MCLEAN, Va. - Iridium Communications Inc. (NASDAQ: NASDAQ:IRDM) announced on Tuesday that it has been awarded a new contract by the United States Space Force's Space Systems Command's Commercial Space Office (COMSO).
The five-year contract, valued at approximately $94 million with a potential to reach $103 million, is for Enhanced Mobile Satellite Services (EMSS) capabilities and security sustainment services (ECS3).
The ECS3 contract will support the EMSS Service Center, ensuring continued operations and connectivity into the Iridium network for critical U.S. government applications. EMSS provides global secure and standard narrowband voice and data services to the U.S. Department of Defense (DoD) and approved subscribers, including broadcast and push-to-talk features.
Scott Scheimreif, executive vice president of government programs at Iridium, expressed the company's commitment to supporting the U.S. Space Force and the DoD, highlighting a partnership of over two decades. The contract aligns with the U.S. Space Force's Commercial Space Strategy, aiming to leverage commercial technology for defense applications.
This new agreement follows a series of contracts between Iridium and the U.S. government, including a $54 million contract signed in 2019 and a $738.5 million airtime services contract awarded by the Defense Information Systems Agency (DISA) in September 2019. The ECS3 contract ensures Iridium's role in the United States government's communications infrastructure through at least 2029.
Iridium is the only satellite communications network offering global voice and data coverage. The company, headquartered in McLean, Va., operates with a partner ecosystem to provide solutions for global communications needs. In 2024, Iridium expanded its services by acquiring Satelles and introducing the Iridium Satellite Time and Location service.
The information in this article is based on a press release statement from Iridium Communications Inc.
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Furthermore, Iridium Communications Inc reported strong financial results for the first quarter of 2024. The firm's recent acquisition of Satelles is expected to significantly boost revenue by 2030. Iridium plans to enhance shareholder returns through increased dividends and share repurchases, supported by solid service revenue growth.
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