Tellenger Wins Seven-Year U.S. Government Contract

Rhea-AI Summary

Tellenger, Inc. has been awarded a seven-year contract to support a major financial program for a large U.S. Government customer, with expected revenues between $12 and $15 million. The contract will involve modernizing financial systems and adding new functionality. This reinforces Tellenger's position as a leader in modernization and systems engineering.

Positive

• Tellenger, Inc. has been awarded a seven-year contract with expected revenues between $12 and $15 million.
• The contract will involve modernizing financial systems and adding new functionality.

Negative

• None.

Will Provide Modernization Capabilities in Support of Large Financial Program

FAIRFAX, Va., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Tellenger, Inc., a subsidiary of WaveDancer, Inc., (NASDAQ: WAVD) announced today that it was awarded a seven-year contract by a large systems integrator to continue supporting a major financial program for a large U.S. Government (USG) customer. The company expects total revenues between $12 and $15 million over the course of the contract’s period of performance.

Tellenger, a long-standing subcontractor partner to the USG customer, was originally tasked with modernizing the financial systems to allow for easier maintenance and greater reliability. This new multi-year award will continue enhancements in support of that effort, as well as add new functionality to advance the applications.

“The work we are doing in collaboration with our teaming partner will ready this critical government financial application for the future,” said Stan Reese, Tellenger’s President/CEO. “This substantial new award reinforces Tellenger’s position as a leader in modernization and systems engineering. It is a testament to the significant value we bring to customers and partners through a commitment to delivering meaningful ROI with everything we do.”

About Tellenger
Tellenger (www.tellenger.com), a wholly owned subsidiary of WaveDancer, Inc., is headquartered in Fairfax, VA and has been servicing federal and commercial customers since 1979. It provides modernization, software development, and cybersecurity services to help organizations meet their business goals through technology. Their software development processes are appraised at CMMI Level 3 for their ability to consistently deliver high-quality projects using metrics to proactively manage risk. From business process re-engineering to cloud migrations to SaaS implementations and more, Tellenger uses technology to help clients in the private and public sectors increase productivity, gain efficiencies, and achieve KPIs.

Additional information for investors
This release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2022 and in other filings with the Securities and Exchange Commission.

For investor inquiries contact:

Heather Tortorelli
htortorelli@wavedancer.com