(By Balaseshan) Globecomm Systems Inc. (NASDAQ: GCOM), which provides satellite-based managed network solutions, said it has received option year two of a five year service contract worth $6.8 million from a U.S. government agency.
This contract is a combined effort between Globecomm's wholly-owned subsidiaries, Globecomm Services Maryland, Globecomm Europe and Cachendo.
Globecomm previously announced about $6.0 million in contracts from this U.S. government agency, bringing the combined contract value to about $12.8 million.
Under the terms of the contract, Globecomm will provide in-country field engineers, IT services via its teleport facility, voice-over-IP, satellite television, WAN optimization, program management, operations and maintenance, storage, distribution, and network connectivity.
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The company offers a range of system integration, system products and network services for its customers. It provides end-to-end satellite-based communications solutions. It supplies infrastructure solutions for satellite-based communications, including hardware and software to support a range of satellite systems.
Based in Hauppauge, New York, Globecomm also maintains offices in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.
GCOM is trading up 1.81 percent at $11.79 on Thursday. The stock has been trading between $9.44 and $16 for the past 52 weeks.