SOURCE: ATS Corporation

January 29, 2007 16:22 ET

ATS Corporation Assigned New OTCBB Symbols in Connection With Its Name Change From Federal Services Acquisition Corporation to ATS Corporation

MCLEAN, VA -- (MARKET WIRE) -- January 29, 2007 -- ATS Corporation (OTCBB: ATCT) (OTCBB: ATCTU) (OTCBB: ATCTW) today announced that, in connection with its name change from Federal Services Acquisition Corporation (OTCBB: FDSA) (OTCBB: FDSAU) (OTCBB: FDSAW) to ATS Corporation, OTCBB has assigned new trading symbols that will take effect at the open of business on Tuesday, January 30, 2007. The Company's common stock, units and warrants will continue to trade on the over-the-counter bulletin board (OTCBB) under the new symbols ATCT, ATCTU and ATCTW, respectively.


ATS Corporation (formerly Federal Services Acquisition Corporation) operates through its subsidiaries, Advanced Technology Systems, Inc. and Appix, Inc.

Advanced Technology Systems, Inc. ("ATS") is a leading provider of systems integration and application development, IT infrastructure management and strategic IT consulting services to U.S. federal government agencies. Since its founding in 1978, ATS has been recognized for its custom software development and software integration capabilities and its deep domain expertise in federal government financial, human resource and data management systems.

ATS is currently executing on over 140 contracts for multiple civilian and defense agencies including: The Department of Homeland Security; The Office of the Secretary of Defense; Defense Logistics Agency; The U.S. Air Force; The Department of Housing and Urban Development; and Pension Benefit Guarantee Corporation. The majority of ATS' contractual relationships are long-term in nature, and many of its customer relationships have been in place for over a decade. ATS derived approximately 90% of its total revenue in fiscal 2005 from contracts with the U.S. government and government-sponsored enterprises. The majority of its work is performed under time and material (T&M) and fixed price contracts.

Over the past 28 years, ATS has built and implemented over 100 mission-critical systems for clients. This large installed base of work provides continuous opportunities for maintenance and upgrades, and positions ATS to address legacy software and systems issues and perform complex migration projects as clients move to next generation technologies. With over 600 employees possessing diverse, hard-to-replicate technical skills, institutional knowledge and insight accumulated over nearly three decades, ATS competes effectively for prime and sole source service contracts and has succeeded in recent years in expanding its reach and presence in the federal services market.

ATS' financial management software expertise assists clients preparing for the government's increased financial accountability standards. ATS' data management systems expertise allows clients to increase efficiency with better human resource and case management tracking capabilities, while also allowing them to organize and track information easily. Additionally, ATS' IT outsourcing capabilities provide ATS with an opportunity to develop long-term value added partnerships with clients that allow end-users and government agencies to focus on core mission priorities, while reducing expenditures on systems management.

In addition, ATS leverages its IT services, management consulting, and software and systems development solutions expertise into financial institutions, insurance companies and government sponsored enterprises through a wholly owned subsidiary, Appix, Inc. ("Appix"). Appix is one of the largest providers of outsourced professional services at Fannie Mae and currently serves many Fortune 500 financial services and insurance companies.

Additional information about ATS may be found at

Contact Information

  • Company Contact:
    Dr. Edward H. Bersoff
    Chairman, President and Chief Executive Officer
    ATS Corporation
    (703) 288-1949

    Investor Relations Contact:
    Laura Kowalcyk
    Investor Relations
    CJP Communications for ATS Corporation
    (212) 279-3115 ext. 209
    Email Contact