V2X Awarded $170 Million Contract to Support DEA's Mission in Combating Drug Trafficking and Enhancing National Security

Rhea-AI Summary

V2X (NYSE: VVX) has secured a $170 million contract to continue supporting the Drug Enforcement Administration's (DEA) fleet of over 100 aircraft. The five-year contract extends V2X's long-standing partnership with the DEA, which began in 1997. The company will provide maintenance and support services to ensure operational readiness of the DEA's special mission aircraft and pilot development programs, contributing to the agency's drug trafficking prevention and national security missions.

Positive

• Secured significant $170 million contract
• Five-year contract duration provides stable revenue stream
• Continuation of existing partnership since 1997 demonstrates strong client relationship
• Large-scale project covering over 100 aircraft

Negative

• None.

News Market Reaction – VVX

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+2.62% News Effect

On the day this news was published, VVX gained 2.62%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

RESTON, Va., Dec. 30, 2024 /PRNewswire/ -- V2X, Inc. (NYSE: VVX) is proud to announce the award of a $170 million contract to continue its critical support of the Drug Enforcement Administration's (DEA) fleet of over 100 aircraft. This award reinforces V2X's commitment to enabling the DEA's vital mission against the war on drugs and protecting national security.

"V2X has consistently demonstrated a complete understanding of the DEA's mission, and the flexibility required to support its special mission aircraft and pilot development," said Jeremy C. Wensinger, President and CEO of V2X. "This award reflects the trust placed in our team to deliver high-impact solutions that empower the DEA to combat drug trafficking and safeguard national security."

V2X has been steadfast in supporting this vital mission since 1997 and this five-year contract will ensure continued operational readiness for the DEA's aircraft fleet. V2X remains dedicated to advancing national security by leveraging its decades of experience and innovative solutions to support critical missions.

About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.

Media Contact
Angelica Spanos Deoudes 
Senior Director, Marketing and Communications
Angelica.Deoudes@goV2X.com 
571-338-5195

Investor Contact
Mike Smith, CFA 
Vice President, Treasury, Corporate Development and Investor Relations 
IR@goV2X.com 
719-637-5773

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SOURCE V2X, Inc.

FAQ

What is the value of V2X's new DEA contract?

V2X (NYSE: VVX) has been awarded a $170 million contract to support the DEA's aircraft fleet.

How many aircraft will V2X service under the new DEA contract?

V2X will provide support services for over 100 DEA aircraft under the contract.

How long is V2X's new DEA contract?

The new DEA contract awarded to V2X is a five-year contract.

How long has V2X been supporting the DEA's aircraft fleet?

V2X has been supporting the DEA's aircraft fleet since 1997, representing over 25 years of partnership.

What services will V2X provide under the new DEA contract?

V2X will provide support for the DEA's special mission aircraft and pilot development programs to maintain operational readiness of the fleet.