First TCS Contract Award under DISA CS2 IDIQ Vehicle
ANNAPOLIS, Md., Aug. 29, 2013 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today announced that it has entered into a contract with the Defense Information Systems Agency (DISA) to provide Managed Satellite Services, Ku satellite bandwidth, terrestrial support and 24-hour support services for the U.S. Marine Corps' Tactical Satellite Communications Network. The initial funding on this award is $12.8 million for the base 12-month period starting August 1, 2013. The contract includes four, one-year option terms, which, if exercised, have a total contract value of $58.3 million. This contract was issued under the joint DISA/GSA Future Commercial Satcom Acquisition program. TCS is one of eight prime contract awardees under the $2.6 billion Custom SATCOM Solutions (CS2) vehicle, which was awarded in August 2012. The CS2 contract has a base term of three years, ending August 2015 with two subsequent one-year option terms.
TCS Government Solutions Group President Michael Bristol, said: "Through our experience with wireless point-to-point links and commercialization projects, the Marine Corps has come to trust TCS TotalCom® solutions. Now, we will provide further highly reliable communication technology to deployed forces."
TCS has established a proven track record for more than 25 years as a trusted provider of communication technology solutions for the government's toughest technical challenges, under conditions that demand the highest level of reliability, availability and security. To ensure mission continuity, TCS TotalCom® offers deployable, highly secure communication solutions and complete end-to-end managed services for converged (IP-based) voice, video and data solutions to organizations requiring seamless and secure connectivity between fixed sites and remote operations.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies, visit www.telecomsys.com.
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include without limitation the possibility that the contract options will not be exercised, that the contract will not be fully funded and those detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2012 and on Form 10-Q for the quarter ended June 30, 2013.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.
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