The Department of Defense issued just over $1.5 billion worth of new contracts Monday. A little more than $600 million of this amount was for bulk orders of fuel, placed with small, privately held companies. The single largest award of all, though, for $679.8 million, went to pay for work on the Navy Marine Corps Intranet -- and Hewlett-Packard won it.
Monday's award -- a modification to a previously awarded continuity of services contract -- increases the total value of the underlying contract to $5.6 billion and contains an option to extend the contract by a further two months, through June 2014. Through this contract, H-P is hired to ensure that Navy Marine Corps Intranet continues to function and connect 2,500 Navy and Marine Corps locations worldwide, until a Next Generation Enterprise Network is up and running, "satisfactorily providing the replacement services."
This contract includes three primary endpoints, with H-P's continuity of services work running through April 2014 (or June 2014, with the optional extension), "asset usage services" running through December 2014, and hardware purchases running through July 2015.
The article Hewlett-Packard Wins $680 Million Navy-Marines IT Contract originally appeared on Fool.com.Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.