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We provide the latest news from the world of economics and finance
(RTTNews) - Iridium Communications Inc. (IRDM), Tuesday announced that the company has secured a five-year contract valued at $94 million from the U.S. Space Force's Space Systems Command's Commercial Space Office for Enhanced Mobile Satellite Services or EMSS capabilities and security sustainment services.
The contract would also support Iridium's EMSS program to deliver broadcast, narrowband voice, and push-to-talk services to the U.S. Department of Defense and their approved subscribers.
The company added that the maximum value of the contract is $103 million, depending on future requirements.
Currently, Iridium's stock is climbing 1.85 percent, to $29.14 on the Nasdaq.
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