Leidos wins $120 million cybersecurity and cryptographic key management contract

Rhea-AI Summary

Leidos (NYSE: LDOS) has secured a new prime contract worth $120 million from the Naval Information Warfare Center Pacific to provide Key Management Architecture & Engineering and Cyber Security Engineering Support Services to the Department of Defense, Intelligence Community and civilian agencies. The contract includes a one-year base period with four one-year optional extensions.

Under this agreement, Leidos will focus on designing, developing, testing, integrating, and maintaining technologies for key management systems. The company will continue its role in securely designing and deploying electronic cryptographic key material for U.S. and allied national security customers.

Positive

• Secured new prime contract worth $120 million
• Contract includes potential for 4-year extension beyond base year
• Expands presence in critical cybersecurity services for defense sector

Negative

• None.

News Market Reaction

+0.33%

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+0.33% News Effect

On the day this news was published, LDOS gained 0.33%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

RESTON, Va., Jan. 22, 2025 /PRNewswire/ -- Leidos (NYSE: LDOS) today announced a new prime contract to provide Key Management Architecture & Engineering and Cyber Security Engineering Support Services to the Department of Defense, Intelligence Community and civilian agencies. The contract was awarded by the Naval Information Warfare Center Pacific and has a one-year base period of performance and four one-year optional extensions. The contract has a total value of $120 million if all options are exercised.

"Leidos specializes in providing full spectrum cybersecurity solutions and has long supported cryptographic key management for the Navy," said Roy Stevens, Leidos National Security Sector president. "We look forward to providing an efficient and modern-day key management solution to our warfighters."

Leidos securely designs and deploys electronic cryptographic key material for its U.S. and allied national security customers. Under this contract, Leidos will design, develop, test, integrate and maintain technologies to operate key management systems.

About Leidos

Leidos is an industry and technology leader serving government and commercial customers with smarter, more efficient digital and mission innovations. Headquartered in Reston, Virginia, with 48,000 global employees, Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023. For more information, visit www.leidos.com.

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 29, 2023, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Media Contacts:

Brandon Ver Velde                                                     
(571) 526-6257
brandon.p.vervelde@leidos.com

Greg Hellman
(571) 526-7592
greg.hellman@leidos.com

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SOURCE Leidos Holdings, Inc.

FAQ

What is the value of Leidos's (LDOS) new cybersecurity contract with Naval Information Warfare Center Pacific?

The contract has a total value of $120 million if all options are exercised.

What is the duration of Leidos's (LDOS) new Naval Information Warfare Center Pacific contract?

The contract has a one-year base period of performance with four one-year optional extensions, potentially lasting up to five years total.

What services will Leidos (LDOS) provide under the new $120M defense contract?

Leidos will provide Key Management Architecture & Engineering and Cyber Security Engineering Support Services, including designing, developing, testing, integrating, and maintaining technologies for key management systems.

Which government agencies will benefit from Leidos's (LDOS) new cybersecurity contract?

The contract will serve the Department of Defense, Intelligence Community, and civilian agencies.