Monday, February 26, 2007
Dallas-based NewMarket Technology signs $1 million Oracle database contract in Latin America
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DALLAS — NewMarket Technology, Inc. today announced a $1 million contract in Latin America to provide Oracle Database administration and support services. Under the terms of the agreement NewMarket will provide database administration and 24 hour, 7 day a week service support. NewMarket services in Latin America are provided out of its offices in Sao Paulo, Santiago and Caracas.
Photo not provided by NewMarket Technology
A quick visit to the Oracle of Delphi reveals $30 million net revenues in 2007.
NewMarket Technology ranked fifth in Deloitte's 2006 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications and life sciences companies in North America. This is the third consecutive year that NewMarket has been ranked on Deloitte's Technology Fast 500. NewMarket Technology expects to continue to maintain a rapid growth rate, forecasting $70 million in revenue in 2006 and $120 million in 2007.
Last week, NewMarket completed the transaction with Paragon Financial Corporation to combine NewMarket's Latin American operations into Paragon. Under the terms of the share exchange agreement, NewMarket becomes the majority shareholder of Paragon through the receipt of a convertible preferred stock which includes majority voting rights. The Paragon corporate name will be changed to NewMarket Latin America. NewMarket projects over $20 million in profitable revenue for 2006 from its Latin American operations and has issued a revenue forecast of $30 million for the Latin American operations with profitability for 2007.
Source: NewMarket Technology
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