NEWPORT BEACH — Data Processing Resources Corp. said it acquired Spectrum Software Services Group of Austin, Texas, for $28.2 million in cash and $4 million in stock.
Spectrum Software, which provides information technology staffing, generated revenues of $10 million in 1997. Data Processing Resources also provides information technology staffing as well as recruiting services.
Data Processing said any additional payment is contingent on Spectrum Software generating certain minimum cash flow in 1998.
Data Processing shares fell 38 cents a share to $23.63 Wednesday on the Nasdaq market.