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BUZZ-Iridium Communications rises on US contract win

Reuters
Oct 21
BUZZ-Iridium Communications rises on US contract win

** Shares of communications services provider Iridium Communications IRDM.O rise 5% to $19.6 premarket

** Co selected by the U.S. Department of Transportation for complementary positioning, navigation, and timing services deployment and testing

** Iridium is working with TMUS to launch live-site activations across U.S. that further strengthens network resilience

** Through this contract, T-Mobile will expand its installation of Iridium positioning, navigation, and timing $(PNT)$ receivers to 90 additional live 5G network sites in geographically diverse locations

** Up to last close, stock had fallen ~36% YTD

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

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