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General Dynamics to Proceed With All Cash Offer to Acquire CSRA

FALLS CHURCH, Va., March 18, 2018 -- General Dynamics intends to proceed with its tender offer to acquire all outstanding shares of CSRA Inc. (NYSE: CSRA) for $40.75 per share in cash. General Dynamics continues to believe that this combination creates a premier provider of high-tech IT solutions to the Government Technology Services market and that its proposed acquisition of CSRA offers superior value for CSRA's shareholders.

On February 12, 2018, General Dynamics and CSRA announced that they had entered into a definitive agreement under which General Dynamics would acquire CSRA for approximately $9.6 billion in cash, including the assumption of $2.8 billion in CSRA debt. The tender offer for CSRA shares commenced on March 5, 2018, and is scheduled to expire on April 2, 2018, at 11:59 p.m., New York City time, with the acquisition of CSRA expected to close shortly thereafter. As previously disclosed, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to the tender offer has expired.

On March 18, 2018, CACI International Inc announced an unsolicited offer proposing to acquire CSRA for a combination of CACI common stock based on a fixed exchange ratio of 0.184 shares of CACI stock for each share of CSRA common stock and $15.00 per share of cash. The offer implies current CSRA shareholders will own approximately 55 percent of the resulting entity.

General Dynamics believes strongly that its proposed acquisition of CSRA offers both superior and certain value for the CSRA shareholders for the following reasons:

  • We believe the nominal price of CACI's offer to CSRA overstates the real value to the CSRA shareholders and understates the risk attendant to it.
  • CACI's offer is comprised of $15.00 per share of cash, less than 35 percent of the purported value.
  • Over 65 percent of CACI's proposed consideration consists of a fixed exchange ratio of CACI stock, which is subject to daily market fluctuations and an estimated four-month delay at a minimum before its real value can be ascertained with certainty.
  • CACI's nominal $44.00 per share offer depends upon the all-time closing high share price of CACI's volatile common stock.
  • We believe that CACI's proposal would burden the resulting entity with approximately $6.8 billion of debt, which would result in leverage of approximately 5.7x debt to EBITDA, one of the highest in the Government Technology Services sector.
  • CACI's proposed offer would appear to be approximately 25 percent dilutive to CACI's GAAP earnings on a pro forma basis pre-synergies and also dilutive to CACI's GAAP earnings on a pro forma basis even assuming the elevated level of CACI's estimated cost synergies.
  • CACI's estimated synergies are, we believe, aggressive at best.
  • With CSRA shareholders owning 55 percent of the combined company, CSRA will bear the burden of 55 percent of the termination fee payable to General Dynamics as well as 55 percent of the transaction expenses, which we estimate for CSRA alone at a total potential after-tax cost of approximately $0.66 per share for each CSRA share. Assuming CACI's transaction expenses approximate CSRA's, the estimated total potential after-tax cost could be approximately $0.82 per share for each CSRA share.
  • Based on CACI's statement that it could close the acquisition of CSRA by July 31, 2018, the time value of money for an investor between early April and the closing of a CACI/CSRA combination would represent a significant opportunity cost.
  • Using the average trading price of CACI's stock over the past 30 trading days and taking into account the 55 percent of the transaction expenses and termination fee to be borne by the CSRA shareholders and the time value of money opportunity cost due to the significant delay in the closing of a proposed CACI transaction, we estimate the value of CACI's unsolicited offer to be less than the General Dynamics offer.
  • On this basis, we believe the CACI offer is inferior to our cash offer of $40.75 per share even prior to factoring in the significant market risk associated with a CACI transaction closing many months in the future with a fixed exchange ratio.

General Dynamics has a long history of successfully executing acquisitions in a timely and efficient manner and firmly believes that its offer is in the best interest of CSRA's shareholders, employees and customers.

About General Dynamics 
Headquartered in Falls Church, Virginia, General Dynamics (NYSE: GD) is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapon systems and munitions; C4ISR and IT solutions; and shipbuilding. The company's 2017 revenue was $31 billion. More information is available at www.generaldynamics.com.

Notice to Investors 
This press release is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of CSRA stock. On March 5, 2018, Red Hawk Enterprises Corp., a wholly owned subsidiary of General Dynamics ("Merger Sub"), commenced a tender offer to purchase all of the shares of common stock, par value $0.001 per share of CSRA, that are issued and outstanding, at a price per share of $40.75, in cash, without interest and less any applicable withholding of taxes. The tender offer expires at 11:59 p.m., New York City time, on Monday, April 2, 2018, unless extended. If the tender offer is extended, we will inform the depositary of that fact and will make a public announcement of the extension no later than 9:00 a.m., New York City time, on the business day after the day on which the tender offer was scheduled to expire. On March 5, 2018, Merger Sub filed a tender offer statement and related exhibits with the U.S. Securities and Exchange Commission (the "SEC") and on the same date CSRA filed a solicitation/recommendation statement with respect to the tender offer. Investors and shareholders of CSRA are strongly advised to read the tender offer statement (including the related exhibits) and the solicitation/recommendation statement, as they have been amended and may be amended from time to time, because they contain important information that shareholders should consider before making any decision regarding tendering their shares. The tender offer statement (including the related exhibits) and the solicitation/recommendation statement are available at no charge on the SEC's website at www.sec.gov. In addition, the tender offer statement and other documents that Merger Sub files with the SEC are available to all shareholders of CSRA free of charge at www.generaldynamics.com. The solicitation/recommendation statement and the other documents filed by CSRA with the SEC are available to all shareholders of CSRA free of charge at www.CSRA.com.

Certain statements made in this press release, including any statements as to future results of operations and financial projections, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, among other things, statements about the potential benefits of the proposed transaction; the prospective performance and outlook of the combined company's business, performance and opportunities, including the ability to deliver more innovative, leading-edge solutions; the ability of the parties to complete the proposed transaction and the expected timing of completion of the proposed transaction; as well as any assumptions underlying any of the foregoing. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. The following are some of the factors that could cause actual future results to differ materially from those expressed in any forward-looking statements: (i) uncertainties as to the timing of the tender offer and the merger; (ii) the risk that the proposed transaction may not be completed in a timely manner or at all; (iii) uncertainties as to the percentage of CSRA's shareholders tendering their shares in the tender offer; (iv) the possibility that competing offers or acquisition proposals for CSRA will be made; (v) the possibility that any or all of the various conditions to the consummation of the tender offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vii) the risk that shareholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; and (viii) other factors as set forth from time to time in General Dynamics and CSRA's filings with the SEC, including their respective Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, as well as the tender offer statement, solicitation/recommendation statement and other tender offer documents that will be filed by General Dynamics, Merger Sub and CSRA. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

All forward-looking statements speak only as of the date they were made. General Dynamics and Merger Sub do not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

 

SOURCE General Dynamics

Related Links

http://www.generaldynamics.com

KBRwyle Awarded $34.1M to Help Air Force with Air Traffic Safety and Cyber Threats

HOUSTON, March 19, 2018 -- KBR, Inc. (NYSE: KBR) announced today that its global Government Services business, KBRwyle, has been awarded a $34.1 million task order to provide analytical and engineering weapons systems support to assist the U.S. Air Force (USAF) with air traffic safety and cyber threats

Specifically, KBRwyle's work will support the USAF's Life Cycle Management Center (AFLCMC) Engineering Directorate's Engineering and Communication Network Branch. This branch provides engineering, integration, technical advice, and direction to all AFLCMC weapon system program offices and other organizations.

KBRwyle will provide a range of services, including system engineering analyses, cybersecurity assessments, cyber resiliency strategy development, and Air Traffic Management / Identification Friend or Foe (ATM/IFF) component testing and certification for DoD and foreign military sales requirements.

KBRwyle will primarily perform this work at Wright Patterson Air Force Base in Ohio and Warner Robins Air Force Base in Georgia. The task order award period is 54 months.

The Air Force awarded this cost-plus-fixed-fee task order under the DoD's Information Analysis Center's (IAC) Defense Systems Technical Area Task (DSTAT) multi-award contract. KBRwyle won a seat on the DSTAT contract in June 2014.        

"From defending against cyber threats to ensuring air traffic safety, KBRwyle is committed to supporting the Air Force through this new contract," said Byron Bright, KBRwyle President. "Our depth of technical and programmatic experience and engineering expertise makes us uniquely qualified to fill this role."

KBRwyle has performed ATM / IFF certification analysis support for 30 years. KBRwyle is a leading systems engineering and integration provider to the U.S. military, and has supported more than 135 aircraft platforms.

Revenue associated with this contract award will be booked into the backlog of unfilled orders for KBR's Government Services business segment.

About DoD IAC Program
The DoD IAC program operates as a part of Defense Technical Information Center and provides technical data management and research support for DoD and federal government users. Established in the 1940s, the IAC program serves the DoD science & technology (S&T) and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader S&T community.

About KBR, Inc.
KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:

  • Government Services, serving government customers globally, including capabilities that cover the full life-cycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
  • Technology & Consulting, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consulting
  • Engineering & Construction, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU) and program management

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery and long term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

 

SOURCE KBR, Inc.

Related Links

http://www.kbr.com

Chiron Awarded Five Year Cybersecurity Training Contract with Department of Defense

COLUMBIA, Md., March 19, 2018 -- Chiron Technology Services, Inc., a leading provider of advanced cyber services and training to government and commercial clients, has been awarded a five-year, sole-source contract by the Department of Defense. This contract was awarded to deliver relevant cyber training that supports the readiness of U.S. military forces to operate with decisive advantages in cyberspace.

"As the cyber mission continues to expand and evolve so too have our training services. Our customers have increasingly seen the value in performance based, work-role training that utilizes both asynchronous online and traditional classroom modes" stated Jeff Weaver, CEO of Chiron. "This contract award highlights Chiron's dedication to ensuring DoD Cyber personnel are receiving the best learning methodologies aligned to their operational mission."

About Chiron Technical Services, Inc.

Chiron Technology Services, Inc. is a leading cybersecurity firm that provides training and customized engineering services designed to identify and solve our public and private sector clients' most difficult challenges.

 

Contact: 

Mark DiFilippo

 

Vice President, Information Operations

 

410-672-1522

 

[email protected]

 

SOURCE Chiron Technology Services, Inc.

Netwrix Sustains Momentum as the Fastest-Growing Company Honored by Inc 5000 and Deloitte

IRVINE, Calif. -- Netwrix Corporation, provider of a visibility platform for user behavior analysis and risk mitigation in hybrid environments, today announced strong 2017 results, including 35% revenue growth in Q4 2017 and substantial revenue increase in multiple industries, such as finance, healthcare, and energy & utilities. Named one of the fastest-growing companies in North America, Netwrix reported considerable growth across Asia Pacific, France, Belgium and other regions, as well as substantial upgrades to the Netwrix Auditor platform and new partnerships.

Market momentum
"2017 was remarkable for the global rise in ransomware, as well as several headline-making breaches that resulted in tremendous damage to sensitive data, such as Equifax case. Growing cyber threats and increasing complexity of IT environments are forcing organizations to revise their IT security practices and become more vigilant about what's going on in their IT environments. We expect a rise in demand for products that enable companies to keep user activity under control and evaluate risks to their systems and data, so they can spot and fix security gaps before hackers take advantage of them
," said Michael Fimin, CEO and co-founder of Netwrix.

  • The company demonstrated 27% year-to-year growth, thanks to rapid expansion both in the U.S. and globally. Revenue increased by 35% in Q4 2017.
  • Netwrix showed substantial growth in Asia Pacific (124%) and Australia (81%) compared to Q4 2016. Netwrix also reported huge quarter-over-quarter revenue increases in France (392%), Belgium (506%) and Australia (101%).
  • The growing market demand for solutions that mitigate security risks enabled Netwrix to demonstrate growth across multiple industries in Q4 2017, including finance (93%), energy & utilities (80%), healthcare (58%) and consumer goods (55%). Netwrix also showed remarkable year-to-year growth in the healthcare (51%), technology (50%) and financial (32%) sectors.
  • Netwrix increased its customer base by 37% over the year by adding more than 1,500 customers, including Lima Memorial Health System, Miller Johnson, World Travel Holdings, Tax Defense Network and Linearizer Technology, Inc.
  • In February 2017, Netwrix received a Series A funding round from Updata Partners, a leading technology growth equity firm. This partnership with Updata empowered Netwrix to accelerate global expansion and support product development.

Product releases

  • In May 2017, the company launched Netwrix Auditor 9.0, which enables organizations to respond to ransomware and aberrant insider activity faster. The new capabilities include alerts on threat patterns, an add-on for Cisco devices, role-based access control (RBAC), and new compliance reports for GDPR, CJIS, GLBA, FERPA and NERC CIP.
  • In November 2017, Netwrix released Netwrix Auditor 9.5. Its risk assessment, behavior anomaly discovery and permissions analysis capabilities enable companies to proactively reduce risks and spot attackers in their IT environment.

New partnerships and appointments

  • In October 2017, Netwrix became an Oracle PartnerNetwork Silver Level Partner. This partnership enables Netwrix to receive assistance from Oracle experts to help customers mitigate security risks to their structured data.

Research

Industry recognition

  • Netwrix was mentioned in industry analyst reports by Gartner, Ovum, IDC and Juniper.
  • In November 2017, Netwrix was recognized as one of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America on Deloitte's Technology Fast 500™ list.
  • Netwrix was included in the Inc. 5000 list of the fastest-growing companies in America for the sixth time in a row.
  • Netwrix was named to the Software 500 list of the 500 largest software and service providers in the world for the fourth time in a row.  
  • Netwrix was named a finalist for the SC Awards U.S. in two categories — Best Database Security Solution and Best Regulatory Compliance solution — for the second consecutive year.
  • Netwrix exhibited at major industry events, including the RSA Conference in the US and Asia Pacific, and Microsoft Ignite in the US and Australia.

About Netwrix Corporation

Netwrix Corporation was the first vendor to introduce a visibility and governance platform for hybrid cloud security. More than 160,000 IT departments worldwide rely on Netwrix to detect insider threats on premises and in the cloud, pass compliance audits with less effort and expense, and increase productivity of IT security and operations teams. Founded in 2006, Netwrix has earned more than 100 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S. For more information, visit www.netwrix.com

CONTACT:
Erin Jones
Avista PR for Netwrix
P: 704.664.2170
E: [email protected]

SOURCE Netwrix Corporation

Related Links

http://www.netwrix.com

New Lockheed Martin Readiness Contract Strengthens Sustainment Industry

ORLANDO, Fla., March 16, 2018 -- Lockheed Martin (NYSE: LMT) was awarded a seven-year, $3.53 billion contract to globally sustain more than 300,000 fielded Training Aids, Devices, Simulators and Simulations (TADSS), including live-fire ranges and instrumentation systems. The Army Contracting Command – Orlando, in support of the U.S. Army Program Executive Office for Simulation, Training and Instrumentation (PEO STRI) awarded the Army TADSS Maintenance Program (ATMP) contract.

ATMP allows maintainers to use mobile devices with advanced management information technology to efficiently and effectively track and maintain a wide range of training systems. This allows the Army to have maximum operational awareness and make informed decisions using on-demand access to accurate, complete and timely data.

"Lockheed Martin is proud of the trust and confidence the Army shows in us by selecting us to provide a worldwide, integrated, one-stop training systems maintenance and sustainment program," said Amy Gowder, general manager and vice president, Lockheed Martin Training and Logistics Solutions. "Along with supporting efficient readiness and training, ATMP will maintain thousands of jobs supporting direct TADSS sustainment, while bolstering other jobs across the U.S. in the TADSS supply chain."

This contract brings together Lockheed Martin with teammates PULAU Corporation, Cubic Global Defense, and several large and small businesses, which specialize in TADSS maintenance and sustainment, through a mobile, technology-enabled workforce. The ATMP contract will employ thousands of people when fully implemented. 

For additional information, visit LockheedMartin.com/ATMP

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

About PULAU Corporation
PULAU Corporation is a full-spectrum training and logistics services company providing training and logistics services. As a family-owned and -operated company with 40 years of experience, PULAU embraces its founding principles of providing high quality services and outstanding customer support and service.

About Cubic Global Defense
Cubic Global Defense, a business division of Cubic Corporation (NYSE: CUB), is a leading provider of live, virtual, constructive and game-based training solutions, special operations and intelligence for the U.S. and allied forces. For more information about Cubic, please visit the company's website at www.cubic.com.

 

SOURCE Lockheed Martin

Related Links

http://www.lockheedmartin.com

Chief Executive and Four Associates Indicted for Conspiring with Global Drug Traffickers by Providing Encryption Services to Evade Law Enforcement and Obstruct Justice

Vincent Ramos, the chief executive of Canada-based Phantom Secure, and four of his associates were indicted by a federal grand jury today on charges that they knowingly and intentionally participated in a criminal enterprise that facilitated the transnational importation and distribution of narcotics through the sale and service of encrypted communications.

This is the first time the U.S. government has targeted a company and its principals for knowingly and intentionally conspiring with criminal organizations by providing them with the technological tools to evade law enforcement and obstruct justice while committing transnational drug trafficking.

“With one American dying of a drug overdose every nine minutes, our great nation is suffering the deadliest drug epidemic in our history,” said Attorney General Jeff Sessions. “Incredibly, some have sought to profit off of this crisis, including by specifically taking advantage of encryption technologies to further criminal activity, and to obstruct, impede, and evade law enforcement, as this case illustrates.  The Department of Justice will aggressively prosecute not just drug traffickers, but those who help them spread addiction and death in our communities. I want to thank the FBI, DEA, Customs and Border Protection, Homeland Security Investigations, Washington State Police, the Bellingham and Blaine Police Departments, and all of our law enforcement partners around the world, including Australia, Canada, Panama, Hong Kong, and Thailand for their hard work on this case. Today's indictment sends a clear message that drug traffickers and criminals cannot hide, because we will hunt them down and find them wherever they are.”

“When criminals go dark, and law enforcement cannot monitor their phones or access evidence, crimes cannot be solved, criminals cannot be stopped and lives can be lost,” said U.S. Attorney Adam Braverman. “As a result of this groundbreaking prosecution, we will disable the communication infrastructure provided by a criminal enterprise to drug traffickers and other violent criminals. Phantom Secure was designed to profit off of criminal activity committed by transnational criminal organizations around the world. We are committed to shutting these criminals down.”

“The indictment of Vincent Ramos and his associates is a milestone against transnational crime,” said FBI Director Christopher Wray.  “Phantom Secure allegedly provided a service designed to allow criminals the world over to evade law enforcement to traffic drugs and commit acts of violent crime without detection. Ramos and his company made millions off this criminal activity, and our takedown sends a serious message to those who exploit encryption to go dark on law enforcement. I want to thank our partners at the Department of Justice, as well as our Australian and Canadian law enforcement partners, for their incredible work on this case.”

Ramos was taken into custody in Bellingham, Washington, on March 7.  Ramos made his first appearance in the Western District of Washington and will face charges in San Diego. The remaining four defendants are fugitives.

According to court documents, Phantom Secure advertised its products as impervious to decryption, wiretapping or legal third-party records requests. Phantom Secure also guaranteed the destruction of evidence contained within a device if it was compromised, either by an informant or because it fell into the hands of law enforcement.  

The indictment alleges that as a result of its efforts to facilitate international crime, Phantom Secure has generated approximately $80 million in annual revenue since 2008 and facilitated drug trafficking, obstruction of justice, and violent crime around the world. 

The international operation to arrest the company’s chief executive and seize Phantom Secure’s infrastructure involved cooperation and efforts by law enforcement authorities in the United States, Australia, Canada, with additional assistance from U.S. and foreign law enforcement in Panama, Hong Kong, and Thailand. 

Over the past two weeks, in cooperation with Australian Federal Police and Royal Canadian Mounted Police, more than 250 agents around the globe conducted approximately 25 searches of houses and offices of Phantom Secure associates in Los Angeles, Las Vegas, Miami, and in Australia and Canada, seizing Phantom Secure devices, assets, and evidence of the charged crimes.  The coordinated effort led to the seizure of servers, computers, cell phones, and Phantom Secure devices used to operate the Phantom Secure network, as well as drugs and weapons. 

Ramos and the others - Kim Augustus Rodd, Younes Nasri, Michael Gamboa and Christopher Poquiz - are charged with participating in and aiding and abetting a racketeering enterprise and conspiring to import and distribute controlled substances around the world. The defendants have been charged with Conspiracy to Commit RICO in violation of 18 U.S.C. § 1962 and Conspiracy to Aid and Abet the Distribution of Controlled Substances in violation of 21 U.S.C.  § 841 and 846.

Authorities have seized Phantom Secure’s property, including more than 150 domains and licenses which were being used by transnational criminal organizations to send and receive encrypted messages. Authorities also seized bank accounts and property in Los Angeles, California and Las Vegas, Nevada.   

This case stems from an investigation in the Southern District of California of a Phantom Secure client who used Phantom devices to coordinate shipments of thousands of kilograms of cocaine and other drugs throughout the globe.  According to court documents, there were an estimated 10,000 to 20,000 Phantom devices in use worldwide before the authorities dismantled the company. This coordinated action means Phantom Secure’s clients can no longer use these devices to commit crimes.

According to Timothy O’Connor, Executive Director of the Criminal Investigations Division New South Wales Crime Commission, “The disruption of the Phantom Secure platform has been one of the most significant blows to organized crime in Australia.”    

In addition to our foreign law enforcement partners, the U.S. Attorney’s Office further recognizes the support and assistance of the U.S. Drug Enforcement Administration; Customs and Border Protection; the Department of Homeland Security; Seattle and Las Vegas field office of the Federal Bureau of Investigation; the Washington State Police Department; the City of Bellingham, Washington Police Department; the City of Blaine, Washington Police Department; and the Canada Border Services Agency, among others, without whose help this prosecution could not have been possible.

Speaking on behalf of Australian law enforcement authorities, Australian Federal Police (AFP) Assistant Commissioner Organised Crime, Neil Gaughan said today Australia’s role in this complex and unique investigation began in early 2017 following an exchange of intelligence with the FBI and Royal Canadian Mounted Police (RCMP).

As a result, Australian authorities executed 19 search warrants across four states last week as part of the international action, where more than 1,000 encrypted mobile devices were seized.

“The action taken in the U.S. directly impacts the upper echelons of organized crime both here in Australia and offshore, who until now have been able to confidently control and direct illicit activity like drug importations, money laundering and associated serious criminal offending,” said Assistant Commissioner Gaughan.

“Our thanks go to our international partners – the FBI and RCMP – who have been outstanding in working methodically around the clock together with us on this unique investigation. Without their cooperation, commitment and shared singular drive, Australian law enforcement agencies would not be announcing this significant result today.”

Australian agencies involved in this investigation include the Australian Criminal Intelligence Commission, the New South Wales Crime Commission, state police from New South Wales, Victoria, Queensland, South Australia and Western Australia, the Australian Tax Office and financial intelligence agency AUSTRAC.

“This investigation is a prime example of law enforcement agencies from around the world working together to identify, investigate and charge people involved in transnational criminal activity,” says Assistant Commissioner Jim Gresham, RCMP Criminal Operations Officer, Investigative Services and Organized Crime. “We remain committed to investigating and disrupting these illegal activities that adversely affect each of our communities.”

This case is the result of ongoing efforts by the Organized Crime Drug Enforcement Task Force (OCDETF), a partnership that brings together the combined expertise and unique abilities of federal, state and local law enforcement agencies. The principal mission of the OCDETF program is to identify, disrupt, dismantle and prosecute high-level members of drug trafficking, weapons trafficking and money laundering organizations and enterprises.

The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.


DEFENDANTS                                

Vincent Ramos (1)                              Richmond, British Columbia Canada
   aka “CEO”
   aka “Business”

Kim Augustus Rodd (2)                      Phuket, Thailand
   aka Visith Vongthai
   aka “Snowstar”
   aka “Global”

Younes Nasri (3)                                 Dubai, United Arab Emirates
   aka “Maestro”
   aka “Jesse”

Michael Gamboa (4)                           Los Angeles, CA
   aka “Chino”

Christopher Poquiz (5)                       Los Angeles, CA
   aka “Caddy”
   aka “Cad”


SUMMARY OF CHARGES

Racketeering Conspiracy to Conduct Enterprise Affairs (RICO Conspiracy), in violation of 18 USC §1962(d)
Maximum Penalty: Life in prison

Conspiracy to Aid and Abet the Distribution of Narcotics, in violation of 21 USC §841 and 846; Title 18 USC §2
Maximum Penalty: Life in prison

Guardian Alliance Technologies - a Leader in Public Safety Background Software - Announces the Launch of a New Investigations Division: Guardian Alliance Investigations LLC

STOCKTON, Calif., March 15, 2018 -- Guardian Alliance Technologies Inc., developers of the award-winning Guardian background investigations software system, has announced the launch of "Guardian Alliance Investigations," further expanding its product and service offerings. Guardian Alliance Investigations recruits former law enforcement and firefighter personnel to conduct world-class, public safety background investigations in accordance with P.O.S.T. requirements utilizing the Guardian software system. The addition of Guardian Alliance Investigations makes Guardian Alliance Technologies Inc. a centralized hub for public safety organizations in need of California P.O.S.T.-mandated background investigations.

According to Guardian's President, Justin Biedinger, "The Guardian software system dramatically improves the background investigation process required during the hiring of law enforcement personnel; and with the addition of the investigations division, client agencies can now assign investigations to internal investigators or to a Guardian investigator depending upon their workload and needs."

Guardian Alliance Investigations is led by Director of Investigations Steven D. Ward, an 11-year public safety background investigator and licensed private investigator since 1986. Biedinger states, "Mr. Ward's years of specialized experience in the investigative space, attention to detail and organizational capabilities make him perfectly suited for the role."

Prior to joining Guardian, Steven D. Ward built a successful public safety investigations agency in Santa Cruz, Montereyand Santa Clara counties. In addition to being an expert in public safety investigations, Steven has a Computer Forensics Certification through California State University, Fullerton. Ward's extensive private investigation experience is a natural fit with the Guardian Alliance team out of Stockton, California.

Guardian Alliance Investigations offers investigative services to public service institutions throughout the state of California, with regional investigators working to build relationships with clients and to understand each department's culture. Ward says, "Each department has its own culture. We will understand that culture and aim to vet and place personnel in positions of high trust who understand and can nurture, compliment and preserve those relationships." Currently, Guardian's software is available to any public service institution in the country and the company will eventually offer investigation services nationwide.

The law enforcement industry suffers greatly from the absence of a centralized investigation resource. Guardian believes their software system, in conjunction with Guardian Alliance Investigations, fills a vital void for all phases of the applicant-screening process. For law enforcement agencies that are using Guardian's software, whenever a thorough investigation is required for an applicant, a supervisor can now set up a new applicant and then assign that investigation to an internal investigator or to an investigator at Guardian Alliance Investigations while enjoying no disruption to their ability to monitor the work being done. This is completely unique to Guardian's offering and not available anywhere else in the industry.

Steven Ward sees the Guardian brand being instrumental to the future of the public safety background industry. "Guardian will revolutionize the way public safety backgrounds are assigned, worked and reported," Ward said. When asked what the biggest challenges are with the investigations process, Ward admitted: "There is no sharing of information about an applicant between agencies. One agency may not even be aware that an applicant has failed the background investigation for another agency. This has to stop, and for agencies using the Guardian system, it does." Ward further revealed: "Since there are 17 separate areas that background investigators are checking for each applicant, the sharing of information between agencies becomes essential to the integrity of the investigative process." With Guardian's two divisions operating as an industry resource for all aspects of the investigative process, the company believes it can shorten a typical, 60-day investigation cycle down to just four weeks - saving time and valuable resources that agencies can re-allocate for other, essential uses. Ward said, "Since multiple agencies are often competing for the same personnel, it's a race to get the applicant vetted timely, so they can be offered a conditional offer of employment. Guardian will help them win that race."

Utilizing its turnkey, cloud-based software-solution, Guardian enables many processes to be automated, allowing for the immediate sharing of an applicant's progress between the supervisor and the investigators. This keeps the integrity of the investigative process safely secured. Ward also envisions Guardian as becoming pivotal in raising the bar of excellence among background investigators everywhere. The technology and tools that Guardian offers create a standardized and customizable format which investigators can quickly implement to ensure the background investigations they perform meet all the state and department criteria and meet the highest standards for thoroughness and completeness.

This standardized checklist also holds investigators accountable, ensuring consistency, quality and accuracy as they perform their investigative work. With so much weighing on the vetting, hiring, training and eventual placement of qualified law enforcement personnel, it is essential that background investigations be done professionally, thoroughly and in an expert manner. Guardian created its software solution to expedite and organize this process, ultimately lending to better hiring processes and greater public safety. The Guardian software and investigative solution also help minimize the backlog of background investigations being performed by agencies that already have over-extended resources.

While Guardian hopes to cut down on the extensive time required for the investigative process, their objective is to continue raising the standard of a thoroughly conducted investigation. As the company seeks to upgrade the outdated processes that exist within the public safety background process, it pledges to work steadfastly to maintain the integrity and raise the standards of the industry.

Media Contact Information
Ryan Layne
Guardian Alliance Technologies, Inc
[email protected]
800.573.5950 Ext. 136

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SOURCE Guardian Alliance Technologies

Boeing HorizonX Invests in Fortem Technologies, Creator of Radar Systems for Unmanned Aerial Vehicles

CHICAGO, March 15, 2018 -- Boeing [NYSE: BA] announced its investment in Fortem Technologies, Inc., a Salt Lake City, Utah-based company developing advanced radar systems for unmanned and manned aircraft.

Fortem Technologies offers airspace awareness solutions using low size, weight and power radar to ensure safe operations of unmanned aerial vehicles. Fortem's TrueView radar technology helps UAVs detect and avoid other aircraft and airborne objects beyond visual line of sight a key capability for future autonomous air vehicles

"Radar technology is a necessary and trusted element as we continue to strengthen autonomy capabilities for a variety of commercial and urban mobility applications," said Steve Nordlund, vice president of Boeing HorizonX. "Safety is paramount in our approach to the responsible introduction of future air vehicles. Fortem's radar systems will help as we pave the path to emerging markets of autonomous flight."

Founded in May 2016, Fortem has developed a suite of radar systems and radar-enabled product solutions to help unmanned aircraft and pilots safely operate in an increasingly crowded airspace. Its TrueView radar systems enable autonomous aircraft to perform various logistics applications, including cargo transport, package delivery and large infrastructure inspections.

"With support from Boeing and others, Fortem can scale more quickly to support continuous improvements in airspace safety," said Timothy Bean, CEO of Fortem Technologies. "We look forward to continue working with Boeing as they develop autonomous air vehicles."

Boeing HorizonX Ventures participated in this Series A funding round, which included follow-on investments by Data Collective (DCVC) and Signia Venture Partners. This is Boeing HorizonX Ventures' second investment in autonomous systems technology since the fund was established in April 2017.

The Boeing HorizonX Ventures investment portfolio is made up of companies specializing in technologies for aerospace product and manufacturing innovations, including energy storage, advanced materials, augmented reality systems and software, machine learning and hybrid-electric propulsion. Boeing HorizonX also seeks unique business opportunities and non-traditional partnerships for the company's aerospace technology using disruptive innovations and business strategies.

Chicago-based Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries.

Contact
Megan Hilfer
Boeing Communications
Office:  +1 425-237-9375
Mobile: +1 206-465-5379
[email protected]  

 

SOURCE Boeing

Related Links

http://www.boeing.com

GeoSpectrum Delivered Active Towed Sonar to the Royal Canadian Navy

DARTMOUTH, Nova Scotia, March 15, 2018 -- GeoSpectrum Technologies (GTI) is proud to announce that the containerized version of TRAPS (Towed Reelable Active Passive Sonar) was delivered to the Royal Canadian Navy (RCN) and is ready for ship installation and operation. The purchase was made through the Build in Canada Innovation Program.

TRAPS is an innovative Low Frequency (LF) variable-depth-sonar intended for detection, tracking and classification of submarines, midget submarines, surface vessels and torpedoes. Its' "wet-end" towed arrays' acoustic elements are a vertical projector and a receive array. TRAPS' unique advantage is that its' projector array is reel-able and stows on the winch drum with the receive array and tow cable. Thus only a simple fairlead is used with the winch removing the need for a dedicated, heavy and costly deployment/recovery system.

Various system variants are available to suit different performance requirements and vessel sizes from destroyers and Frigates, through Corvettes, OPVs, patrol vessels and even USVs. The containerized configuration is implemented in a standard 20 ft. ISO container empowering any vessel of opportunity with an advanced and high performance ASW module requiring only deck space and electric power from the vessel.

The inherent benefits of TRAPS meets the growing need for lower cost, compact ASW sensors that enable cost saving both in the system and in avoiding costly vessel adaptations. TRAPS can be delivered stand-alone or as part an integrated sonar-suite including hull-mounted sonar and sonobuoy processor and featuring bi-static and muilti-static operation, all leveraging GeoSpectrum's RECVIEW sonar processing and display system.

TRAPS trials that were conducted proved capability to tow the source at vessel speeds exceeding 18 knots, with the receive array proving excellent performance with minimal self-noise.Paul Yeatman, President of GTI, commented:  "We are very pleased with results of TRAPS testing. We are proud to offer users a high performance, lower cost and compact ASW sensor that represents an excellent and available sonar choice for a wide variety of surface combatant and patrol vessels as well as USVs, with a specific design available for Elbits' Seagull multi-mission USV. TRAPS can be used by navies for Anti-Submarine operations as well as coast guards for anti-Narco-Sub missions"

About GeoSpectrum Technologies Inc.

GeoSpectrum is a Dartmouth, Nova Scotia, Canada based supplier of marine acoustic hardware and systems. Its' range of offerings include sonars and sonar upgrades (towed and hull mounted), acoustic communication, submarine targets, diver deterrent systems, moored surveillance solutions, Very Low Frequency (VLF) systems and more. The company supplies its products to the defence, oil and gas, surveillance, and environmental sectors. GeoSpectrum is a wholly owned subsidiary of Elbit Systems Ltd.

About the Build in Canada Innovation Program

This innovation procurement program helps Canadian innovators get their product to market faster, and helps them succeed in the marketplace, by buying and testing innovations in real-operational settings. Through the program, innovators can sell their per-commercial products or services for testing, but keep the intellectual property and retain all equity in their company. The program pays up to $500,000 for non-military innovations, and up to $1,000,000 for military innovations.

For more information, please contact Sean Kelly:

[email protected]  
www.geospectrum.ca

 

SOURCE GeoSpectrum Technologies Inc

Related Links

http://www.geospectrum.ca

FleetWatch Systems Partners With LifeSaver to Launch Its Newest Fleet Safety Program to Target Distracted Driving

FleetWatch Systems and LifeSavertoday announced a new initiative to combat distracted driving among commercial drivers who, with disproportionately long hours on the road and high mileages, are at particular risk of involvement in serious accidents. 2017 saw a significant 7.2 percent increase in U.S. traffic accidents, bringing the number of resulting deaths to more than 35,000. National Highway Traffic Safety Administration experts estimate that one in 10 traffic fatalities are caused by distracted driving. FleetWatch Systems and LifeSaver, leaders in fleet road safety, are tackling the issue of distracted driving head-on with the launch of Cell Restrict, which allows fleet managers to monitor cell phone use and ensure that their companies' driving safety policies are being properly followed.

"Making or receiving cell phone calls can take any driver's attention off the road with sometimes tragic results," said FleetWatch principal Darryl Tolentino. "No less than 38 percent of calls made to our 1-800 HowsMyDriving.com call center are reporting commercial drivers who are distracted by their phones, so we know this is a real problem."

Building on LifeSaver's proven success in changing driver behavior, Cell Restrict extends LifeSaver's distracted driving solution to FleetWatch's extensive customer base, ensuring a significant positive impact on overall road safety.

Tolentino continued, "Last year's terrifying collision statistics serve as an overdue wake-up call and our corporate and fleet customers have been desperately looking for enhanced safety measures. Cell Restrict now offers them an efficient yet cost-effective means of monitoring their drivers' safety and cutting the risk of distracted driving accidents."

LifeSaver co-founder Ted Chen also expects to see positive results from Cell Restrict's launch. "Given FleetWatch's leadership in fleet safety and risk management for almost 30 years, our partnership provides a great opportunity to solve the distracted driving problem for a significant number of commercial drivers throughout North America."

More information about Cell Restrict is available at www.cellrestrict.com or 1-800-515-9902.

About FleetWatch Systems

Creator of the original and industry-leading 1-800 How's My Driving program, FleetWatch Systems offers a comprehensive portfolio of fleet safety risk management programs which are used by thousands of companies in both the United States and Canada to improve driver behavior, reduce risk and mitigate vicarious liability exposure. FleetWatch Systems is a privately held corporation based in Vancouver, British Columbia, and New York. For more information, visit http://www.cellrestrict.com.

About LifeSaver

LifeSaver is the top-rated mobile app solution for distracted driving, combined with B2B subscription services for enterprise reporting. We provide fleet operators and auto insurers with the tools they need to reduce collisions caused by cell phone-related distracted driving, an epidemic responsible for more than 25 percent of U.S. auto collisions and annual insurance claims in excess of $30 billion. LifeSaver's patented solution has been validated by over 20 million miles of driving. Most importantly, the LifeSaver platform is changing the culture of distracted driving. LifeSaver is privately held and based in the San Francisco Bay Area. For more information, visit http://www.lifesaver-app.com/fleet.

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