Pentagon Awards $220 Million in Navy IT Contracts

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The Department of Defense awarded three of its favorite defense contractors a combined $220 million on Monday, hiring each of Booz Allen Hamilton (NYSE: BAH  ) , SAIC (UNKNOWN: SAI.DL  ) , and Engility Holdings (NYSE: EGL  ) to "support shore networks with sustainment services for the Base Level Information Infrastructure."

The three contracts, awarded separately for $79.3 million (Booz), $73.2 million (SAIC), and $67.8 million (Engility), are indefinite-delivery/indefinite-quantity (IDIQ) in nature, meaning that the Pentagon is not obligated for the full contract amount and will place specific task orders with each contractor under their respective umbrella contracts. The value of each task performed will be determined through the cost-plus-fixed-fee procedure.

The companies will be tasked with performing project management, engineering, technical, and integrated logistics support and other work on the Navy Marine Corps Intranet (NMCI ), which supports communications -- voice, video, and data -- of land-based Navy personnel within the U.S.

Work on all three contracts is expected to be complete by May 12, 2016.

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9/27/2016 3:07 PM
BAH $31.49 Up +0.31 +0.99%
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EGL $32.01 Up +0.20 +0.63%
Engility Holdings CAPS Rating: ***
SAI.DL $0.00 Down +0.00 +0.00%
SAIC CAPS Rating: ***