Ovzon wins renewed contract from IGC

Ovzon has secured contract renewals, valued at a total of MUSD 13.7, with the US Department of Defense (US DoD), through the US service provider Intelsat General Corporation, IGC.

The contract renewals cover the first six months of FY 2020 for the use of Ovzon’s satellite communication services. Contract renewals are aligned by the customer to match their budgetary schedules and the contracts are expected to continue following those first six months.

The current service offering, using leased capacity, will be complemented with proprietary functionality when the new satellite Ovzon-3 is launched in 2021. Ovzon-3 is an important step to further revolutionize mobile broadband by satellite, offering the highest bandwidth with the smallest terminals. Ovzon 3 is the first of a number of satellites planned for global coverage of Ovzon’s high-end service.

”We are excited to enter our seventh year of continued service för US DoD and we are happy to see our end users’ satisfaction with our “end to end” capability. These results are achieved through leased capacity on third party satellites, highly mobile ground equipment, and efficient, reliable support. With our coming Ovzon-3 satellite we will be able to enhance our service and offering even further”, says Magnus René, 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 14.30 CET on September 16, 2019.

FNCA Sweden AB, +46(0)8-528 00 399, info@fnca.se, is the company’s Certified Adviser.