TeleCommunication Systems inks $2.4M deal with U.S. Army
TeleCommunication Systems, Inc. (Nasdaq: TSYS), a wireless data communications company, announced this morning that it was awarded a $2.4 million contract by the U.S. Army Communications-Electronics Lifecycle Management Command contracting authority for satellite communications terminals and maintenance that will be used to support the U.S. 1st Cavalry Division.
The U.S. 1st Cavalry Division will purchase TeleCommunication’s SwiftLink Very Small Aperture Terminals, which will provide multimedia communications capabilities to convey encrypted voice, video and imagery data.
No definite terms surrounding quantity and delivery have been set yet under the contract, which spans three years. TeleCommunication said the potential total order could be valued at more than $29 million, if all options are exercised.
TeleCommunication said the initial order is to be completed in September 2007, followed by 24 months of logistical support.
Shares of TeleCommunication (TSYS) were halted in pre-market trading.
