Tellenger Wins Contract to Provide Modernization Capabilities in Support of Large Financial Program

FAIRFAX, Va., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Tellenger, Inc., a subsidiary of WaveDancer, Inc., (NASDAQ: WAVD) announced today that it was awarded a three-year contract by a large systems integrator to provide modernization support for a major financial program for a large U.S. Government (USG) customer. The company expects total revenues of $4M over the course of the contract’s period of performance.

Tellenger, a long-standing subcontractor partner to the USG customer, has been tasked to provide services to modernize a major financial system to allow for easier maintenance and greater reliability on a new platform. The effort will use new technology and products.

“The work we are doing in collaboration with our teaming partner will allow the system to provide users with greater flexibility in use and ready this critical government financial application for the future,” said Stan Reese, Tellenger’s President/CEO. “This substantial new award again 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. This will be the third modernization effort for this particular customer, with all systems back in production.”

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

Released September 28, 2023