CHANTILLY, Va., Jan. 19 /PRNewswire-FirstCall/ -- TechTeam Government Solutions, Inc., a wholly-owned subsidiary of TechTeam Global, Inc. (Nasdaq: TEAM), announced today that its Vector Research Center division has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract with the Defense Energy Support Center (DESC) for management support services, analyses and studies. The contract vehicle has a potential value of up to $15 million over five years.
Through the contract, Vector Research Center will support DESC with consulting services such as business case analysis, Lean Six Sigma and process improvement analysis, organizational alignment studies, operational analysis, acquisition policy compliance, and requirements determination to support DESC's mission to deliver comprehensive, effective and efficient energy solutions to the Department of Defense and other government agencies. The services will be accessible at any of DESC's business offices, regional offices or military base-level operations.
"The federal government is characterized by persistent change, and we know that agencies must continuously adapt to ever-evolving mandates, policies, priorities, systems, technologies and business processes, especially in the energy field," said David Kriegman, president of TechTeam Government Solutions. "Using Vector Research Center's leading edge research and innovation, as well as our world-class program management and consulting skills, we look forward to helping DESC meet its mission: to support the warfighter and manage the energy sources of the future."
About TechTeam Government Solutions, Inc.
TechTeam Government Solutions provides IT-based services to DoD, Federal Civilian, and state and local agencies. TechTeam has core competencies in cyber security, network engineering, ITIL®-based managed services, enterprise architecture, net-centric operations, and modeling and simulation sciences. For information about TechTeam Government Solutions, Inc., please call 800-275-1177 or visit www.techteamgovt.com.
About TechTeam Global, Inc.
TechTeam Global, Inc. is a leading provider of IT outsourcing and business process outsourcing services to large and medium businesses, as well as government organizations. The company's primary services include service desk, technical support, desk-side support, security administration, infrastructure management and related professional services. TechTeam also provides a number of specialized, value-added services in specific vertical markets. Founded in 1979, TechTeam has nearly 3,000 employees across the world, providing IT support in 32 languages. TechTeam's common stock is traded on the NASDAQ Global Market under the symbol "TEAM." For more information, call 800-522-4451 or visit www.techteam.com.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Specifically, this award is not a guarantee that TechTeam Government Solutions will be able to secure business under the contract vehicle. Rather, the award allows TechTeam Government Solutions to bid on requests for proposals issued by various government agencies over the five-year life of the program. The Company will have to win the competitive bid process in order to obtain any portion of the potential program value noted herein as revenue. Further, if the Company wins an award, it will then have the risks incumbent in launching and managing work awarded under this program. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.
SOURCE TechTeam Government Solutions, Inc.