|
Contact:
Bruce
Widener, CEO
502-657-3507
investors@askbeacon.com
Porter,
LeVay & Rose, Inc.
Marlon
Nurse, V.P. – Investor Relations
212-564-4700
Halliburton
Investor Relations
Geralyn
DeBusk, President, or Hala Elsherbini, COO
972-458-8000
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Beacon
Enterprise Solutions Awarded $7.2 Million Contract with Global
Fortune
100 Client
—
Marks Entry into Asia Pacific —
LOUISVILLE, KY, November 23, 2010 —
Beacon Enterprise Solutions Group, Inc. (OTC BB: BEAC) (www.askbeacon.com)
an emerging global leader in the design, implementation and management of high
performance Information Technology Systems (ITS) infrastructure solutions, has
been awarded a new contract with a Fortune 100 global pharmaceutical company
worth approximately $7.2 million over a two-year period.
“I am
proud to announce the receipt of a new ITS engagement with a large global
client,” said Bruce Widener, CEO of Beacon Enterprise
Solutions. “This contract represents approximately $7.2 million in
project revenue over the next two years and will be managed by our Service
Delivery Management (SDM) business unit. Beacon continues to win
additional project and contract services from major clients, which is a great
testimony to the talent of our professional services team and shows the
increasing confidence Fortune 100 clients have in outsourcing ITS
services.”
As part
of this engagement, Beacon will provide ITS services over the next two years in
a multi-phase approach. The project will provide ITS services in over
60 client locations, including North America as well as multiple sites in
Europe, Africa, Asia Pacific, Latin America and the Middle East. ITS
activities will include physical sites surveys to assess the ITS infrastructure
including the cable plant, network and supporting electrical power and
environmental requirements. In addition, Beacon will design and
engineer network diagrams, equipment specifications and network topology for the
various client facilities and provide project management for installation of
services.
Jerry
Bowman, COO of Beacon Enterprise Solutions said, “This contract is substantial
because it represents a significant expansion of project scope and will
contribute to the previously announced Aggregate Future Value of Project
Backlog, but also Beacon has realized and completed a portion of the
backlog. This engagement is another indicator of how clients are
relying on Beacon for their global ITS needs. Their satisfaction in
our services continues to result in incremental awards and projects in their
locations around the world. This contract is also of particular
strategic importance to us as it marks our entry into the Asia Pacific, an area,
we believe, which has significant potential for our business.”
On
February 17, 2010, Beacon announced an engagement for a multi-year global IP
telecom project with one of the world's largest pharmaceutical companies valued
at approximately $20 million. As part of that announcement, Beacon is
working with the global enterprise client to migrate their entire system to
Voice over IP (VoIP) by providing global LAN / WAN remediation and
upgrades. This new award increases the scope of work for ITS
infrastructure services to be delivered. Of the approximate $7.2
million in projected contract value, $4.3 million was included in the company’s
previously announced Aggregate Future Value of Project Backlog and approximately
$2.9 million represents additional value.
Aggregate
Future Value of Project Backlog
Aggregate
Future Value of Project Backlog reflects the projected revenue impact of
existing engagements over a one to four year period and is subject to change as
work is completed and/or the scope of various engagements changes over time.
This number includes the projected value of previously announced, multi-year ITS
managed services engagements as well as short-term projects for which the
Company has been engaged to provide ITS Engineering (IE), Service Delivery
Management (SDM), ITS Contract Services (ICS) and/or ITS Construction Management
(ICM).
About
Beacon Enterprise Solutions Group, Inc.
Beacon
Enterprise Solutions Group is an emerging global leader in the design,
implementation and management of high performance Information Technology Systems
(“ITS”) infrastructure solutions. Beacon offers fully integrated,
turnkey IT infrastructure solutions capable of fully servicing the largest
companies in the world as they increasingly outsource to reduce costs while
optimizing critical IT design and infrastructure management. Through an
integrated team approach, Beacon offers a broad range of products and services
including IT infrastructure design, implementation and management, application
development and voice/data/security system integration, installation and
maintenance. Beacon’s client roster includes state and local
agencies, educational institutions, and over 4,000 companies ranging in size
from mid-sized companies to the Fortune 500. Beacon is headquartered in
Louisville, Kentucky, with a regional headquarters in Dublin, Ireland, Prague,
Czech Republic and personnel located throughout the United States and
Europe.
For
additional information, please visit Beacon’s corporate website: www.askbeacon.com
This
press release may contain “forward looking statements.” Expressions of future
goals and similar expressions reflecting something other than historical fact
are intended to identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements may include, without limitation, statements about our market
opportunity, strategies, competition, expected activities and expenditures as we
pursue our business plan. Although we believe that the expectations
reflected in any forward looking statements are reasonable, we cannot predict
the effect that market conditions, customer acceptance of products, regulatory
issues, competitive factors, or other business circumstances and factors
described in our filings with the Securities and Exchange Commission may have on
our results. The company undertakes no obligation to revise or update
any forward-looking statements in order to reflect events or circumstances that
may arise after the date of this press release.
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