Globecomm Receives Contract for the Design, Engineering and Supply of a High Speed Wireless Network
Globecomm Receives Contract for the Design, Engineering and Supply of a High Speed Wireless Network Incorporating a Multi-Media Platform (Voice, TV, Video on Demand and Internet Services) from Somcable Limited Valued at $2.7 Million
HAUPPAUGE, N.Y.--(BUSINESS WIRE)-- Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, today announced that the Company has been awarded a contract for a new broadband wireless system technology from Somcable Limited (SCL) valued at $2.7 million.
Under the terms set forth in the contract, Globecomm will provide the infrastructure that will allow Somcable to deliver voice, Internet, TV and video communication services to SCL subscribers with the goal of developing a framework of a carrier class communications service provider. This will enable SCL to roll out these services at minimal entry level cost and expand the network as the project permits.
Globecomm will provide SCL with the design and infrastructure to allow SCL to maximize return on investment for this project. The project will ensure that high speed wireless technology is available at the site, which is capable of delivering sufficient scalable bandwidth to residents of Somaliland. Globecomm anticipates the completion of these contracts by the Company's fiscal year 2013 third quarter ending March 31, 2013.
Paul Knudsen, Vice President of Eastern Atlantic Team for Globecomm, said: "This is an exciting project. The system Globecomm will design and deploy will allow Somcable to offer high speed wireless voice, Internet, TV and Video services to their subscribers. The network we are supplying utilizes wireless technologies that can deliver fiber speeds to the customers."
Michael Cothill, Chief Executive of Somcable, said: "Our confidence in Globecomm to deliver a State-of-the-Art network such as this is unquestionable and the fact that Somaliland will uplift its profile and rise to become a participant in world class Multi-Media communications is extremely exciting in the development of the country's communication infrastructure, which we are delighted to be part of. "
About Somcable Limited
Somcable Limited has been granted an exclusive 25 year license for the roll-out of the Country of Somaliland's first and only fiber optic infrastructure. The License has been granted by the Government of Somaliland and has been approved and signed into law. The license also provides for an Individual Operating License and an Individual Spectrum License by the Government of Somaliland. Consequently, Somcable will become the first and for the foreseeable future, the only triple play licensee in Somaliland that has the necessary licensing to provide all the services as required by the Somcable project which includes 40GHz and 12GHz wireless frequencies for the MTVDS-FTTA wireless last mile access deployments.
About Globecomm Systems
Globecomm Systems Inc., or Globecomm, is a leading global provider of satellite-based managed network solutions. Employing our expertise in emerging communication technologies we are able to offer a comprehensive suite of system integration, system products, and network services enabling a complete end-to-end solution for our customers. We believe our integrated approach of in-house design and engineering expertise combined with a world-class global network and our 24 by 7 network operating centers provides us a unique competitive advantage. We are now taking this value proposition to selective vertical markets, including government, wireless, media, enterprise, and maritime. As a network solution provider we leverage our global network to provide customers managed access services to the United States Internet backbone, video content, the public switched telephone network or their corporate headquarters, or government offices. We currently have customers for which we are providing such services in the United States, Europe, South America, Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management's current expectations and observations. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to certain risks, uncertainties and assumptions that are difficult to predict. Our forward-looking statements are based on the information currently available to us and speak only as of the date of this press release. Over time, our actual results, performance or achievements may differ from those expressed or implied by our forward-looking statements, and such difference might be significant and materially adverse to our security holders.
We have identified some of the important factors that could cause future events to differ from our current expectations and they are described in our most recent Annual Report on Form 10-K and most recent Quarterly Report of Form 10-Q, including without limitation under the captions ''Risk Factors'' and ''Management's Discussion and Analysis of Financial Condition and Results of Operations,'' and in other documents that we may file with the SEC, all of which you should review carefully. Please consider our forward-looking statements in light of those risks as you read this press release.
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