GeoEye (GEOY) Awarded National Geospatial-Intelligence Agency Contract
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On August 6, 2010, the National Geospatial-Intelligence Agency (NGA) gave an award under the NGA's EnhancedView program to GeoEye Imagery Collection Systems Inc., a wholly-owned subsidiary of GeoEye, Inc. (Nasdaq: GEOY)
The award provides for the engineering, construction and launch of the GeoEye-2 satellite, and the design and procurement of associated ground station equipment. Pursuant to the contract terms, NGA will contribute up to 40% of the overall construction costs of the GeoEye-2 program, subject to certain contract limitations.
The award also provides for: (a) satellite imagery deliveries under a Service Level Agreement ("EnhancedView SLA"); (b) the design and procurement of additional infrastructure to support government operations; and (c) NGA to have the option to buy value-added products and other services. The term of the EnhancedView SLA is one year, with nine one-year options; it will replace the SLA currently in place with NGA through its NextView program. Imagery deliveries under the EnhancedView SLA begin on September 1, 2010 and will be made by the company's existing satellite constellation, with the GeoEye-2 satellite providing additional imagery as it comes on-line. The GeoEye-2 satellite is expected to begin delivering imagery under the SLA in early 2013.
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The award provides for the engineering, construction and launch of the GeoEye-2 satellite, and the design and procurement of associated ground station equipment. Pursuant to the contract terms, NGA will contribute up to 40% of the overall construction costs of the GeoEye-2 program, subject to certain contract limitations.
The award also provides for: (a) satellite imagery deliveries under a Service Level Agreement ("EnhancedView SLA"); (b) the design and procurement of additional infrastructure to support government operations; and (c) NGA to have the option to buy value-added products and other services. The term of the EnhancedView SLA is one year, with nine one-year options; it will replace the SLA currently in place with NGA through its NextView program. Imagery deliveries under the EnhancedView SLA begin on September 1, 2010 and will be made by the company's existing satellite constellation, with the GeoEye-2 satellite providing additional imagery as it comes on-line. The GeoEye-2 satellite is expected to begin delivering imagery under the SLA in early 2013.
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