Globecomm Systems (NASDAQ:GCOM) has been selected Ericsson (NASDAQ:ERIC) as a subcontractor of the maritime GSM/VSAT managed operation for an Ericsson mobile communication network. The network will be implemented on up to 400 container vessels worldwide over the next two years, providing end-to-end 24/7 automated monitoring and real-time information control. Keith Hall, Globecomm President and COO, said: “This contract is a great example of how far Globecomm has come as a global managed network services provider. We take great pride in becoming a major player in the next generation Maritime market and this contract is a major stepping stone. We look forward to the opportunities that will arise from this contract and our partnership with Ericsson.” Globecomm Systems (NASDAQ:GCOM) has potential upside of 22% based on a current price of $14.21 and an average consensus analyst price target of $17.33. Globecomm Systems is currently above its 50-day moving average (MA) of $13.31 and above its 200-day of $13.60.
Tags: Ericsson, Globecomm, selected, Subcontractor
