BANCTEC ANNOUNCES $14.0 MILLION AGREEMENT WITH MARTIN MARIETTA TO PROVIDE NETWORK SERVICES TO H.U.D.
DALLAS, Oct. 5 /PRNewswire/ -- BancTec, Inc. (NASDAQ: BTEC) announced that it has signed a four-year agreement with Martin Marietta Information Systems of Washington to provide network support services for the United States Department of Housing and Urban Development's (HUD) national computer network. In October 1992, BancTec was awarded an initial one-year contract from Martin Marietta, a national systems integrator, to provide network support at HUD offices throughout the United States. This new four-year contract, valued at over $3.5 million per year, is the first multi-year contract ever awarded for HUD PC and network support. Ned Cooper, vice president and program manager at Martin Marietta, stated, "BancTec's expertise in providing support services to PC network users was evident in the initial contract. Our evaluation of vendors for the subsequent contract focused on technical expertise, management ability and cost effectiveness. BancTec did an excellent job in the first year of our business relationship and was the clear winner in the evaluation of vendors for this new contract." Under the terms of the agreement, BancTec will provide support services for approximately 17,000 PCs, 300 file servers, multiple local area networks (LANs) and associated peripherals and printers at HUD offices in over 100 U.S. cities. BancTec currently provides network support services for hundreds of government agencies, universities, Fortune 500 companies and other multi-site organizations. Grahame N. Clark Jr., BancTec's chairman and chief executive officer, stated, "As companies increase their reliance on computer networks for business critical applications, demand for network services will continue to grow. Any prolonged downtime on an intra-company network is usually very costly in terms of lost productivity. Because of our presence in virtually every major U.S. city, BancTec can offer comprehensive, consistent support for all types of PCs, LANs and peripheral equipment. This nationwide service is a key advantage that makes BancTec's network services attractive to large national corporations." BancTec is also a major independent provider of service and support to users of Novell networks and is the national service provider for Dell Computer Corporation. In addition to its expertise in network services, BancTec is a leading worldwide provider of integrated financial transaction processing systems, application software and support services. BancTec develops image-based and data capture solutions for the banking, financial services, retail, insurance, government, utility and telecommunications industries. The company also designs and manufactures document processing equipment for OEM customers. -0- 10/5/93 /CONTACT: Gary Robinson, senior vice president and CFO of BancTec, 214-450-7753/ (BTEC ML)
CO: BancTec, Inc.; Martin Marietta Information Systems ST: Texas, District of Columbia IN: CPR SU:
MP -- NY024 -- 8768 10/05/93 10:05 EDT
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|Date:||Oct 5, 1993|
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