Volt Information Sciences to Acquire LSSi Corp. in Directory Assistance Deal

Volt Information Sciences, Inc. (NYSE: VOL) announced today that Volt Delta Resources, LLC., a wholly owned subsidiary of the company, has signed a definitive merger agreement with LSSi Corp. and certain shareholders of LSSi.  As a result of the merger, LSSi will become  a wholly owned subsidiary of VoltDelta.  The total merger consideration will be approximately $70 million in cash subject to adjustment after the closing based upon the amount of LSSi’s working capital on the closing date.

The transaction is subject to antitrust, and other regulatory approvals as well as other customary closing conditions and is expected to close in the Volt’s third quarter of 2007.

“Quality business intelligence data is the underpinning of today’s Information Age Company.” said Joe DiAngelo, President of VoltDelta.  “The combination of VoltDelta’s application development, integration and hosting expertise and LSSi’s highly efficient data processing allows us to serve broader base of customers by aggregating the most current and accurate business and consumer information possible.”

VoltDelta has traditionally served the directory assistance market, combining data with large scale integrated directory assistance systems, whereas LSSi has spent years growing its enterprise business converting directory assistance listings into valuable business intelligence data by aggregating information collected from telephone companies across North America and Europe.  Most recently, LSSi has begun expanding data sources to include VoIP listings, cable company listings and wireless listings, further increasing the value of their database.  The combined company will be better equipped to efficiently serve customers who are looking to access the most current information in order to find businesses and people by bringing to market the most accurate information available.