SAIC, CACI Part of Defense Department Contract Worth Up to $899 Million

Defense contractors SAIC (NYSE: SAI  ) and CACI (NYSE: CACI  ) today both announced their participation in a five-year Defense Department contract valued at up to $899 million. The contract has several prime contractors.

The contract, originally announced by DoD on Dec. 21,  is routed through the U.S. Space and Naval Warfare Systems Center Atlantic, and aims, according to SAIC, to "provide production, installation and in-services support for command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance (C5ISR) capabilities for subsurface and surface platforms." 

The first year of the contract is worth $179.9 million to the team of contractors that will be bidding to fulfill task orders, which in addition to SAIC and CACI includes major defense contractors Computer Sciences (NYSE: CSC  ) , BAE Systems, and L-3 Technologies (NYSE: LLL  ) , and also AMSEC of Virginia Beach, Va.; Serco of Reston, Va., and Scientific Research Corp. of Atlanta, Ga. However, the contract is up for as many as four subsequent one-year extensions that, if fulfilled in full, bring the total contract value to $899 million.

 

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2194831, ~/Articles/ArticleHandler.aspx, 9/16/2014 1:09:39 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement