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Globecomm reports US bank contract modification

23 July 2009  |  1048 views  |  0 Source: Globecomm Systems

Globecomm Systems (NASDAQ: GCOM), a leading provider of satellite-based communications infrastructure solutions and services on a global basis, today announced that the Company has received a contract modification from a major financial institution in the United States valued at $1.2 million.

Pursuant to the contract modification, Globecomm will migrate sites to the main network and continue to provide a managed network solution for the customer, including operations and maintenance of existing sites and daily network monitoring. Globecomm anticipates the completion of the contract in the Company's fiscal 2010 second quarter ending December 31, 2009.

Keith Hall, President and Chief Operating Officer of Globecomm Systems Inc., said: "The Company is excited to continue to grow and mature our partnership with this customer. We continue to develop our Life Cycle Services offering and look for ways to expand our customer base. This contract represents our success in bringing these products and services to the Enterprise Market. "

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