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Department of Defense Spends $72 Million for Satellite Phones.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, December, 2000 by Glanz, William
Dec. 7--The Department of Defense signed a $72 million contract yesterday for 20,000 satellite phones and service from Iridium Satellite LLC and its subcontractors.
The agreement could be worth $252 million to the new company if the agency exercises options outlined in the contract, including subscribing to Iridium Satellite's phone service through 2007.
The Defense Department will pay a fixed rate of $3 million per month for the service.
The deal comes as Iridium Satellite completes its purchase of defunct Iridium LLC, the D.C.-based satellite telephone company that filed for bankruptcy in August 1999.
Iridium Satellite, the new company led by Daniel A. Colussy, a Maryland investor and former Pan American World Airways executive,...
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