Shares of Global Invacom QS9 17.95% Group, which provides satellite ground network equipment, surged by around 15% this morning following an announcement that has been awarded a contract to supply its latest military grade, Iridium/GPS Repeater System to the US Navy.

 

The contract value is not disclosed in the company' s announcement.

 

The company says that " barring unforeseen circumstances" there will be a " positive contribution to its earnings" but not on its current FY ending Dec 31 2023.

 

The system is designed to provide GPS and satellite communications coverage to sub-deck and sub-terranean facilities.

 

&ldquo The Iridium/GPS Repeater System is an important addition to our solution portfolio, enabling us to extend satellite coverage to facilities on land and sea, where it helps optimize our response readiness and the security of our staff and assets,&rdquo says Frank Montgomery, Project Engineer for the US Navy.

 

&ldquo Working with the US Navy and several other military clients helped us optimize a product platform that is fit for multiple deployment scenarios, " says Yaakov ben-Harosh, managing director of Global Foxcom, the unit of Global Invacom.

 

" But it&rsquo s not just about the product, no two military use cases are identical, so our planning and modelling services are an integral part of the overall solution,&rdquo he adds.