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exactEarth, Hisdesat Announce Multi-Year Contract with European Maritime Safety Agency

13 Jan 2020, 18:20 UTC
exactEarth, Hisdesat Announce Multi-Year Contract with European Maritime Safety Agency
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CAMBRIDGE, ON and MADRID , Jan. 13, 2020 (exactEarth/Hisdesat PR) — exactEarth Ltd. (“exactEarth” or the “Company”) (XCT:TSX) and Hisdesat announce that in partnership they have been selected by the European Maritime Safety Agency (“EMSA”) to provide satellite-AIS data services for a four-year period. All financial terms are in Canadian dollars unless otherwise stated.

Hisdesat, as prime contractor, will provide EMSA with exactView RT, exactEarth’s second-generation real-time satellite-AIS data service. Actual revenues under this framework contract will be determined by the task orders placed by EMSA, which is at their sole discretion, but based on their prior service expenditure history, exactEarth estimates that it could generate revenues of between $5.0 – $7.0 million for the Company over the life of the contract.

“This contract was the result of a competitive tender process, which included both a full technical and commercial evaluation and was open to service providers in the market,” said Peter Mabson , President and CEO of exactEarth. “Along with our partner Hisdesat, we are pleased to have been selected by EMSA for this mandate and to be providing satellite-AIS services to this vital maritime organization. We believe that exactView RT’s unique real-time service capabilities – and the high ...

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