TeleCommunication Systems Receives $3.3 Million Contract Modification from the
Department of Defense for Cybersecurity Services
Award Doubles Contract Ceiling to $6.6 Million
ANNAPOLIS, Md., May 21, 2014
ANNAPOLIS, Md., May 21, 2014 /PRNewswire/ --TeleCommunication Systems, Inc.
(TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile
communication technology, today announced that it has received a $3.3 million
contract modification from the Department of Defense for its Art of
Exploitation® cyber training and support. The contract's ceiling value has
been raised to $6.6 million. The period of performance for this contract
remains through September 2016.
oTCS Art of Exploitation ^ is focused training in penetration testing,
forensics attack-defend strategies, vulnerability analysis and
oTech America forecasts that Department of Defense cyber spending will
double over the next ten years from $5.5 billion in 2014 to $11 billion by
TCS Senior Vice President and Chief Technology Officer Drew Morin said: "The
Department of Defense recognizes that its networks are increasingly being
targeted for cyber attacks and that it needs highly-trained cybersecurity
specialists. TCS values the role it has had in supporting cybersecurity for
the Department of Defense for over nine years, and looks forward to
strengthening our relationship through this contract."
TCS' Cyber Intelligence Group helps harden high-value entities, systems and
networks against cyber threats by implementing information assurance best
practices, performing vulnerability assessments and investigating cyber
malicious activity. TCS also provides focused training in the fields of
penetration testing, forensics, defense strategies, vulnerability analysis and
reverse engineering in a state-of-the-art training facility or at customer
locations around the world. TCS brings together many of the brightest minds in
cybersecurity as a resource for research, collaboration and development of
best-in-class technologies to protect critical networks. To learn more, visit
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' cybersecurity 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 options do
not get exercised or that funding is not provided for the contract, and those
detailed from time to time in the Company's SEC reports, including the Annual
Report on Form 10-K for the year ended December 31, 2013 and on Form 10-Q for
the quarter ended March 31, 2014.
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.
TCS Contact: Investor Relations:
TeleCommunication Systems, Inc. Liolios Group, Inc.
Meredith Allen Scott Liolios
SOURCE TeleCommunication Systems, Inc.
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