Newsroom
12/21/09
STS ANNOUNCES SUBCONTRACT AGREEMENT WTIH DIVISION OF HONEYWELL INTERNATIONAL
NEW YORK, NY-December 21, 2009-The Evermedia Group affiliate System Technology Solutions, Inc. (STS) announced a task order driven subcontract agreement with Honeywell Technology Solutions, Inc. (Honeywell), a division of Honeywell International. Under a $22,426,474, indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee, performance-based prime contract, STS will provide engineering support to the Navy, Department of Defense (DoD), and other government agencies, including the Defense Logistics Agency (DLA). This development follows the Department of the Navy approval of STS's capabilities to accommodate The Space and Naval Warfare Systems Center (SPAWAR); this authorization required a technical review of STS conducted by Department of Defense. Previously mentioned in a late August press release, STS recently received approval to identify Honeywell as prime.
By its terms, the subcontract agreement indicates STS will perform a broad range of SPAWAR services directed toward the commission of Automated Fuel Handling Equipment (AFHE). Specifically, the majority of tasks within STS's capabilities will include automated equipment installation for fuel handling facilities pursuant to the Phase IIB Automation Program and Automated Tank Gauging (ATG) replacement program. Under the subcontract, STS technicians are responsible for the installation of ATG and automated fuel service station equipment in accordance with DLA-established standards and guidelines. Additionally, STS must coordinate these tasks between existing field devices and legacy Business Systems Modernization (BSM) software systems, formally known as Fuel Automated Systems (FAS). Although AFHE represents the primary focus of the subcontract agreement, other tasking available to STS includes installation and maintenance of enhanced security systems and automated information system development such as database, Geographical Information Systems (GIS), and web-based systems.
According to Dick Weitzel, CEO of STS, "We're enthusiastic the Honeywell subcontract will demonstrate its value in both the short and long term. Currently, we're preparing to perform issued task orders, bearing in mind the importance of our continued relationship to Honeywell," said Weitzel. "We greatly appreciate the opportunity to participate in this renovation effort; STS will perform our ATG tasks such that Honeywell will extend us more opportunities."
About Honeywell Technology Solutions, Inc.
Headquartered in Columbia, MD, Honeywell Technology Solutions is a division of the Fortune 100 Honeywell International, ranking 63rd in 2009. Honeywell Technology Solutions offers an array of services for aerospace and military customers. Activities include technical and engineering services (equipment calibration services), space system services (satellite flight control and mission operations), logistics and sustainment (expeditionary logistics, depot-level maintenance, systems engineering and integration), program management services (safety performance tracking and management, quality inspection and auditing, and risk management), and IT and communication services (communication security and information assurance). Among various institutional clients, Honeywell Technology Solutions notably serves its largest customer, the National Aeronautics and Space Administration (NASA).
About System Technology Solutions
Based in San Antonio, TX, STS is a defense contractor providing engineering, logistics, IT and security services to government and large commercial enterprises. STS also provides technical design, program management and security services globally.
10/28/09
STS NAMED SUBCONTRACTOR ON DEPARTMENT OF HOMELAND SECURITY CONTRACT
New York, NY—October 28, 2009—Evermedia Group affiliate, System Technology Solutions, Inc. (STS) is pleased to announce it will serve the US Department of Homeland Security (DHS) on the PACTS services contract. Under a subcontract formed with Serrano IT Services, Inc. (SITS), STS will supply DHS with fiber optic security, surveillance systems, personnel/vehicle access control, and emergency planning. Selected in accordance with set-aside procurement, both SITS and STS are service disabled veteran owned small businesses (SDVOSBs).
Currently, the DHS Office of Procurement Operations has selected SITS under functional category four of the PACTS services contract. The SDVOSB set-aside represents a significant portion of the total services under the PACTS services contract for DHS. The SDVOSB set-aside portion of the contract will provide a wide range of services for DHS through four comprehensive functional categories: (1) Program Management, (2) Administrative, (3) Clerical, and (4) Technical Services (PACTS). All PACTS services to be provided are non-IT related. While task orders will reflect individual delivery or performance period requirements, the indefinite delivery/indefinite quantity (ID/IQ) PACTS contracts carry a two-year base period and three one-year option periods. To satisfy DHS department-wide demands, PACTS contracts will be issued up to a $1.5 billion ceiling segmented in a size standard of $6.5 million.
According to Dick Weitzel, CEO of STS, “Proportionally, the PACTS procurement reserved for service disabled veteran owned businesses is one of the larger set-asides STS has realized through our SDVOSB status.” Weitzel continued, “Through this subcontract, companies like us and SITS will realize the goal of the executive order for service disabled companies in federal contracting.”
About Serrano IT Services, Inc.
Serrano IT Services, LLC (SITS) is a Service Disabled Veteran Owned (SDVO) Small Business Concern (SBC) specializing in Information Technology Solutions for federal and state governments. SITS is staffed by scientists and engineers well versed in all IT disciplines to include architecture, design, and development of new software and network systems, as well as the integration and evolution of older software and network systems. SITS experts specialize in systems integration and engineering, software engineering, telecommunications, as well as network and weather systems.
About System Technology Solutions, Inc.
Based in San Antonio, TX, STS is a Service Disabled Veteran Owned Small Business defense contractor providing engineering, logistics, IT and security services to government and large commercial enterprises. STS, a wholly owned subsidiary of STS Evermedia Corporation, also provides technical design, program management and security services globally. STS Evermedia Corporation is a subsidiary of the Evermedia Group, Inc.
10/28/09
RICHARD WEITZEL NAMED CEO OF STS EVERMEDIA CORPORATION
The Evermedia Group, Inc. is pleased to announce the appointment of Richard Weitzel as Chief Executive Officer of STS Evermedia Corporation, parent company of defense contractor System Technology Solutions, Inc. This development follows a September 2009 announcement from the Evermedia Group detailing its successful majority acquisition of STS Evermedia Corporation.
9/15/09
THE EVERMEDIA GROUP PROVIDES GUIDANCE ON UPCOMING SHARE STRUCTURE
NEW YORK, NY—(September 15, 2009)—Recently The Evermedia Group, Inc. (PINKSHEETS: EVRM) acquired a majority position in STS Evermedia Corporation (SEVM), holding company of defense contractor System Technology Solutions, Inc. (STS). As a result of this acquisition, the authorized capital stock of the company will increase from 790 million to 1.28 billion shares. The increase will reflect the issuance of new Class B non-voting and non- trading shares. The total number of outstanding shares will increase to approximately 1.131 billion shares, of which the entire increased amount will be used to finance the recent acquisition. The majority of the stock used will come from Class B shares affecting the Class A shares by an increase of approximately 124 million shares. As no third party investors, brokers or commissions were involved in the transaction, all of the increase in outstanding shares will be given to officers, directors and employees only, all in the form of restricted stock. Furthermore, the percentage increase also reflects the minimum federal requirements necessary for The Evermedia Group and its subsidiaries to maintain the Service Disabled Veteran Owned Small Business (SDVOSB) status. Lastly, the number of shares in the float will not be affected by this transaction.
CEO of The Evermedia Group, Jonathan Sym commented that “this acquisition is very important to the growth of our company. The STS transaction will allow us to consolidate financials and to generate revenues for the first time in our company’s developmental history as well as to align ourselves with several top 100 federal contractors to integrate our biometric identity applications. Now that all of our current and future operating companies will be designated as SDVOSB, this will give us a valuable and distinct advantage when bidding for government contracts against some of our larger competitors“. He further stated that “the total cost of this acquisition is about $15 million in stock and cash. What we are buying is an asset that is worth about $80-$100 million, based on STS’s current and pro forma revenues, earnings growth rates, relative P/E and its ability to generate government contracts in the next three years. This is an incredible opportunity for us to acquire an asset for a great price. Furthermore, almost 75% of this acquisition was done with newly created Class B shares which do not carry any immediate market liquidity. We did this to assure our shareholders that the principals in our company are in it for long term value. These shares have very limited selling ability but does retain similar economic value to our Class A shares in the event of a merger or acquisition by another entity. “
About Evermedia
Evermedia is a veteran-owned company based in New York, NY that develops biometric-based identification management and authentication solutions using proprietary, patent-protected iris recognition technology. Evermedia is involved in the development of biometric-based authentication and verification systems to protect personal identity. The company’s proprietary technology is patented in the United States, China and South Korea. In addition to various other companion interests, the Evermedia Group is the largest shareholder in STS Evermedia, the parent of System Technology Solutions, Inc.
About System Technology Solutions
Based in San Antonio, TX, STS is a defense contractor providing engineering, logistics, IT and security services to government and large commercial enterprises. STS also provides technical design, program management and security services globally.
9/11/09
THE EVERMEDIA GROUP AQUIRES MAJORITY STAKE IN SYSTEM TECHNOLOGY SOLUTIONS
NEW YORK, NY, September 11, 2009 – Evermedia Group, Inc. (PINKSHEETS: EVRM) is pleased to announce that it has completed an agreement to acquire a majority interest in the San Antonio, TX based defense contractor, System Technology Solutions, Inc. (STS). Currently, the Evermedia Group owns 80% of STS through its parent company and will now control two operating subsidiaries. The deal was financed primarily with common stock, requiring Evermedia to increase its authorized shares to finance the purchase. The companies will consolidate certain aspects of their businesses such as contract management, administrative functions and financial reporting while operations and division management will remain independent. Richard Weitzel will be named the new Chief Executive Officer of STS Evermedia Corporation, the parent of STS, and will also be a director at the Evermedia Group. The “change of command” will take place on or about 1 OCT 2009.
Regarding the acquisition, CEO of Evermedia Jonathan Sym stated: “this increased ownership of STS is a milestone event for us. This is the most significant event in our company’s young history as it will allow us to participate in the revenues of a terrific company. With STS as a subsidiary and some recent agreements we have yet to announce, we look forward to posting strong third quarter financials. Furthermore, we structured this acquisition so Evermedia will now become a Service Disabled Veteran Owned Small Business. This will create tremendous contracting and financial opportunities for us going forward.”
In order for a company to be designated a service disabled company, a minimum of 51% of the outstanding shares must be directly owned by veterans with a service related disability. Given this mandate, Evermedia increased its authorized to meet this requirement as well as to allow enough shares for future, targeted acquisitions. Accordingly, Evermedia believes that they are the only iris biometric and defense contracting company to have this designation.
Weitzel commented, “This is a very exciting time for us all. We have been winning some terrific contracts as well as forming teaming agreements with some of the best and largest defense contractors in the world. Now having exclusive access to biometric technologies through Evermedia, we have a distinct advantage over our competitors as demand for biometric security applications continue to grow within the DoD. This partnership with Evermedia is outstanding and we look forward to growing this family of companies together.”
About Evermedia
Based in New York, NY Evermedia develops biometric-based identification management and authentication solutions using proprietary, patent-protected iris recognition technology. Evermedia is involved in the development of biometric-based authentication and verification systems to protect personal identity. The company’s proprietary technology is patented in the United States, China and South Korea. The Evermedia Group is also the largest shareholder in STS Evermedia, the parent of System Technology Solutions, Inc.
About System Technology Solutions
Based in San Antonio, TX, STS is a defense contractor providing engineering, logistics, IT and security services to government and large commercial enterprises. STS also provides technical design, program management and security services globally.
8/4/09
SYSTEM TECHNOLOGY SOLUTIONS ENTERING FIRST OPTION YEAR OF BAGDAD DETAINEE PROPERTY WAREHOUSE AND INVENTORY TECHNICIANS CONTRACT
NEW YORK, NY—August 4, 2009—The Evermedia Group is pleased to announce that System Technology Solutions, Inc. (STS) is situated to accept its first option year award under an existing contract with Department of the Army, Joint Contracting Command Iraq (JCCIA). In total, The Detainee Property Warehouse and Inventory Technicians Contract will furnish $2,609,0420.93 in services. The contract consists of one base year carrying $871,238.36 and two option years. Currently, 7 STS employees are involved, finishing performance under the base year award and preparing to extend services once JCCIA delivers the first option year. Given the exclusive contract, the first option year automatically assigns to STS should Department of the Army maintain its planned functions. If issued, the first option year award will soon surface.
The Detainee Property Warehouse (DPW) is located at Camp Cropper, Remembrance II, Baghdad where it stores the personal property of approximately 60,000 detainees. Comprised of a supervisor and 6 technicians, STS personnel are responsible for all content accountability, storage, and inventory. Under the contract, STS personnel must also determine the status of the detainees before attending to their property.
Jonathan Sym, CEO of the Evermedia Group mentioned “between Dick’s [Richard Weitzel] persistent success in securing opportunities and STS’s talented personnel, STS deserves its reputation and strong position in government contracting space. By STS maintaining contracts like the DPW, we can stay visible and ready as more prospects develop.”
STS CEO, Richard Weitzel commented on the upcoming option saying “depending on whether the Army and JCCIA will initiate the first option year, the contract will continue through September 9, 2010. The contract has supplied good work and revenue benefitting us and our team. We are hopeful DPW will roll into the first option year.”
7/27/09
SYSTEM TECHNOLOGY SOLUTIONS SECURES SUBCONTRACT WITH A LEADING PROVIDER OF SYSTEMS INTEGRATION SERVICES
New York, NY—July 27, 2009— The Evermedia Group is pleased to announce that System Technology Solutions (STS) has recently been selected as a subcontractor on the U.S. General Services Administration (GSA) Alliant Contract which was recently awarded to Stanley, Inc. Stanley provides systems integration and professional services to federal agencies and the Department of Defense.
The 10-year multiple award/indefinite-delivery, indefinite-quantity (MA/IDIQ) Alliant contract carries a $50 billion ceiling for all awardees, it includes a five-year base and one five-year option period. With its emphasis on integrated Information Technology (IT) solutions, Alliant enables Federal and Department of Defense agencies alike with streamlined access to a broad range of management and technical support services.
“We learned that STS entered into discussions with Stanley several months ago; however, we thought it best to wait before issuing any comments until both companies formally announced their agreement,” said Robert Grannatt, Operations Manger of The Evermedia Group, Inc. “The Alliant contract is one of the largest, if not the largest, federal contract ever awarded, and Stanley is a top 100 federal contractor. This is an outstanding opportunity for all associated parties; we look forward to supporting STS in any way we can.”
The Evermedia Group is the largest equity shareholder in STS Evermedia Corporation, the parent company of System Technology Solutions, Inc. (STS). Based in San Antonio, TX, STS is a defense contractor providing engineering, logistics, IT and security services to government and large commercial enterprises. STS also provides technical design, program management and security services globally.
“I want to extend a hearty Bravo Zulu to Dick [Richard Weitzel] and his team. They worked extremely hard to make STS a premier defense contracting and services provider,” said Jonathan Sym, CEO of The Evermedia Group. “We look forward to furthering our relationship with STS in an effort to provide our shareholders with sustainable growth and long term value.”
About Stanley
Stanley (NYSE: SXE) is a provider of information technology services and solutions to U.S. defense and federal civilian government agencies. Headquartered in Arlington, Va., the company has more than 4,700 employees at over 100 locations in the U.S. and worldwide.
7/16/09
THE EVERMEDIA GROUP FINALIZES AGREEMENT TO ACQUIRE EQUITY STAKE IN DEFENSE CONTRACTING COMPANY
New York, NY--July 16, 2009--The officers and directors of The Evermedia Group, Inc. (PINKSHEETS: EVRM) met last week to finalize the terms by which the Company will acquire a forty percent equity position in STS Evermedia Corporation, the holding company of the defense contractor, System Technology Solutions, Inc. (STS). This development follows a Letter of Intent agreed to by all parties on May 16, 2009 which set forth general plans to formalize the corporate association between Evermedia Biometrics and STS.
Jonathan Sym, CEO of The Evermedia Group indicated that “both companies were incredibly excited to see this deal close and everyone expects great opportunities to emerge soon. We also began discussions to acquire an additional forty percent of the common shares in the near future and it looks positive that we can come to a mutually beneficial agreement to increase shareholder value for both companies. ”
Richard Weitzel, CEO of System Technology Solutions, commented on the acquisition saying “both Evermedia Biometrics and STS enjoy valuable, highly specialized assets, and by consolidating certain operational and contracting elements between the two companies, we can maximize our strengths and expand our services. We are also revising our initial revenue estimates as we predict much greater opportunities in FY 2010. Details on this and other developments are forthcoming. ”
Richard Weitzel received his Bachelors degree from the University of Texas, Austin and his MBA from the University of Southern California. He is a retired U.S. Air Force Lieutenant Colonel with 30 years of experience in defense contracting managing contracts during this tenure with all U.S. military agencies, various Fortune 500 defense contractors and several Department of Defense entities. Weitzel possesses a Top Secret Clearance.
5/12/09
THE EVERMEDIA GROUP SIGNS LETTER OF INTENT TO ACQUIRE STAKE IN DEFENSE CONTRACTING COMPANY
NEW YORK, NY—May 12, 2009-- The Evermedia Group, Inc. (PINKSHEETS: EVRM) announces it has entered into a Letter of Intent to acquire a significant equity position in STS Evermedia Corporation (PINKSHEETS: SEVM), the holding company of System Technology Solutions, Inc. (STS). The deal structure will allow The Evermedia Group to immediately acquire 37% of SEVM with the possibility of acquiring additional shares to become the majority shareholder if certain financial, personnel and valuation conditions are met. Both companies will operate as separate and distinct entities but will enter into exclusive and non-exclusive agreements to support joint defense related and security contracting efforts. The overarching goal is to improve corporate alignment and processes, streamline operations and administration, and further develop contracting relationships.
“Although we decided to split operations last year, allowing each company to focus on its respective core business, we have maintained a close and unique connection. We expect the government to continue investment in security, information technology, and infrastructure, and accordingly, it only makes sense to enhance our relationship and continue our work together,” said Jonathan Sym, CEO of The Evermedia Group and STS Evermedia Corporation. “Since last year, STS’s revenues have experienced significant growth. They have won key contracts and task orders as well as joining several teams with Fortune 1000 companies. I think by the end of 2010, STS can possibility exceed $10,000,000 in revenues.”
According to the U.S. Small Business Administration, the Federal Government is the largest buyer of goods and services with purchases totaling more than $425 billion per year. Federal agencies are required to establish contracting goals with at least 23% of all government-buying targeted to small firms. This government initiative includes the Biometric Operational Support and Services-Unrestricted (BOSS-U) Contract. BOSS-U carries a dollar value ceiling of $497 million and stipulates a small business participation goal of 25%. Under BOSS-U, Evermedia Biometrics will provide support services as needed to EDS, an HP Company.
