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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 (News - Alert)) 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 spport NATO to enhance the safety of the
troops in theater."
About Globecomm Systems (News - Alert)
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 (News - Alert), 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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