Satcom wins contract from West African country

Satcom Systems satellite dish credit: Company presentation

Ecommerce fraud protection co Justt raises $30m

The contract for the supply of advanced satellite systems is worth $700,000.

Satcom Systems Ltd. (TASE: STCM) has won a contract with a government agency in West Africa for the supply of advanced satellite systems including a hub. The deal is worth $700,000 plus $130,000 for maintenance of the hub for 28 months.

Satcom said that the systems were designed for national use by the end customer.

Satcom Systems chairman Ami Barlev said, "This contract is further indication of the qualities of our services and products and of the confidence in us on the part of first-tier companies and government agencies."

Satcom Systems has a NIS 60 million market cap. The main shareholders are the The Phoenix-Excellence group (21.4%), Psagot (8.3%), and Ayalon Mutual Funds (5.8%).

Published by Globes, Israel business news - en.globes.co.il - on April 12, 2021