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|Globecomm Awarded Contract for a US Government Agency Valued up to $20.0 Million|
HAUPPAUGE, N.Y., Sep 24, 2010 (BUSINESS WIRE) --
Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of satellite-based communications infrastructure solutions and services, today announced that the Company has been awarded a one-year contract from a US Government Agency valued at $4.0 million. The agreement includes four one-year options which if exercised would bring the total contract value up to $20.0 million over five years.
Under the terms set forth in the contract, Globecomm will provide Ku space segment bandwidth and bandwidth management services, including life cycle services supported by a global network of qualified technicians enabling a highly professional, technical, and responsive support handling activities such as implementation, preventative and corrective maintenance, and a full range of 24 x 7 technical support services.
Andy Silberstein, Vice President and General Manager of Services, said: "Globecomm is proud to support the needs of the US Government. This contract demonstrates our sustained ability to provide high availability, mission-critical communications connectivity."
About Globecomm Systems
Globecomm Systems Inc. provides end-to-end value-added satellite-based communication products, services and solutions by leveraging its core satellite ground segment systems and network capabilities, with its satellite communication services capabilities. The products and services Globecomm offers include pre-engineered systems, systems design and integration services, access services, hosted services and lifecycle support services. Globecomm's customers include government, enterprises, media, maritime and wireless service providers.
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 differences 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, 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.
SOURCE: Globecomm Systems Inc.
Globecomm Investor Relations:
Globecomm provides specialized communications products to support its global service offerings for media, wireless, government, maritime and enterprise customers.
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