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StarBand High-Speed Internet Expands to Canada |
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HAUPPAUGE, N.Y., Sept. 29/Satnews Daily/ — Globecomm Systems Inc. (NASDAQ: GCOM) has been awarded two U.S. Government satellite infrastructure contracts valued at approximately $5.9 million, which includes an initial award under an indefinite delivery/indefinite quantity (IDIQ) contract.
David Hershberg, CEO and Chairman of Globecomm said the government is increasingly using IDIQ and similar contract types to increase its procurement efficiency and allow it to capitalize on a commercial company's ability to respond quickly to changing government needs.
“These types of contracts can have a major impact on a company's financial results since multiple orders can be placed at any time during the multi-year term of the contract, and the total dollar value of the contract can be significantly increased from the initial award,” he said.
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