Perspecta lands $787 million Navy contract extension

Perspecta Inc. has won a contract extension with the U.S. Navy worth $787 million to continue providing IT services to the military branch.

It’s a one-year continuation of the the Next Generation Enterprise Networks, or NGEN, contract that was awarded to a Perspecta predecessor company in 2013. Perspecta (NYSE: PRSP) and several big-name competitors are waiting on a contract recompete, called NGEN-R, to hit the streets. 

CEO Mac Curtis saw this coming. He said last month on an earnings call — the Chantilly company’s first since its debut in May after a closely watched spin-merge — that he expected to sign a sole-source extension soon for the high-profile work providing hardware, services and management for the Navy Marine Corps Intranet, which supports 700,000 users at 2,500 sites. 

Perspecta also expects to get a modification added for an another eight-month extension, the company said Thursday. The NGEN contract was set to expire Sept. 30. The extension will run through…

Read the full story from the Washington Business Journal.

Advertiser Content