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Comtech (CMTL) Arm Inks $1.6M Deal Renewal, Spurs Location Services

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Comtech Telecommunications Corp. (CMTL - Free Report) recently announced that its Location Technologies Group has inked a contract renewal for $1.6 million. The Comtech subsidiary is a part of its Commercial Solutions segment. This development took place in second-quarter fiscal 2021.

Markedly, the one-year renewal agreement has been made with a Tier-One U.S.-based mobile network operator to provide it with hosted location-based services (LBS) platforms. The latest move highlights the Melville, NY-based company’s commitment toward public safety with enhanced precise device location and mapping services while enabling organizations to stay ahead of the curve in the dynamic tech industry.

With more than two decades of industry experience, Comtech’s Location Technologies is an integral provider of innovative and secure wireless communication technologies focused on navigation and location. The unit leverages location intelligence technology to enhance customer experience and enable enterprise-wide digital transformation for greater operational efficiency.

It offers state-of-the-art interconnected cloud-based applications that deliver reliable location information for indoor and outdoor environments. It also delivers messaging solutions for various network operators, enterprises and governments across the globe. Some of its major global partners are Verizon Communications Inc. (VZ - Free Report) , Qualcomm Incorporated (QCOM - Free Report) and TELUS Corporation (TU - Free Report) .

Impressively, the unit’s advanced LBS platforms are considered ideal for commercial industries, law enforcement and public safety. Being a worldwide market forerunner, the LBS platform is vouched by various end clients due to its carrier-grade high availability with a dedicated 24-hour customer support.

The services are also compliant with 2G, 3G, 4G, 5G next generation core network as well as Wi-Fi. Equipped with a virtual cloud software, the platform has been specifically designed to provide high-capacity location services driven by effective interoperability with major original equipment manufacturers. Notably, the agreement intends to strengthen Comtech’s resilient business model with best-in-class public safety communications infrastructure globally.

To strengthen global security and improve public safety with high-performance satellite communications equipment, Comtech created a niche market for secure wireless solutions. The company continues to provide market-leading products for messaging, location and deployable wireless communications. It offers services to integrate networks, servers, gateways and intelligent peripherals as well as provides transmission responses to users.

Comtech currently sports a Zacks Rank #1 (Strong Buy). Its shares have soared 36.3% compared with the industry’s growth of 15% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here.

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