Thursday, July 26, 2012
Globalscape Secures New US Army Contract
Continuing logistics program support may reach $4.4 million by 2015
SAN ANTONIO, TX - Globalscape, Inc. (NYSE MKT: GSB),
a leading developer of secure information exchange solutions, finalized a new contract with the US Army to continue supporting the Standard Army Maintenance
System-Enhanced (SAMS-E) logistics program. This is the fourth US Army contract for Globalscape since 2005.
The new contract extends through July 2013, replacing a previous three-year contract awarded in 2009. This sole source contract is for $1.35 million over
the first year, with the revenue recognized in equal installments over the term of the agreement, and also includes two one-year options that, if exercised,
could result in a total value of $4.4 million over the next three years, making it potentially the largest single contract win in company history.
Under this agreement, Globalscape will continue to provide maintenance and support to previously purchased software licenses, including the Enhanced File
Transfer Server™ solution and CuteFTP Pro® managed file transfer application.
“More than 30,000 Army and DoD licenses are used to support various military operations and humanitarian efforts around the world,” said Bill Buie, Globalscape
executive vice president of sales and marketing. “Globalscape provides mission-critical software solutions, for securely sharing digital files, to thousands
of commercial companies and government organizations worldwide. We are particularly proud that the US Army uses our secure file transfer solutions for
their logistical and supply needs.”
Globalscape solutions enable the SAMS-E program to maintain compliance with federal and US Army and information security regulations. The company’s leading
product certifications, such as Federal Information Processing Standards (FIPS 140-2) and the US Army Certificate of Networthiness (CoN), give Globalscape
a distinct advantage when competing for mission-critical and time-sensitive projects.
For more information regarding Globalscape solutions, please visit www.globalscape.com.
Globalscape, Inc. (NYSE MKT: GSB), headquartered in San Antonio, TX, is a leading provider of secure information exchange solutions. Since the release
of CuteFTP in 1996, Globalscape's solutions have continued to evolve to meet the business and technology needs of
an increasingly interconnected global marketplace. Serving a customer base that spans more than 150 countries and includes the majority of Fortune 100
companies, Globalscape's primary focus is providing customers with intuitive and efficient managed file transfer
(MFT) solutions while also ensuring end-to-end security. For more information, visit Globalscape, or
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Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. The words "would," "exceed," "should," "anticipates," "believe," "steady," "dramatic," and variations of such words and similar
expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking
statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes
no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors
that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed
in the Company's Annual Report on Form 10-K for the 2011 calendar year, filed with the Securities and Exchange Commission on March 29, 2012.