Telephone (703) 956-8200 · Fax (703) 956-8201
www.techteam.com/governmentsolutions

 
 
NEWSRELEASE
 
Conference Call Information
TechTeam Global, Inc. will also host an investor teleconference to discuss its organizational realignment and restructuring actions at 4:30 p.m. EDT, Thursday, May 29, 2008. To participate in the teleconference, including the question and answer session that will follow the results announcement and discussion, please call 1-866-825-3354 (outside the United States, call +1-617-213-8063). When prompted, enter the passcode: 96125334. To access a simultaneous Web cast of the teleconference, go to the TechTeam Global Web site at http://www.techteam.com/investors and click on the Web cast icon. From this site, you can download the necessary software and listen to the teleconference. TechTeam encourages you to review the site before the teleconference to ensure that your computer is configured properly.
 
A taped replay of the call will be available beginning at approximately 6:00 p.m. EDT, Thursday, May 29, 2008. This toll-free replay will be available through Thursday, June 12, 2008. To listen to the teleconference replay, call 1-888-286-8010 (outside the United States, call +1-617-801-6888). When prompted, enter the passcode: 26465135.
 
About TechTeam Global, Inc.
TechTeam Global, Inc. is a worldwide provider of information technology, enterprise support and business process outsourcing services to Fortune 1000 corporations, multinational companies, product providers, small and medium-sized companies, and government entities. TechTeam’s ability to integrate computer services into a flexible, ITIL-based solution is a key element of its strategy. Partnerships with some of the world’s “best-in-class” corporations provide TechTeam with unique expertise and experience in providing information technology support solutions. For information about TechTeam Global, Inc. and its services, call 800-522-4451 from the United States or visit our Web sites at www.techteam.com and www.techteam.eu. TechTeam’s common stock is traded on the Nasdaq Global Market under the symbol “TEAM.”
 
Safe Harbor Statement
Certain statements contained herein, including statements regarding the impact of the Company’s corporate-wide organizational realignment — involving, among other things, a reduction in the Company’s workforce and an anticipated restructuring charge — on the Company’s financial performance, operating margins and profitability, and other statements contained herein regarding matters that are not historical facts, are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking matters may be identified by the use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, uncertainties regarding ability of the Company to complete the realignment timely and with limited impact to the Company’s service delivery, difficulties in obtaining new customers and retaining existing customers, difficulties in achieving expected expense reductions as a result of management initiatives, and those risks and uncertainties discussed in filings made by the Company with the Securities and Exchange Commission, including those risks and uncertainties described from time to time in the Company’s Reports on Form 10-K, 10-Q and 8-K, including Management’s Discussion and Analysis of Financial Condition and Results of Operations, and the risks described therein from time to time.
 
###
 
Contacts:
 
TechTeam Global, Inc.
Chris Donohue
VP, Global Strategy & Marketing
248-357-2866
TechTeam Global, Inc.
Marc Lichtman
VP, Chief Financial Officer and Treasurer
248-357-2866
 

Global Headquarters
27335 West 11 Mile Road, Southfield, Michigan 48033 · Telephone (248) 357-2866 · Fax (248) 357-2570 · www.techteam.com
 
European Headquarters
Zweefvliegtuigstraat 10 Rue du planneur - 1130 Brussels - Belgium · Telephone +32 2 620 20 20 · Fax +32 2 726 05 45
www.techteam.eu
 
Government Solutions Headquarters
3863 Centerview Drive, Suite 150, Chantilly, Virginia 20151 · Telephone (703) 956-8200 · Fax (703) 956-8201
www.techteam.com/governmentsolutions

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