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Globecomm Nabs Multiple Contracts Worth About $2.4 Million
Globecomm Systems Inc. said it was awarded multiple contracts from an unnamed existing customer valued at approximately $2.4 million. One of the contracts, valued at $1.4 million is for fixed and transportable earth station terminals, is a follow-on to an original contract worth $8.3 million. The original contract included $26.7 million in follow-on options. The customer has the right to exercise an additional $12.3 million under this contract.
Under a separate Indefinite Deliver/Indefinite Quantity contract, the customer previously exercised $900,000 and after exercising this $1 million portion, the customer has the right to exercise an additional $2.9 million on this contract.
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