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Applied Digital Solutions' Unit - Pacific Decision Sciences Corp. - WinsFive-Year Contract Extension from Public Service Electric & Gas -PSE&G- of NewJersey
PALM BEACH, Fla., Nov 24, 2003 (BUSINESS WIRE) -- Applied Digital Solutions, Inc. (Nasdaq: ADSX), an advanced technology development company, today announced that its wholly owned subsidiary, Pacific Decision Sciences Corporation (PDSC), has won a five-year extension on its existing three-year contract with Public Service Electric and Gas (PSE&G), a subsidiary of Public Service Enterprise Group (PSEG).
Under the contract, which has an estimated value of $6 million, PDSC will provide maintenance and support for the PSE&G Gas Division's Service Management System (GSIMS). Applied Digital Solutions' PDSC unit is in the business of selling, maintaining and enhancing a suite of proprietary service automation software.
Public Service Enterprise Group (PSEG) is a $21 billion energy and energy services company with three major subsidiaries: PSE&G, a regulated electric and gas distribution business; PSEG Power, a major US power producer; and PSEG Energy Holdings, the parent of PSEG's other unregulated businesses including: PSEG Global, a major international developer and operator of power generation and distribution systems throughout the world, and PSEG Resources, which invests in energy-related financial transactions. The PSEG Services Corporation provides quality, value-added services to internal clients within the Enterprise family of companies. PSE&G has had a proud tradition of delivering safe, reliable gas and electricity to New Jersey customers. PSE&G serves 2 million electric customers and 1.6 million gas customers in New Jersey. These residential and business customers reside in a 2,600-square-mile diagonal corridor across the state from Bergen to Gloucester counties.
About Applied Digital Solutions, Inc.
Applied Digital Solutions is an advanced technology development company that focuses on a range of life-enhancing, personal safeguard technologies, early warning alert systems, miniaturized power sources and security monitoring systems combined with the comprehensive data management services required to support them. Through its Advanced Technology Group, the Company specializes in security-related data collection, value-added data intelligence and complex data delivery systems for a wide variety of end users including commercial operations, government agencies and consumers. Applied Digital Solutions owns a majority position in Digital Angel Corporation (AMEX: DOC). For more information, visit the Company's website at www.adsx.com.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
SOURCE: Applied Digital Solutions, Inc.