To: John Arnopp who wrote (1067 ) 2/5/1998 11:14:00 PM From: William R. Polk Read Replies (1) | Respond to of 4467
John, one of the companies prominently mentioned by SFE at the Emerald Conference was Intellisource. SFE CEO mentioned Intellisource had $70 million in revenues which is just about the size SFE likes before bringing a company public. Here is a recent press release from Intellisource which describes a 10 year contract to provide services to some electrical utilities in the Wash., D.C. area. >>Greater Washington, D.C., Electric Cooperatives Choose Intellisource to Provide Support Services Information technology and telecommunications part of ten-year agreement FAIRFIELD, CONN. (January 12, 1998)--The Intellisource Group, a national services integrator specializing in strategic outsourcing solutions, announced today it has reached an agreement with three electric cooperatives in greater Washington, D.C., to supply various support service functions. The ten-year agreement involves Intellisource taking the cooperatives from a mainframe IT system to a client-server environment. Under the agreement, which became effective January 1, 1998, Northern Virginia Electric Cooperative (NOVEC) and Rappahannock Electric Cooperative (REC) will outsource all information technology activities to Intellisource, while Southern Maryland Electric Cooperative (SMECO) will outsource both its information technology and telecommunications functions. "This engagement ties us even closer to the electric utility industry and gives us a presence in the Washington area," says Charles H. Gibbons, founder and CEO of Intellisource. "It also supports our corporate strategy of acquiring new skills and capabilities with each new engagement and leveraging them for the benefit of all customers." In addition to meeting the three cooperatives' individual needs, Intellisource will work with the cooperatives collectively to implement a major information technology project over a three-year period. This project involves transferring to Intellisource the cooperatives' IT employees as well as project management and ongoing operation of the new information system. "These progressive electric co-ops have recognized that a relationship with Intellisource will enable them to realize cost savings through economies of scale and gain a more defined focus on their core competencies," says John A. Cutrone, Intellisource vice president of utility marketing. "In addition, we'll have a system that is easily transferable to other electric cooperatives." Intellisource, with corporate headquarters in Fairfield, Conn., and operational hubs in Atlanta and Houston, is a Safeguard Scientifics Inc. (NYSE:SFE) partnership company. With annual revenues of more than $2 billion, Safeguard is a unique partnership of entrepreneurial companies focused on information technology markets. In addition to the utility industry, Intellisource also works with companies in the energy, healthcare, technology and financial services fields. CONTACT: Bob Porter Intellisource (770) 270-7184 Tricia Molloy Molloy Communications (770) 565-1231>>