Ovzon has secured several contract renewals, valued at a total of MUSD 16.6, with the US Department of Defense (US DoD), through the US service provider Intelsat General Corporation, IGC. The orders amount to twelve months’ use of the company’s satellite communication service for two of the Ovzon services (OHO-1N and OHO-3N) and initially three months for one service (OHO-2).
Under the assumption that the customer continues to renew the OHO-2 contract quarterly going forward, the total potential annual order value from the US DoD regarding these services remains unchanged compared with 2017/18 (MUSD 22.85). The decision to procure the OHO-2 service for an initial three-month period instead of twelve months is believed to be due to possible changing coverage needs.
”We now enter our sixth year of partnership with the US Department of Defense and we are looking forward to continuing this long-term relationship. Our end users’ satisfaction with the Ovzon service performance continues to be very high. These results are achieved using leased capacity on third party satellites. With future Ovzon-owned satellites we will be able to enhance our service and offering even further. We are very proud that US DoD, with its demands on highest-quality and highest-technology contractors, is our customer and it is an excellent reference for Ovzon”, comments Per Wahlberg, CEO of Ovzon.
This information is inside information that Ovzon is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.30 CET on September 7, 2018.
For further information, please contact:
Per Wahlberg, CEO
Lennart Hällkvist, Chairman
Tel: +46 8 508 600 60
Ovzon is a provider of a satellite based mobility broadband service, targeting end-markets and users in need of high data speeds combined with mobility. Applications include real-time sensor and video upload, either from moving or highly mobile platforms, including small vehicles, small aircraft or UAVs, or transmissions directly from on-site staff holding the terminals and transmitting on-the-go.
Since its inception, Ovzon has developed a complete satellite communication service with compact and mobile terminals at its core. Ovzon’s current system is designed to provide a competitive advantage through a unique combination of several characteristics, including high mobility, high uplink and downlink data rates, small easy-to-use terminals and high link availability. Ovzon’s current service is based on leveraging leased satellite transponders from five existing communication satellites. To expand the service coverage and total available bandwidth, Ovzon aims to lease further capacity, including from satellites currently under construction and which are expected to be launched in 2019. The Company’s goal is to launch its own satellites to be able to offer an even more powerful service to its customers.
Ovzon is headquartered in Solna, Sweden and has offices in Tampa, FL and Bethesda, MD in the United States. The Group has 18 employees. Since May 2018 Ovzon is listed on Nasdaq First North Premier. FNCA Sweden AB is the company’s Certified Adviser.