NEW YORK, June 21, 2007 (PRIME NEWSWIRE) -- Zanett, Inc. (Nasdaq:ZANE) announced today that its Paragon Dynamics, Inc. ("PDI") Government Solutions Unit has been awarded a contract by NATO to provide contract management and engineering support services across the organization.
Under the terms of the contract, PDI will provide business process re-engineering services in connection with the NATO acquisition life cycle as well as assess existing NATO-wide contracts for products and services cost, value and suitability.
Paragon Broadens Its Growth Strategy
"As part of our growth strategy, and in response to client demand, we are developing a number of new services and solutions that broaden our presence and the way in which we can help our intermediate and end-user customers," stated Doug Hartmann, CEO of Paragon. "This contract at NATO represents the first implementation of a valuable new service that complements Paragon's existing national defense systems engineering capabilities," he explained.
European Footprint Established
"In addition, this contract award has driven the establishment of a new, centrally located, European office for the company that will enable PDI to leverage other international opportunities with similar customers," Hartmann elaborated. "In short, we are now positioned to expand our systems engineering and contracts management expertise across a much larger group of international customers while meeting the growing needs of current customers," he concluded. The terms of the contract was not disclosed at this time; however it is expected that this will become a long term effort spanning several international locations.
The Supreme Headquarters Allied Powers Europe (SHAPE) near Mons, Belgium is the Headquarters of Allied Command Operations (ACO), one of NATO's two strategic military commands. It performs the operational duties previously undertaken by Allied Command Europe and Allied Command Atlantic. The latter has now become Allied Command Transformation (ACT) headquartered in Norfolk, Virginia. Commanded by Supreme Allied Commander Transformation (SACT), it is responsible for promoting and overseeing the continuing transformation of Alliance forces and capabilities, especially through training and development of concepts and doctrine.
ACO is commanded by the Supreme Allied Commander Europe (SACEUR) and responsible for all Alliance operations, ranging from the Straits of Gibraltar to Afghanistan.
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About Paragon Dynamics, Inc. (www.paragondynamics.com )
Paragon Dynamics, Inc. (PDI) is a wholly-owned subsidiary of Zanett, Inc. and is a Systems, Software and Analytical Engineering Services company that provides technical expertise and engineering solutions to national systems and aerospace programs. The dedicated professionals at PDI consist of highly qualified engineers with direct experience in government and commercial satellite, DoD Intelligence, and IT infrastructure programs.
Our projects -- past and present -- include: on-orbit space programs; ground based processing programs; command, control, communication and computer system development programs; and analysis, design and integration programs. The PDI staff of professional engineers, scientists, and project managers possess extensive experience in all aspects of systems development from conception to implementation of major national and international IT satellite systems. We are currently performing system engineering and integration, software development, strategic planning and program management, and mission operations and engineering tasks on several DoD Intel contracts.
The Company is strategically located in major defense and mission operational hubs - Colorado, California, and the Washington, DC metro area - to completely serve our customer segments.
About Zanett, Inc. (www.zanett.com)
Zanett is an information technology ("IT") holding company that through its operating subsidiaries provides specialized IT services to Fortune 500 caliber companies and large Government agencies.
The Company model seeks to preserve the culture, management and business practices that contributed to the success of the acquired entities while leveraging cross-selling opportunities and achieving economies of scale. Although each Business Unit continues to market its own services and individually manage its own client relationships post acquisition, each Business Unit also becomes a source of leads to each operating company. The Company encourages collaboration, knowledge-transfer, resource sharing and cross marketing among Business Units, while seeking to preserve their autonomy and individual strengths. To facilitate this collaborative process, regular meetings are attended by the heads of each Business Unit and corporate management. The Company's overarching mission is to offer solutions that meet or exceed client expectations, are delivered on time and within budget, and achieve superior results.