TeleCommunication Systems Awarded $14 Million Contract to Supply Satellite Equipment and Support to the U.S. Army First TCS Contract Award under Army GTACS IDIQ Vehicle
ANNAPOLIS, Md., Oct. 22, 2013 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced that it has entered into a contract with the U.S. Army to provide the Microsat family of Very Small Aperture Terminal satellite terminals with associated engineering services. The initial funding on this award is $1.1 million for the base 18-month period starting September 27, 2013. The contract has a total contract value of $14 million, if all options are exercised. This contract was issued under the Global Tactical Advanced Communication Systems and Services (GTACS) contract vehicle. TCS is a prime GTACS contract awardee; GTACS has an estimated ceiling of $10 billion over five years, starting in November 2012.
- The Department of the Army, Assistant Secretary for Acquisition, Logistics, and Technology, Program Executive Office Command, Control, Communications-Tactical, Special Projects Office, Northeast Regional Response Center is managing this procurement. This is the first GTACS task order awarded directly to TCS.
- Part of the TCS TotalCom® portfolio, the Microsat family delivers the highest performance available in the market today, achieving unsurpassed data rates up to 6 Mbps to provide a terrestrial large pipe in geographically challenged areas.
- The three available terminal options, .65M, .95M and 1.3M, are Wideband Global SATCOM certifiable and designed to stringent MIL-STD-810F tactical requirements.
- The ultra-lean form factor allows for non-attributable transport and operation and is ideally suited for elite military teams, tier-1 responders and command-and-control and data exfiltration calls.
- For 26 years, TCS has provided Professional and Technical Services for government customer operations around the world. Combining satellite, wireless and advanced network engineering; IT engineering; and cyber engineering services with facilities and support staff, TCS quickly and cost-effectively supplements the military's resources for the installation and maintenance of communications networks.
TCS has a 26-year track record as a proven, trusted provider of communication technology solutions to the government's toughest technical challenges, under conditions that demand the highest level of reliability, availability and security. To ensure mission continuity, TCS 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 Government Solutions Group President Michael Bristol said: "I am excited about this order, since it is our first award on the new GTACS contract. We are pleased to continue to provide tactical communications and services to support the Army C4I mission."
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 the contract options will not be exercised, that the contract will not be fully funded and those detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2012 and on Form 10-Q for the quarter ended June 30, 2013.
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.