BTG Announces Strategic Partnership and Investment Agreement with DOAR Communications
FAIRFAX, Va.--(BUSINESS WIRE)--Jan. 23, 2001--
BTG Announces Strategic Partnership and
Investment Agreement with DOAR Communications
BTG, Inc. (Nasdaq: BTGI), an information systems and technical services company, has signed a strategic partnership and investment with DOAR Communications, Inc. DOAR, which is privately held, is a leading provider of advanced technology-based systems and services for the judicial court, litigation, and alternative dispute resolution markets.
Under the terms of the agreement, BTG may acquire up to 19.5% of DOAR stock over the next year for a potential investment of up to $3 million. An initial investment of $1 million was made on January 5 and will be followed by a second investment of $1 million in February, 2001. In return for its initial investments, BTG will receive a 12% equity stake in DOAR.
BTG President and CEO Ed Bersoff said the DOAR relationship is part of BTG's overall strategy to broaden its markets within both the government and the private sector. He added that the justice technology systems and litigation services provided by DOAR to the legal community enhance BTG's long-standing technical support to the U.S. Department of Justice and the U.S. Courts. BTG's current contract with the Administrative Office of the U.S. Courts provides a variety of technology services for 200 federal courts and 25,000 judiciary personnel. The program is intended to help the judiciary system deal with a rapidly expanding workload by providing a state-of-the-art database environment that can evolve with the increasing demands levied upon it. DOAR has been awarded the Courtroom Technology Contract by the Administrative Office of the U.S. Courts.
Through its relationship with DOAR, BTG expects to expand its systems integration and software services to the growing state, local and private judicial environments. To that end, the companies said the investment agreement includes a related business agreement under which DOAR grants BTG a right of first refusal for three years on the marketing of certain DOAR advanced technology solutions to selected markets. In addition, DOAR has agreed to procure related BTG professional services over the term of the designed partnership.
DOAR Chairman and CEO Samuel Solomon said: DOAR places a high priority on the continued financial strength of the company and we believe our partnership with BTG will support this objective. Just as important are the many opportunities this alliance creates for BTG and DOAR to work together towards the enhancement of the American justice system."
DOAR's Justice Technologies division provides services to courts, law schools, government agencies and the private sector, including evidence presentation, teleconferencing, court design, and systems integration. Its Litigation Services division provides comprehensive support to law firms, including case strategy/consultation, graphic development and presentations, jury research, and technology support at trial. The division also provides newly expanded Discovery Services, featuring coding/scanning, video conversion, electronic evidence, and secure Web-hosting capabilities. |
