3 Feb 2010 07:00
3 February 2010
Sopheon Among Winners of Army Tank Automotive Research Development
and Engineering Center (TARDEC) Contract
Sopheon Teams with Concurrent Technologies Corporation and Twenty-Eight Others to Support Military Program for Development of Manned and Unmanned Vehicles
MINNEAPOLIS and LONDON-Feb. 3, 2010-Sopheon, the international provider of software and services for product lifecycle management, today announced that it is part of a team of organizations working with Concurrent Technologies Corporation (CTC) on a contract that CTC was awarded under the U.S. Army Tank Automotive Research Development and Engineering Center (TARDEC) Omnibus Program. The Program is intended to provide TARDEC with resources to augment its in-house capabilities in the development of manned and unmanned military ground vehicles.
The contract team of which Sopheon is a member under the TARDEC Omnibus Program encompasses 30 supplier and resource organizations led by Concurrent Technologies Corporation (CTC). The consortium includes large and small corporations, small disadvantaged businesses, not-for-profits and universities. The contract provides CTC with the opportunity to propose competitively on Cost Plus Fixed Fee (CPFF) and Firm Fixed Price (FFP) orders relating to TARDEC's overall mission as the U.S. government's primary research and development activity for military vehicle systems. The amount of business coming to Sopheon will depend on which CTC proposals are accepted by TARDEC. The contract is a five-year, multi-award, Indefinite Delivery Indefinite Quantity (IDIQ) agreement with a potential overall value to the consortium of up to $430 million.
TARDEC is part of the U.S. Army Research, Development and Engineering Command (RDECOM). It is the Department of Defense's full lifecycle engineering support provider for all manned and unmanned ground vehicle systems. TARDEC's mission includes working with Life Cycle Management Command (LCMC) and Training and Doctrine Command (TRADOC) stakeholders to maintain a strong, advanced science and technology base in order to address the warfighters' needs with innovative capabilities.
The TARDEC contract is the latest development in Sopheon's successful efforts to establish a strong business beachhead in aerospace and defense (A&D) markets. The company launched its strategy for entering the sector less than three years ago. Since that time, its base of A&D customers has grown steadily, including such organizations as BAE Systems, EG&G, Honeywell, Lockheed Martin, Northrop Grumman, QinetiQ, Textron and the U.S. Navy and Air Force. The U.S. Army's Ground Vehicle/Power and Mobility (GVPM) Program Office within TARDEC is also a user of Sopheon's software.
"Our strategic focus on A&D markets is still relatively young," said David Vangeison, Sopheon's director for federal, aerospace and defense markets. "But our early experience has validated that this will be an area of great opportunity for us in the years ahead. Sopheon's participation in TARDEC's Omnibus Program underscores our commitment to realizing this potential. Along with our teammates, we look forward to working closely with TARDEC to provide the resources they need to augment their existing capabilities."
Enquiries
| Barry Mence, Chairman | Sopheon plc | Tel : + 44 (0) 1483 685 735 |
| Arif Karimjee, CFO | Sopheon plc | Tel : + 44 (0) 1483 685 735 |
| Justine James / Kirsty Corcoran | Hansard Communications | Tel : + 44 (0) 207 245 1100 |
| Floor van Maaren | Citigate First Financial | Tel : + 31 (0) 205 754 010 |
| Sarah Jacobs | Seymour Pierce Corporate Finance | Tel: +44 (0) 20 7107 8000 |
About Concurrent Technologies Corporation
Concurrent Technologies Corporation (CTC) is an independent, nonprofit, applied scientific research and development professional services organization, providing innovative management and technology-based solutions to government and industry. As a nonprofit 501(c)(3) organization, CTC's primary purpose and programs are to undertake applied scientific research and development activities that service the public interest. For more information, please
visit www.ctc.com.
About Sopheon
Sopheon (LSE:SPE) is an international provider of product lifecycle management software and services that improve the business impact of product innovation. Sopheon's solutions automate and govern the innovation process, enabling companies to increase revenues and profits from new products. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com