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Lockheed Wins $1 Billion Department of Interior Contract

Lockheed Martin (NYSE: LMT  ) has landed a $1 billion government contract -- and it needn't build a single fighter plane to fulfill it.

On Monday, Lockheed Martin announced that the U.S. Department of the Interior, the agency responsible for managing the nation's parks and other natural resources, has given Lockheed an indefinite delivery/indefinite quantity contract to "transition the agency to the cloud." Bringing cloud computing to Interior is a project that could take as long as 2023 to complete, generating $1 billion in revenues for Lockheed in the process.

The contract in question is titled "Foundation Cloud Hosting Services," and under it, Lockheed will move the data and applications currently housed in more than 400 DOI data centers, rooms, and "closets" -- their word, not mine -- to the cloud.

News site Washington Technology has named Lockheed Martin "the number one provider of IT services to the federal government for the past 19 years."

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9/28/2016 4:01 PM
LMT $245.75 Down -0.04 -0.02%
Lockheed Martin CAPS Rating: ****