MCLEAN, Va., March 5, 2014 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq:IRDM) today announced an agreement with ZTR™ Control Systems to use Iridium's M2M Short Burst Data (SBD) service to provide satellite connectivity to the ZTR inReach® remote monitoring solution. Under the agreement Iridium will enable ZTR Control Systems, a leader of industrial telematics services, to provide reliable connectivity and data services anywhere in the world using Iridium's constellation of satellites. Beginning in April, ZTR will add Intelligent Dual Mode™ capability (cellular and Iridium®) to its flagship telematics device, providing automatic least-cost-routing of data to ensure that it is implemented in the most cost-effective manner. Companies in the oil & gas, marine, rental, construction and rail industries are expected to benefit from this comprehensive, intelligent wireless coverage enabling their ZTR productivity solution.
"Iridium understands the crucial role connectivity plays in the end-to-end telematics solution. We're excited to partner with ZTR, enabling them to greatly extend coverage for their customers," said Bryan Hartin, executive vice president of sales and marketing at Iridium. "Iridium's leadership in core machine-to-machine (M2M) satellite connectivity is built on the only network that covers 100 percent of the globe, making Iridium the best choice when ubiquitous coverage is required. Especially given 90 percent of the world is not covered by terrestrial networks. Additionally, our Iridium NEXT constellation, scheduled to begin launch in 2015, will support the M2M technology we have in the field today."
"Our partnership with Iridium has enabled us to deliver Intelligent Dual Mode to our customers using best in breed wireless coverage. This will greatly simplify the management of our customer's telematics-equipped fleets," said Michael Tidy, general manager of the connected asset division at ZTR Control Systems. "At ZTR, our long-standing goal is to make things that are complex simple for our customers, and this partnership helps us to continue to do just that."
Iridium's M2M growth strategy includes serving mission-critical enterprise communication needs for fleet and vehicle tracking, heavy equipment, container and mobile asset tracking across the utility, oil and gas, maritime and aviation markets. Iridium's M2M data subscribers have grown at a 56 percent compound annual rate since 2008, and now represent 45 percent of its total customer base. The company now draws over one-fifth of its commercial service revenue from the satellite M2M market segment. Global M2M-connected devices are expected to grow from 3.2 billion in 2013 to 18.3 billion in 2022, according to Machina Research.
About Iridium Communications Inc.
Iridium is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has a major development program underway for its next-generation network – Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.
About ZTR Control Systems
ZTR provides innovative telematics solutions to keep equipment information in reach. With the inReach® Solution, powered by the ZTR i3™ Platform and apps such as SnapSite™, we make complex simple. Like us on Facebook and follow us on Twitter (http://twitter.com/ZTR).
Forward-Looking Statements
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this presentation include statements regarding the capabilities of the Iridium system and devices, and the development and deployment of, and transition to, the Iridium NEXT constellation. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially 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, uncertainties regarding the company's ability to maintain the health, capacity and content of its satellite constellation, overall Iridium NEXT development, potential delays in the Iridium NEXT deployment, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission ("the SEC") on March 4, 2014, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
CONTACT: PRESS CONTACT:
Diane Hockenberry
Iridium Communications Inc.
+1 (703) 287-7421
Diane.hockenberry@iridium.com
