Globecomm Systems Inc. (NASDAQ: GCOM), a leading communications solutions provider, announced today that the Company has received a combined infrastructure and services contract from a major US Broadcaster valued at approximately $12.4 million to design, implement and provide 3 years of life cycle support services for their affiliate exchange network. Pursuant to the terms of the contract, Globecomm will upgrade the customer’s existing affiliate exchange network in order to accommodate the future newsgathering needs of their news division and their news channel affiliated stations. This state-of-the-art network will utilize hybrid satellite and terrestrial-based technologies to transport live and stored (recorded) newsgathering content from affiliate stations and news bureaus to their news headquarters. There is also a planned future expansion to include the broadcaster’s fleet of satellite news gathering vehicles onto this cutting-edge network. The network will utilize proprietary, custom-designed software to dynamically manage transport technologies as well as the broadcaster’s current and newly-provided Globecomm equipment platforms to achieve cost-saving efficiencies across the network. Gerard Johnston, Vice President – Americas, said: “Globecomm’s compelling ability to blend complex network design with around the clock operational support and field services brings significant value to our customers.” Paul Scardino, Vice President Corporate Sales and Marketing for Globecomm, said: “We are very excited to be working with a world-class broadcaster to design, implement and support this state of the art solution. This network demonstrates Globecomm’s ability to couple innovation and service to produce positive business results for our customers and furthers Globecomm’s efforts to provide the market with Media solutions, global connectivity, managed services, best of breed design, integration and life cycle support services.” About Globecomm Systems Globecomm Systems Inc., (“we”, “our”, “us” or “Globecomm”), is a leading global communications solutions provider. Employing our expertise in emerging communication technologies, including satellite and other transport mediums, we are able to offer a comprehensive suite of system integration, system products, and network services enabling a complete end-to-end solution for our customers. We believe our integrated approach of in-house design and engineering expertise combined with a world-class global network and our 24 by 7 network operating centers provides us a unique competitive advantage. We focus this value proposition to selective vertical markets, including government, wireless, media, enterprise, and maritime. As a communications solutions provider we leverage our global network to provide customers managed access services to the United States Internet backbone, video content, the public switched telephone network or their corporate headquarters, or government offices. We currently have customers for which we are providing such services in the United States, Europe, South America, Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Maryland, New Jersey, Virginia, 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 difference 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 Quarterly Report on 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.