CHANTILLY, Va., April 2, 2020 -- Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, announced today it has received a four-month, $62 million extension to its current Next Generation Enterprise Network (NGEN) contract with the U.S. Department of the Navy to continue providing end-user hardware services.
With this extension, Perspecta will deliver various end-user hardware services through July 2020, providing additional time for the orderly transition of those services to the NGEN-R End User Hardware (EUH) contract.
Under the current NGEN program, Perspecta operates the Navy Marine Corps Intranet (NMCI), the world's largest intranet, with approximately 300,000 seats representing 700,000 Navy and Marine Corps uniformed and civilian users, largely within the continental United States.
"We know firsthand how complex any transition on this network can be and remain committed to providing uninterrupted service to the Sailors and Marines that depend on us," said Mac Curtis, president and chief executive officer, Perspecta. "The Navy and Marine Corps can continue to count on us for steadfast support and dedication to their mission, which we have provided them for nearly two decades. We look forward to leveraging our knowledge and experience to support their evolving needs."
This contract extends Perspecta's support of a program that began in 2000, when the Navy started a forward-leaning transformation to secure net-centric operations. Today, that program is the world's largest intranet, the most secure IT platform in the U.S. Department of Defense, and the U.S. government's largest IT managed services contract.
About Perspecta Inc.
At Perspecta (NYSE: PRSP), we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 270+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. With offerings in mission services, digital transformation and enterprise operations, our team of 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation. For more information about Perspecta, visit perspecta.com.
This press release may contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Perspecta and are subject to significant risks and uncertainty. Readers are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Perspecta undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Perspecta believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve a variety of risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements.