Colorado Department of Transportation Signs New Contract With ProStar Following Initial Five-Year Term
Rhea-AI Summary
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF) has announced that the Colorado Department of Transportation (CDOT) has extended its contract for ProStar's PointMan® software following a successful initial 5-year term. The renewal demonstrates CDOT's recognition of PointMan's value in managing critical infrastructure along interstate and railway right-of-ways, particularly in terms of damage prevention, construction management, efficiency, accuracy, and safety.
As part of the new contract procurement, ProStar was vetted and approved by Carahsoft Technology Corp., a trusted government IT solutions provider. This approval simplifies the procurement process for public sector organizations and potentially opens doors for broader adoption of PointMan by other government agencies across the U.S. and Canada.
Positive
- Contract renewal with Colorado Department of Transportation after successful 5-year term
- Approval by Carahsoft Technology Corp. as a trusted government IT solutions provider
- Potential for broader adoption of PointMan by other government agencies in the U.S. and Canada
Negative
- None.
News Market Reaction
On the day this news was published, MAPPF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
GRAND JUNCTION, Colo., Aug. 29, 2024 (GLOBE NEWSWIRE) -- ProStar Holdings Inc., (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce that Colorado DOT has extended its contract with ProStar’s following a successful initial 5-year term to license ProStar’s flagship cloud and mobile solution, PointMan®.
The Colorado Department of Transportation (CDOT) has reaffirmed its commitment to ProStar’s PointMan® software after an initial five-year term that demonstrated significant value in the management of critical infrastructure located along interstate and railway right-of-way’s. Recognizing the value that PointMan brings in terms of damage prevention, construction management, efficiency, accuracy, and safety, CDOT has renewed its contract, further solidifying its dedication to improving critical infrastructure management, and public and environmental safety throughout the state.
As part of the new contract procurement for CDOT, ProStar was vetted and approved by Carahsoft Technology Corp., a trusted government IT solutions provider. Carahsoft simplifies the procurement process for public sector organizations including federal, state, and local government agencies by approving vendors that provide IT solutions. Carahsoft partners with thousands of resellers, system integrators and MSPs to proactively market, sell and deploy a comprehensive range of IT solutions for public sector customers across the U.S. and Canada.
“Working with CDOT over the past five years has provided for a great partnership, and we are thrilled that they have extended their commitment, and I look forward to our continued partnership.” said Page Tucker, CEO of ProStar. “Having the continued endorsement of CDOT and partnering with Carahsoft increases the potential for broader adoption of PointMan by other government agencies across the U.S. and Canada.”
About Carahsoft:
Carahsoft Technology Corp. is The Trusted Public Sector IT Solutions Provider™, supporting Federal, State and Local Government agencies and Education and Healthcare markets. Founded in 2004, Carahsoft is headquartered in Reston, Virginia and employs more than 2,000 professionals dedicated to serving our public sector customers and partners. As the Master Government Aggregator® for their vendor partners, they deliver solutions for Cybersecurity, MultiCloud, DevSecOps, Big Data, Artificial Intelligence, Open Source, Customer Experience and more. Working with resellers, systems integrators and consultants, their sales and marketing teams provide industry leading IT products, services and training through hundreds of contracts.
About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.
ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.
For more information about ProStar, please visit www.prostarcorp.com.
Contact:
Page Tucker
CEO & Founder
ptucker@prostarcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time.
FAQ
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