Provides a common, integrated structure for logistics tracking, locating and monitoring of government assets
ROCHELLE PARK, N.J., Dec. 11, 2020 (GLOBE NEWSWIRE) — ORBCOMM Inc. (Nasdaq: ORBC), a global provider of Internet of Things (IoT) solutions, today announced that it has won a single-award, Indefinite Delivery Indefinite Quantity (IDIQ) contract of up to $45.6 million with the U.S. Army for its Next Generation Tag (NGT) program, which will extend through December 9, 2024.
Through this multi-year NGT contract, ORBCOMM will provide cellular, satellite and dual-mode devices and connectivity to support the logistics tracking, locating and health monitoring of commodities and assets for government users. The Government intends to use NGT technology in applications that demand performance on a higher level than what is available with bar code, Radio Frequency Identification (RFID) and other automated data storage and retrieval technologies. The NGT technology will be affixed to assets or other objects of interest to capture and transmit varying amounts of data, which are stored and processed. Product Lead Automated Movement and Identification Solutions (PL AMIS) is the program manager and requiring agency for the NGT requirements.
“We are excited to be selected by the U.S. Army to provide these critical products and services to support their logistics and asset management efforts for government users,” said Greg Flessate, ORBCOMM’s Senior Vice President and General Manager of Government, AIS and Business Operations. “We look forward to fulfilling the requirements of the Next Generation Tag program contract over the next four years and providing advanced IoT technology to the U.S. Government.”
About ORBCOMM Inc.
ORBCOMM (Nasdaq: ORBC) is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com. You can also connect with ORBCOMM at https://blog.orbcomm.com, on Twitter at @ORBCOMM_Inc, at https://www.linkedin.com/company/orbcomm or at https://www.youtube.com/c/ORBCOMM_Inc.
Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.
|For Investors:||For Trade Media:|
|Aly Bonilla, VP of Investor Relations||Sue Rutherford, VP of Marketing|
|+1 703.433.6360||+1 613.254.5269|