ORBCOMM & U.S. Coast Guard Amend Agreement, Select High Data Usage & Add Software Upgrades
October 3, 2008 — ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data communications company focused on two-way Machine-to-Machine (M2M) communications, today announced that the U.S. Coast Guard has selected the high usage option for Automatic Identification System (AIS) data from the AIS concept demonstration satellite under its agreement with ORBCOMM. ORBCOMM will also modify the AIS satellite and ground software and provide additional technical support to the U.S. Coast Guard. In total, these amendments add almost $500,000 in revenue over the next 12-months.
"We are pleased that the U.S. Coast Guard has elected to exercise the high usage option for AIS data," said Marc Eisenberg, ORBCOMM's Chief Executive Officer. "This further demonstrates that the AIS service has been successful in providing the high usage data requirements under our agreement. We expect to further expand our AIS offering, including service from all six AIS enabled satellites, to the U.S. government as well as international governments, and global commercial customers."
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company, focused on Machine-to-Machine (M2M) communications. Its customers include Caterpillar Inc., General Electric, Hitatchi Construction Machinery, Komatsu Ltd., and Volvo Group among other industry leaders. By means of a global network of low-earth orbit (LEO) satellites and accompanying ground infrastructure, ORBCOMM's low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The Company's products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a network control center in Dulles, Virginia. For more information, click here.