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December 3, 2012
08:53 EDTIRDMBeam Communications, Iridium announce strategic product development initiative
World Reach Limited announced that its wholly owned subsidiary, Beam Communications, has entered into a strategic product development initiative with Iridium. The agreement signed by the two companies defines a new product development initiative for which Beam Communications will be the Primary Contractor and Original Equipment Manufacturer of the end customer solution. The initial order commitment for the new product will produce incremental sales revenues exceeding AU$3M in the first 12 months of commercial sale. The prospective launch of the product will be in the second half of 2013.
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