Globecomm Receives Contract from NATO Valued at $8.8 Million for GPS-Based Force Tracking System Upgrade
HAUPPAUGE, N.Y.--(BUSINESS WIRE)-- Globecomm Systems Inc. (Nasdaq: GCOM) , a leading communications solutions provider, announced today that the Company has received a contract from NATO Communications and Information Agency (NCI Agency) valued at $8.8 million to upgrade the Company's previously deployed GPS-Based Force tracking System (FTS) to handle additional capacity and add additional features.
Globecomm previously announced approximately $65.8 million in contracts from NATO for this project to design and install a GPS FTS, bringing the combined contract value to approximately $74.6 million. The FTS provides NATO with high levels of tracking data and messaging traffic. It enables NATO to identify where its personnel are located at all times, identify other multi-national forces and have the ability to do so in routine and operational situations. This is critical in assisting with the identification of friendly forces and helps prevent fratricide or "blue-on-blue" incidents.
Paul Knudsen, Vice President of Globecomm's Eastern Atlantic Team, said: "Globecomm is pleased to receive this contract extension. Our system and people on the ground continue to provide a vital service to NATO. We look forward to continuing to support NATO to enhance the safety of the troops in theater."
About Globecomm Systems
Globecomm Systems Inc., ("we", "our", "us" or "Globecomm"), is a leading global communications solutions provider. Employing our expertise in emerging communication technologies, including satellite and other transport mediums, 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 focus this value proposition to selective vertical markets, including government, wireless, media, enterprise, and maritime. As a communications solutions 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 Quarterly Report on 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.
Globecomm Systems Inc.
Matthew Byron, 631-457-1301
Senior Vice President, Corporate Office
KEYWORDS: United States North America New York
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