SYS Technologies Announces Defense Network Management Contracts Worth $1.6 Million
* Reuters is not responsible for the content in this press release.
-- Investment in dopplerVUE Broadens Next Generation Network
Management Product Suite --
SAN DIEGO--(Business Wire)--
SYS Technologies, Inc. ("SYS") (AMEX: SYS), a leading provider of
information connectivity solutions that enable situational awareness
and real-time collaboration, announced two separate agreements today
with an unnamed secure defense agency to use dopplerVUE as the
management software platform for its networks. These agreements for
both products and services are valued at approximately $1.6 million.
SYS, which recently signed an agreement to be acquired by Kratos
Defense Solutions (Nasdaq: KTOS), noted that the first agreement,
valued at approximately $1.1 million, is an expansion of the agency's
current relationship with SYS. The agency currently uses NeuralStar,
SYS' flagship network management solution, as the management platform
for their large, enterprise networks and will now incorporate
dopplerVUE into their network management framework. dopplerVUE has a
smaller footprint to better align with the operational needs of the
agency, including use with their tactical networks.
"The expanded relationship pairing dopplerVUE and NeuralStar is a
testament to the underlying architecture and their respective
strengths in meeting both strategic and tactical objectives," said
Cliff Cooke, CEO of SYS Technologies. "As the nation's defense comes
to rely more and more upon the net-centered applications and
communications, assuring the reliability and security of these systems
is imperative. SYS is proud to play a role in this essential service."
dopplerVUE is a next-generation network management tool,
integrating fault and performance with discovery and automated mapping
into a single unified dashboard across devices, applications and
services. With superior visibility and advanced monitoring features,
dopplerVUE brings the power of advanced features to networks directly
supporting the war fighter.
The second agreement, a two year services contract, has a base
year for 2008 and an option year for 2009. The base year has a ceiling
value of $0.5 million, and calls for SYS to provide local and on-site
engineering support as well as support for the NeuralStar and
dopplerVUE implementations.
About dopplerVUE
dopplerVUE is SYS Technologies' network management solution for
smaller and mid-sized organizations and enterprises. It is an easy to
use, quick to install solution that brings management and monitoring
features once available only in expensive enterprise solutions. Priced
and packaged for even small organizations, dopplerVUE delivers
unmatched visibility and self-aware monitoring that helps overburdened
management teams extend their reach and effectiveness. For more
information, visit www.dopplervue.com.
About SYS Technologies
SYS (AMEX: SYS) is a leading provider of information connectivity
solutions that capture, analyze and present real-time information to
our customers in the Department of Defense, Department of Homeland
Security, other government agencies and to commercial companies. Using
interoperable communications software, sensors, digital video
broadcast and surveillance technologies, wireless networks, network
management, decision-support tools and Net-centric technologies, our
technical experts enhance complex decision-making. We also provide
solution lifecycle support with program, financial, test and
logistical services and training. Founded in 1966, SYS is
headquartered in San Diego and has principal offices in California and
Virginia. For additional information, visit www.systechnologies.com.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) provides
mission critical engineering, IT services and war fighter solutions
for the U.S. federal government and for state and local agencies.
Principle services include C5ISR, weapon systems lifecycle support,
military weapon range and technical services, network engineering
services, advanced IT services, security and surveillance systems, and
critical infrastructure design and integration. The Company is
headquartered in San Diego, California, with resources throughout the
U.S. and in key strategic military locations. News and information are
available at www.kratosdefense.com.
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements
including, without limitation, expressed or implied statements
concerning the Company's expectations regarding the timing of closing
of the acquisition, anticipated benefits to be realized from the
acquisition, future financial performance and cash flows and market
developments that involve risks and uncertainties. Such statements are
only predictions, and the Company's actual results may differ
materially. Factors that may cause the Company's results to differ
include, but are not limited to: risks that the closing of the
proposed merger between SYS and Kratos will be delayed or that the
conditions to closing will not be satisfied; risks that the
integration will prove more costly, take more time, or be more
distracting than currently anticipated; risks that the transaction
will cause disruption of the Company's operations and distraction of
its management; risks of adverse regulatory action or litigation;
risks associated with debt leverage; risks that changes or cutbacks in
spending by the U.S. Department of Defense may occur, which could
cause delays or cancellations of key government contracts; failure to
successfully consummate acquisitions or integrate acquired operations
and competition in the marketplace which could reduce revenues and
profit margins. The Company undertakes no obligation to update any
forward-looking statements. These and other risk factors are more
fully discussed in the Company's Securities and Exchange Commission
filings.
Additional Information
In connection with the proposed acquisition of SYS by Kratos
Defense & Security Solutions, Inc. ("Kratos"), Kratos intends to file
with the U.S. Securities and Exchange Commission (the "SEC") a
registration statement on Form S-4, containing a joint proxy
statement/prospectus and other relevant materials. INVESTORS AND
SECURITY HOLDERS OF KRATOS AND SYS ARE URGED TO READ THE JOINT PROXY
STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN
IMPORTANT INFORMATION ABOUT KRATOS, SYS AND THE ACQUISITION. The joint
proxy statement/prospectus and other relevant materials (when they
become available), and any other documents filed by Kratos or SYS with
the SEC, may be obtained free of charge at the SEC's web site at
www.sec.gov. In addition, investors and security holders may obtain
free copies of the documents filed with the SEC by Kratos by directing
a request to: Kratos Defense & Security Solutions, Inc., 4810 Eastgate
Mall, San Diego, CA 92121, Attn: Investor Relations, or by going to
Kratos's corporate website at www.kratosdefense.com. Investors and
security holders may obtain free copies of the documents filed with
the SEC by SYS by contacting SYS Technologies, Inc., 5050 Murphy
Canyon Road, Suite 200, San Diego, CA 92123, Attn: Investor Relations,
or by going to SYS' corporate website at www.systechnologies.com.
Kratos, SYS and their respective executive officers and directors
may be deemed to be participants in the solicitation of proxies from
the stockholders of Kratos and SYS in favor of the acquisition.
Information about the executive officers and directors of Kratos is
set forth in the proxy statement for Kratos's 2007 Annual Meeting of
Stockholders, which was filed with the SEC on October 10, 2007.
Information about the executive officers and directors of SYS and
their ownership of SYS common stock is set forth in the proxy
statement for SYS's 2007 Annual Meeting of Stockholders, which was
filed with the SEC on October 29, 2007. Investors and security holders
may obtain more detailed information regarding the direct and indirect
interests of Kratos, SYS and their respective executive officers and
directors in the acquisition by reading the joint proxy
statement/prospectus regarding the acquisition when it becomes
available.
SYS Technologies, Inc.
Edward M. Lake, Chief Financial Officer
858-715-5500
investmentinfo@systechnologies.com
Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters