Press Release
PRICE Systems Awarded Major Contracts in Federal Market
MT. LAUREL, New Jersey - June 23, 2006 - PRICE Systems, world leader in Program Affordability Management Solutions, today announced major contract awards from the U.S. Navy and the Department of Homeland Security. Both contracts are potentially worth millions in revenue to the company for at least the next five years.
"New business partnerships that PRICE has recently formed are paying off," said Larry Reagan, Vice President of Government Solutions at PRICE Systems. "By increasing our focus on teaming with complementary technology and services companies, PRICE is expanding its opportunities and footprint in the federal market. We are optimistic that these contracts are just the start of a very exciting chapter in PRICE history."
A multiple-award contract under Naval Sea Systems Command's SeaPort Enhanced (SeaPort-e) acquisition program improves PRICE's federal market positioning with an important contract vehicle over a three-year base period, a five-year award term, and an additional two-year award term. This contract will be managed from the PRICE Patuxent River, Maryland office. Under the SeaPort-e acquisition—which is used by all Navy Commands and some DoD agencies for faster and more cost-effective procurement of engineering, technical, and program support services—PRICE will offer its Affordability Management solutions to include risk analyses, cost estimating and analysis, and affordability simulation. PRICE qualifies for all seven regional zones throughout the United States.
The government estimates up to $5.3 billion of services will be procured annually through task orders issued under the SeaPort-e multiple-award contracts. PRICE is partnering with the engineering specialty company JKJ Engineered Technologies (Lusby, MD) who teamed with PRICE in 2005 on successful projects for the Defense Advanced Research Projects Agency (DARPA) and AMSEC, LLC (Hampton, VA), who is a team member on another contract PRICE has with Naval Air Systems Command (NAVAIR),.
A partnership between PRICE and SiloSmashers, Inc. (Fairfax, VA) was just awarded a five-year BPA by the Department of Homeland Security (DHS). This contract for strategic sourcing of accounting, budgeting, and complementary financial management services, enables any agency within DHS to more easily acquire cost analysis, cost estimating, earned value analysis, business case analysis, and budget support solutions from PRICE. The contract will be managed from the PRICE Rosslyn, Virginia office. SiloSmashers entered into a partnership with PRICE in late 2005 to include fast, accurate, parametric cost analysis and estimating support as part of their business process re-engineering solutions. DHS is the first major contract award resulting from the new relationship with more contracts from both government and commercial sectors expected to follow.
About PRICE Systems
PRICE Systems, the world leader in Program Affordability Management solutions, enables government agencies, defense programs and commercial organizations to successfully select, control and deliver large-scale, complex and high-visibility projects. The company offers cost estimating, cost analysis and knowledge capture tools, combined with expert consulting in cost estimating, and project control methods and best practices, to help customers better control costs and schedules throughout a project's lifecycle, ensuring program affordability. Established in 1975 with offices in the United States, Europe and Asia-Pacific, PRICE Systems serves more than 250 customers worldwide. More than 10,000 project professionals have been trained in the company's cost estimating and analysis methodologies.
Contact Information
Vincent Ferrara
PRICE Systems, LLC
1.856.813.2757
Vincent.Ferrara@PRICESystems.com
