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Globecomm Awarded Multi-Year Agreement for a US Government Agency Valued at up to $9.0 Million; Options Bring Potential Total C

^{Published on 2010-07-20 08:55:39 - Market Wire}
 

HAUPPAUGE, N.Y.--([ BUSINESS WIRE ])--[ Globecomm Systems Inc. (NASDAQ: GCOM), ] a leading global provider of satellite-based communications infrastructure solutions and services, announced today that the Companya™s wholly-owned subsidiary, [ Cachendo ], has been awarded a one-year information technology (IT) support services agreement to support the U.S. Agency for International Development (USAID), valued at up to $9.0 million. Cachendo is a subcontractor to Catapult Technology, Ltd. under the terms set forth in the contract. The agreement includes options, which if exercised would bring the total contract value up to $44.2 million over 5 years.

"We are excited that USAID selected our team. We are looking forward to performing our duties to help execute critical humanitarian missions."

The U.S. Agency for International Development administers the U.S. foreign assistance program providing economic and humanitarian assistance in more than 80 countries worldwide. Pursuant to the terms set forth in the contract, Cachendo will provide IT support services relating to website domains plus deployable IT support for Disaster Assistance Response Teams. This includes program management, operations and maintenance, systems development, communications and field operations support, IT equipment procurement, maintenance, storage, distribution, and network connectivity.

Bob DeLuca, President of Cachendo, said: "We are excited that USAID selected our team. We are looking forward to performing our duties to help execute critical humanitarian missions.a

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, managed network services and life cycle support services. Globecomm's customers include communications service providers, commercial enterprises, broadcast and other media and content providers and government and government-related entities.

Based in Hauppauge, New York, Globecomm Systems also maintains offices in Washington, DC, Maryland, New Jersey, 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 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.