Comtech Telecommunications Corp. Announces Contract Renewal for Location Positioning Solutions Worth $7.3 Million
March 15, 2017 at 1:00 PM EDT
MELVILLE, N.Y.--(BUSINESS WIRE)--
March 15, 2017-- Comtech Telecommunications Corp. (Nasdaq: CMTL)
announced today that the Company's Commercial Solutions segment has
received a two-year renewal agreement worth $7.3 million with a tier-one
North American telecommunications company for the use of a customized
location positioning gateway that manages all location requirements and
access technologies, including CDMA, GSM, LTE and WiFi. The platform
will be extended to include location of Internet of Things (IoT) devices.
"We are happy to announce the renewal of this agreement from a
long-standing customer and are pleased to support the growth of new
revenue streams, including services related to the Internet of Things,"
said Fred Kornberg, President and Chief Executive Officer of Comtech
Comtech Telecommunications Corp. designs, develops, produces and markets
innovative products, systems and services for advanced communications
solutions. The Company sells products to a diverse customer base in the
global commercial and government communications markets.
Certain information in this press release contains statements that are
forward-looking in nature and involve certain significant risks and
uncertainties. Actual results could differ materially from such
forward-looking information. The Company's Securities and Exchange
Commission filings identify many such risks and uncertainties. Any
forward-looking information in this press release is qualified in its
entirety by the risks and uncertainties described in such Securities and
Exchange Commission filings.