Globalscape, Inc. (NYSE MKT: GSB), a leading developer of secure information exchange solutions, finalized a new contract with the US Army to continue supporting the Standard Army Maintenance System-Enhanced (SAMS-E) logistics program. This is the fourth US Army contract for Globalscape since 2005.
The new contract extends through July 2013, replacing a previous three-year contract awarded in 2009. This sole source contract is for $1.35 million over the first year, with the revenue recognized in equal installments over the term of the agreement, and also includes two one-year options that, if exercised, could result in a total value of $4.4 million over the next three years, making it potentially the largest single contract win in company history.
Under this agreement, Globalscape will continue to provide maintenance and support to previously purchased software licenses, including the Enhanced File Transfer Server™ solution and CuteFTP Pro® managed file transfer application.
“More than 30,000 Army and DoD licenses are used to support various military operations and humanitarian efforts around the world,” said Bill Buie, Globalscape executive vice president of sales and marketing. “Globalscape provides mission-critical software solutions, for securely sharing digital files, to thousands of commercial companies and government organizations worldwide. We are particularly proud that the US Army uses our secure file transfer solutions for their logistical and supply needs.”
Globalscape solutions enable the SAMS-E program to maintain compliance with federal and US Army and information security regulations. The company’s leading product certifications, such as Federal Information Processing Standards (FIPS 140-2) and the US Army Certificate of Networthiness (CoN), give Globalscape a distinct advantage when competing for mission-critical and time-sensitive projects.
Date: Jul 27, 2012