• The joint venture marks a new era of collaboration, using the strengths of both companies to lower the cost of production, improve operational excellence, and increase value to stakeholders.
• The partnership will allow PRUVID and Unalakleet to offer faster access to new technology in the federal government market, delivering profitable growth to both companies.
• The joint venture will drive enhanced competitiveness by enabling the J.V. to be awarded sole-source awards up to any size without justification.
Washington, DC, February 7, 2022 – Pruve Systems, Inc. (PRUVID) and Unalakleet Investments, LLC (Unalakleet) have signed a definitive agreement to create a joint venture that will market and distribute PRUVID brand products in the government marketplace.
PRUVID will form a joint venture, with Unalakleet owning a 51 percent controlling stake and PRUVID owning a 49 percent stake. PRUVID will transfer the rights to distribute and integrate the solution in the federal government to the joint venture. PRUVID will retain all rights to the development and licensure of the PRUVID products.
The joint venture is the next step in the strategic alliance forged between PRUVID and Unalakleet, and it is expected to be operational by mid February 2022. Unalakleet will operationally manage the joint venture, and its governance will be equally composed of representatives of Unalakleet and PRUVID.
The joint venture will be responsible for growing the PRUVID brand in the government. PRUVID will continue to own the PRUVID brand, and Unalakleet will continue to hold the Unalakleet brand.
“Unalakleet and PRUVID coming together is a testament to the trust and mutual respect between the two companies. Our combined strengths – Unalakleet’s expertise in the government space and its successful operating model, and PRUVID’s technical expertise – are a potent recipe for success. At its core, the partnership will be driven by the shared values of both companies, which are focused on enhancing stakeholder value, increasing socio-economic opportunity, and moving cutting edge technology forward in the market,” said Conrad Celestial, President, Unalakleet Investments, LLC.
“PRUVID and Unalakleet are looking forward to building a long working relationship, and we are proud to partner with them. We remain deeply committed to the ideals of the 8A Program, and this new era of collaboration will allow us to deliver cutting-edge technology to an important market,” said Emmit McHenry, Chairman of the Board, PRUVID.
“At PRUVID, our mission has been from the beginning to drive human progress by offering market-ready tools that provide security and access, and that won’t change. But to continue to do that, we need to evolve with new and faster ways of entering the market and addressing the different needs of our clients. Strong alliances like this play a crucial role in assuring we continue to achieve our vision while at the same time staying competitive and delivering value,” said Tom Dawson, PRUVID, CEO.
The joint venture expects to introduce a spectrum of identity, credential, and access management (ICAM) solutions to the Federal Government under the PRUVID brand, beginning with a customized solution developed for the United States Department of Agriculture (USDA) will be integrated by Unalakleet.
Another area of focus for the joint venture will be offering ICAM solutions to the U.S. Department of Transportation and the U.S. Department of Defense. PRUVID and Unalakleet will collaborate to provide additional solutions for the U.S. Courts and other government entities in this growing market.
Building on the federal contract relationships currently held by Unalakleet will enable PRUVID to offer the government access to new and emerging technologies in the government space. Moreover, the joint venture is expected to achieve enhanced efficiencies to strengthen the PRUVID brand in Federal Government. In addition, the joint venture will be a catalyst for growth for the PRUVID and Unalakleet brands.
“The creation of this joint venture is a pivotal moment in our companies’ histories. Strong alliances such as this play a crucial role for PRUVID to compete profitably. By combining our respective talents, we will offer products in the federal government throughout more agencies than any company of similar size than ever before and deliver profitable growth to both PRUVID and Unalakleet,” said Ed Pasewicz, Chief Products Officer of PRUVID.
Unalakleet Investments, LLC is an Alaska Native Corporation owned, SBA 8(a) Certified Small Disadvantaged Business that provides a spectrum of capabilities for the Federal Government. As an Alaskan Native Corporation – Unalakleet Investments, LLC can receive sole-source awards of any size that cannot be protested due to its status as an ANC-owned company, making the contracting process easier and faster compared to competing companies. Unalakleet Investments core competencies include Program/Project/Contract Management, Professional & Security Services, Leasing & Facility Management Services, and Technology & Security System Integration.
PRUVID is a software development firm that has assembled industry leaders to merge artificial intelligence, blockchain, and biometrics for individuals to self-authenticate, secure, and export. The Company’s core capabilities involve the offering of digital security software solutions for small, medium, and large businesses. PRUVID‘s services include KYC verification, virtual identity verification, biometric authentication, onboarding, remote signatures, access management, and AI-powered facial recognition.