Verizon Wins $1.6B Task Order To Modernize US Embassies

Verizon Communications Inc VZ bagged a $1.58 billion, 10-year new Enterprise Infrastructure Solutions (EIS) contract.
Verizon would modernize the global communications infrastructure and provide IT services for each Department of State's (DOS) U.S. embassies, consulars, and other critical international locations.
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The contract includes implementing and managing network solutions for the Department's non-domestic footprint, including Asia, Africa, the Middle East, and South America.
Verizon Public Sector has captured EIS task orders from the federal government, including recent wins with the Federal Bureau of Investigation and the U.S. Department of Defense.
Maggie Hallbach, SVP, Public Sector at Verizon, said, "We have supported the Department of Defense and other national security and civilian customers with global critical infrastructure and communications for more than three decades."
In September, The Defense Department awarded Palantir Technologies Inc PLTR a $229 million deal to develop and deliver artificial intelligence and machine learning capabilities for the Special Forces, the Joint Staff, and every branch of the U.S. Armed Services.
Price Action: VZ shares traded lower by 0.73% at $39.52 in the premarket on the last check Wednesday.