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Globecomm Gets U.S. Government Contracts

The contracts total $16.9 million.

Satellite-based communications provider

Globecomm Systems

(GCOM)

rallied on news that it was awarded two contracts from the U.S. government totaling $16.9 million.

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The first contract, valued at $13.7 million, will require Globecomm to provide the U.S. government with several tactical portable satellite terminals and control software for network monitoring. The second contract, worth $3.2 million, is for other Auto Explorer terminals.

After falling nearly 2% earlier in the session, shares of Globecomm rose 1% to $8.70.