Comtech Telecommunications (CMTL +0.6%) (Commercial Solutions segment) was awarded a strategic multi-year contract valued at ~$134M from one of the largest wireless carriers in the United States.
The company expects that ~150M mobile users to benefit from more reliable 911 routing solutions.
The new contract, which was issued in the form of an amendment to an existing contract, resulted in a significant increase to Comtech’s existing backlog.
The contract was effective immediately, has an initial expiration date during Comtech’s Q1'2023 and will automatically renew, under certain conditions.
CEO Fred Kornberg: “Without any doubt, this contract award validates that Comtech’s safety and security technologies are more advanced, secure and reliable than any existing competitive technology. We are honored that this carrier has selected us to perform this critical work for ~150M of its end customers”.
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