Globecomm Gets $15M European Satellite Infrastructure Contract
Globecomm Systems [Nasdaq: GCOM], a provider of satellite-based communications, received a $15 million contract to provide satellite infrastructure to a European customer.
Under the terms of the contract, Globecomm (Hauppauge, N.Y.) will modernize an existing facility to enable its customer, which Globecomm is not identifying, to provide regional services, such as Internet access via satellite and international voice with countrywide distribution. The project is expected to start during the second quarter. Globecomm officials expect all required financing arrangements to be completed and funding received by that time. Negotiations are underway for a separate agreement involving voice and Internet services.