Revenue Canada contract - $0.5M to $2.5M
JANUARY 26, 1999
NewSys Awarded Integration Contract by Government of
Canada -- Initial Contract Value $586,915 with Potential
for $2,500,000
OTTAWA, ONTARIO--NewSys Solutions Inc. ("NewSys" or the
"Company"), (ASE:NSS) a leading Information Technology (IT)
services company, is pleased to announce that it has been awarded
a contract by the Government of Canada, to perform services
relating to the integration of a large database in a mainframe
environment. The work shall commence immediately and will be
performed in conjunction with Revenue Canada staff members. The
contract is for a term of 3 years and is valued initially at
$586,915, with the potential to be increased to $2,500,000,
through a Government of Canada option to both extend and expand
the services provided.
"We are very pleased that the department of Revenue Canada chose
us for this particular integration assignment" said Mark Quigg,
CEO, NewSys Solutions Inc., "NewSys has one of the largest teams
of database specialists in the country and with a substantial
presence in the Ottawa marketplace, we are well positioned to
participate in this growing trend to outsource the implementation
of such projects".
NewSys Solutions Inc., is an IT consulting firm and an innovator
in business intelligence solutions, specializing in data
warehousing, integration, and outsourcing. Employing over 160 IT
professionals, NewSys' clients include Fortune 500 corporations
and government departments located in both Canada and the United
States. The Company achieved $14.2 million in revenues in its
last 4 quarters, and has a current annualized revenue run rate of
$17 million. NewSys has recorded 22 consecutive quarters of
growth and profitability and was acknowledged by Profit Magazine
as one of the fastest growing companies in Canada.
The Alberta Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. |
