ANNAPOLIS, Md., May 3, 2012 /PRNewswire/
-- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a
world leader in highly reliable and secure mobile communication
technology, today announced that it has been awarded one Indefinite
Delivery Indefinite Quantity (IDIQ) contract and two IDIQ
subcontracts for the U.S. Department of Defense (DoD). TCS will be
supplying a variety of cyber security solutions, including
training, research and development support and information
operations.
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The prime contract TCS received is valued at $3.8 million. For the two subcontracts, one has a
ceiling value to TCS of $2.4 million,
and the other has a total value to the team of $16.3 million.
"The DoD recognizes that action is imperative to ensure that
their systems and personnel are ready for the advanced persistent
threat of cyber warfare," said Drew
Morin, senior vice president and chief technology officer at
TCS. "TCS continues to be a leading provider of mission-specific
training and staff to help the DoD protect the citizens, businesses
and infrastructure of our country."
The increased threats of web-based attacks, coupled with the
U.S. government's focus on protecting online assets, indicate that
cyber security will be a high growth communications technology area
for the foreseeable future. According to Deltek, the federal
government IT security market is expected to grow from $9.2 billion in 2011 to $14 billion by 2016. This portends well for TCS'
cyber security offerings and services, as TCS has deep expertise,
especially in the areas of training and systems/network
security.
TCS computer network operations and information assurance
engineers help harden high-value entities, systems and networks
against cyber attack. TCS provides focused training via its Art of
Exploitation™ curriculum in the fields of penetration testing,
attack-defend strategies and vulnerability analysis and
exploitation, and brings together many of the brightest minds in
security as a forum for research, collaboration and building
next-generation technologies to protect the nation's networks.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a
world leader in highly reliable and secure mobile communication
technology. TCS infrastructure forms the foundation for market
leading solutions in E9-1-1, text messaging, commercial location
and deployable wireless communications. TCS is at the forefront of
new mobile cloud computing services providing wireless applications
for navigation, hyper-local search, asset tracking, social
applications and telematics. Millions of consumers around the world
use TCS wireless apps as a fundamental part of their daily lives.
Government agencies utilize TCS' cyber security expertise,
professional services, and highly secure deployable satellite
solutions for mission-critical communications. Headquartered in
Annapolis, MD, TCS maintains
technical, service and sales offices around the world. To learn
more about emerging and innovative wireless technologies, visit
www.telecomsys.com.
Except for the historical information contained herein, this
news release contains forward-looking statements as defined within
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended. These
statements are subject to risks and uncertainties and are based
upon TCS' current expectations and assumptions that if incorrect
would cause actual results to differ materially from those
anticipated. Risks include without limitation the possibility that
the contracts will not be fully funded, that the government IT
security market does not grow as expected, that the products and
services offered by TCS will not meet government expectations for
cyber security solutions and those detailed from time to time in
the Company's SEC reports, including the report on Form 10-K for
the year ended December 31, 2011
and on Form 10-Q for the quarter ended March 31, 2012.
Existing and prospective investors are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update or revise the information in this press release, whether as
a result of new information, future events or circumstances, or
otherwise.
Company
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TeleCommunication Systems, Inc.
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Nadel
Phelan, Inc.
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Liolios
Group, Inc.
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Meredith
Allen
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Graham
Sorkin
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Scott
Liolios
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410-295-1865
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831-440-2406
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949-574-3860
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MAllen@telecomsys.com
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graham@nadelphelan.com
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info@liolios.com
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SOURCE TeleCommunication Systems, Inc.