ATSC Announces Its Appix Mortgage Product Is Supporting the Fed’s $500 Billion MBS Purchase Program
MCLEAN, VA – February 26, 2009, ATS Corporation (“ATSC” or the “Company”) (OTCBB: ATCT), a leading information technology company delivering innovative technology solutions to government and commercial organizations, is pleased to announce that its Appix Mortgage product is handling approximately 25% of the volume of the historic Federal Reserve Bank’s $500 billion MBS purchase program through one of the Federal Reserve’s selected investment management firms.
With its innovative automation and turning capabilities, Appix Mortgage provides the foundation from which the investment management firm can readily take on the Federal Reserve Bank MBS purchase volume in addition to their own internal MBS trading volume.
“The selection of one of our clients as an investment management firm for the Federal Reserve’s MBS purchase program further confirms Appix Mortgage as a leader in the MBS marketplace. Our client was selected because it could support substantial transaction volume, leveraging the Appix Mortgage Product,” said Doug Starkey, Vice President of the ATSC Appix Financial Services Platform.
Appix Mortgage, one of three Appix Financial Services Platform products, supports institutional investors in the management and settlement of MBS trades, automating the TBA pool allocations and electronic pool substitution processes while maximizing portfolio gains by retaining valuable pools through innovative real-time relative value analysis.
About ATS Corporation
ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises. Headquartered in McLean, Virginia, the Company has more than 600 employees at 12 locations across the country.
Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 17, 2008, as amended on March 21, 2008 and April 4, 2008. In addition, the forward-looking statements included in this press release represent our views as of February 26, 2009. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to February 26, 2009.
Additional information about ATSC may be found at www.atsc.com.
Company Contact:
Joann O’Connell
Vice President, Investor Relations
ATS Corporation
(571) 766-2400
Media Contact:
Penny Parker
Corporate Communications Manager
ATS Corporation
(571) 766-2400