TCS Awarded Five-Year Contract Renewal: General Services Administration IT Schedule 70
ANNAPOLIS, Md., Jan. 7, 2013 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced the U.S. General Services Administration (GSA) has renewed its IT Schedule 70 contract for the final five-year option of the original contract. The period of performance for the renewal option is January 20, 2013 through January 19, 2018.TCS will continue to provide numerous Department of Defense, federal civilian, state, local and tribal agencies with the TotalComTM portfolio of products and services, as well as TCS' Art of Exploitation cyber security training curriculum.
IT Schedule 70 is the largest, most widely used acquisition vehicle used by the federal government. TCS has achieved sales of about $50 million during each of the three previous five-year option periods under this contract, providing TotalCom solutions, including deployable communications systems, managed satellite services, application development, IT operations and maintenance, data warehousing, data backup and restore, wireless services, business continuity planning and project management and other IT professional services, as well as cyber security training.
TCS has established a proven track record for more than two decades as a trusted provider of communication technology solutions to solve the government's toughest technical challenges, under conditions that demand the highest level of reliability, availability and security. To ensure mission continuity, TotalCom offers deployable, highly secure communication solutions and complete end-to-end managed services for converged (IP-based) voice, video and data solutions to organizations requiring seamless and secure connectivity between fixed sites and remote operations.
TCS Senior Vice President and General Manager of Government Solutions, Michael Bristol said, "The GSA is committed to providing its customers with proven, secure, and cost-effective communications systems and knowledgeable, reliable support," said Michael Bristol, senior vice president and general manager of Government Solutions for TCS. "Our TotalCom communications portfolio has helped the GSA successfully meet that commitment through this contract for the last 15 years, and we look forward to continuing our relationship for many years to come."
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies, visit www.telecomsys.com.
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include without limitation the possibility that TCS will not win task orders under the contract, that orders do not get fully funded, and those detailed from time to time in the Company's SEC reports, including the reports on Form 10-K for the year ended December 31, 2011, and on Form 10-Q for the quarter ended September 30, 2012.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.
SOURCE TeleCommunication Systems, Inc.