MCLEAN, Va., Sept. 27, 2017 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (NASDAQ:IRDM) today announced a new long-term agreement bringing the truly global coverage and reliability of the Iridium® network to Hitachi Construction Machinery Co., Ltd.'s (TSE:6305) ("Hitachi Construction Machinery") world class Global e-Service construction machinery management system. By integrating Iridium connectivity, Hitachi Construction Machinery's Global e-Service will now be able to expand to regions and markets previously not possible. Together, Iridium and Hitachi Construction Machinery are making effective, reliable and truly global, construction machinery management possible for Hitachi Construction Machinery's vast telematics customer base.
Hitachi Construction Machinery's Global e-Service construction machinery management system provides customers with robust maintenance information to help companies control CO2 emissions, minimize idling times and monitor fuel consumption. Through this new agreement, Global e-Service customers will be able to easily access and transfer critical data, that convey key operational information, including but not limited to, daily operation hours, temperatures and pressures. Quake Global, a key Iridium hardware manufacturer, provides its Iridium satellite network-based product for Hitachi Construction Machinery to integrate Global e-Service with the network.
"At Hitachi Construction Machinery, we are committed to providing reliable and accurate asset management capabilities to our customers with our Global e-Service system," said Toru Kurenuma, general manager, design department control system center at Hitachi Construction Machinery. "Iridium's network will afford us a new level of global connectivity that will help us grow our telematics business and expand our worldwide footprint."
Iridium's network is uniquely qualified for mobile telematics and serving the Internet of Things (IoT) beyond the reach of terrestrial networks, due to the inherent advantages it boasts. Iridium operates the only 100-percent global network comprised of interconnected LEO satellites. Due to its proximity to Earth in LEO, Iridium's network delivers low-latency and reliable connectivity supporting critical business functions, like remote asset tracking, vehicle management and preventative maintenance. With constantly moving satellites that can communicate with each other, end users have access to enhanced reliability and connectivity, even in the most remote locations.
"Partnering with Hitachi Construction Machinery is a major milestone for Iridium's IoT business," said Tim Last, vice president and general manager, IoT at Iridium. "We are excited to work together in making reliable, satellite-based telematics solutions available to Hitachi Construction Machinery's Global e-Service customers. Integrating with our network will allow Hitachi Construction Machinery to deliver improved performance and better coverage to its customers, helping expand their business into new regions previously not possible, due to lack of satellite coverage. When deploying business critical communications, such as those with Global e-Service, reliability is key, and we are the only network that can offer that level of dependability and connectivity."
To date, Iridium IoT services are used by eight of the top 20 heavy equipment, original equipment manufacturers, and includes five of the top 10. As the satellite IoT market continues to grow through the increased adoption of satellite-enabled telematics solutions, the need for global and reliable solutions will increase, further establishing Iridium's position as a leader in this space.
All Iridium IoT services are compatible with Iridium's next-generation constellation, Iridium NEXT. The new constellation, which is currently being launched by SpaceX, will also enable Iridium Certussm, the Company's state-of-the-art communications platform supporting a portfolio of critical communications solutions. Specifically, for Iridium IoT solutions, Iridium Certus will support faster speeds and higher throughputs, delivering an enhanced version of the low latency satellite connectivity it provides today.
For more information about Iridium's IoT products and services, please visit www.iridium.com/solutions/iot.
For more information about Hitachi Construction Machinery's Global e-Service system, please visit www.hitachicm.com/global/ourbusiness/products/global-e-service/.
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 Hitachi Construction Machinery
Hitachi Construction Machinery Co., Ltd. (TSE:6305), headquartered in Tokyo, Japan, is a global construction machinery company with approximately 20,000 employees worldwide. Fiscal 2016 (ended March 31, 2017) consolidated revenues totaled 753 billion yen. Hitachi Construction Machinery will focus more than ever on the Construction and Mining Machinery Business, which includes Hydraulic Excavators, Wheel Loaders, Rigid Dump Trucks, Compaction Equipment, Cranes & Foundation Machines, Applications and Mine Management Systems. For more information on Hitachi Construction Machinery, visit the company's website at: https://www.hitachicm.com/global.
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 deployment and capabilities of the Iridium NEXT constellation and products and services to be offered over the constellation, including Iridium Certus and the Aireon system. 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 potential delays in the Iridium NEXT deployment, the development and functionality of Iridium NEXT and related products and services, and the company's ability to maintain the health, capacity and content of its satellite constellation, 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, 2016, filed with the Securities and Exchange Commission (the "SEC") on February 23, 2017, 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.
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