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API Technologies Receives $15 Million Contract from Canadian Government Agency for Secure Communication Systems
ORLANDO, Fla. & OTTAWA, Ontario--(BUSINESS WIRE)-- API Technologies Corp. (NAS: ATNY) ("API Technologies" or the "Company"), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced that the Company's Canadian-based EMCON® group, part of its Secure Systems and Information Assurance (SSIA) business, has partnered with a Global 2000 Canadian defence contractor to secure a major contract with a Canadian government agency for secure communication products. As part of the three-year agreement, EMCON will supply deployable secure communication suites, with a contract ceiling value of $15 million, of which the customer has already exercised $3.5 million.
No additional information may be shared due to the secure nature of the opportunity.
About API Technologies Corp.
API Technologies designs, develops and manufactures electronic systems, subsystems, RF and secure solutions for technically demanding defense, aerospace and commercial applications. API Technologies' customers include many leading Fortune 500 companies. API Technologies trades on the NASDAQ under the symbol ATNY. For further information, please visit the Company website at www.apitech.com.
Safe Harbor for Forward-Looking Statements
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. All forward-looking statements are subject to certain risks, uncertainties and assumptions which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to, general economic and business conditions, government regulations, our ability to integrate and consolidate our operations, our ability to expand our operations in both new and existing markets, the ability of our review of strategic alternatives to maximize stockholder value and the effect of growth on our infrastructure. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. The forward-looking statements in this news release should be read in conjunction with the more detailed descriptions of the above factors located in our Annual Report on Form 10-K under Part I, Item 1A "Risk Factors" as well as those additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. All information in this release is as of the date hereof. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements in this press release, whether as a result of new information, future events, or otherwise.
API Technologies Corp.
Tara Flynn Condon, +1-908-546-3903
Vice President, Corporate Development & Marketing
investors@apitech.com
KEYWORDS: United States North America Canada Florida
INDUSTRY KEYWORDS:
The article API Technologies Receives $15 Million Contract from Canadian Government Agency for Secure Communication Systems originally appeared on Fool.com.
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