ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, announces the award of a multi-year framework contract with the European Maritime Safety Agency (EMSA) through ORBCOMM’s partner, LuxSpace Sarl (LuxSpace), an affiliate of OHB System AG. ORBCOMM and LuxSpace will provide satellite Automatic Identification System (AIS) data used for ship tracking and other maritime navigational and safety efforts to EMSA for designated regions and specific maritime projects. The framework contract is funded for up to 500,000 Euros (US $625,000) for the first year with options for an additional two years with funding levels yet to be determined.
The contract award was the result of a competitive bid among providers of space-based AIS data service. EMSA determined that the AIS service provided by ORBCOMM and LuxSpace was superior, citing the service offering ‘was the most advantageous in regards of quality price ratio.’ Headquartered in Lisbon, Portugal, EMSA is one of the largest consolidators of AIS data and is responsible for maritime safety, pollution and security on board ships for the European Union and its Member States.
“We are pleased to announce the new EMSA contract, which solidifies our market leadership in providing space-based AIS services,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “This contract award affirms that ORBCOMM’s AIS offering provides the best combination of quality and price available in the market today.”
In addition to EMSA’s prestigious contract award, ORBCOMM and its AIS partners have signed several additional contracts for satellite AIS data services around the world, further expanding its market share and adding key customers within the maritime industry. ORBCOMM is also actively participating in numerous AIS demonstrations and tests, including an extensive Naval exercise conducted by 22 Pacific Rim nations in the Pacific Ocean starting at the end of June.To further improve ORBCOMM’s global AIS service, eighteen additional AIS-enabled satellites that make up ORBCOMM’s next generation constellation are scheduled to begin launching later this year. These additional satellites will enhance ORBCOMM’s unmatched coverage, highest refresh rates and superior performance.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV