Pentagon Trebles Size of BAE System's DARPA Contract
Aug 1st 2013 6:36PM
Updated Aug 1st 2013 7:20PM
Whoopsy daisy. Two days ago, the Department of Defense announced that it had awarded British defense conglomerate BAE Systems a modest-sized contract to do a bit of work for the Defense Advanced Research Projects Agency (DARPA).
Under the contract, BAE was expected to support DARPA's "Insight" program, which is developing "an adaptable, integrated human-machine exploitation and resource management system." That's all a bit ambiguous. Further examination of DARPA's own description of the program, however, makes it clear that what Insight really is, is a project to do real-time data mining on massive amounts of intelligence and sensor data, then collate that information so that it is "readily discoverable, accessible, meaningful and useful" to Pentagon analysts.
If that sounds like a rather tall order to pay for with a mere $29 million, though... well, it is. Turns out, the Pentagon misplaced a few decimals in calculating the size of this award, and the contract is actually going to be worth $79 million to BAE -- nearly three times as big as originally suggested. The Pentagon published the new, corrected figure Thursday.
The article Pentagon Trebles Size of BAE System's DARPA Contract originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.