Palantir Wins £75M Defense Contract

Palantir Technologies Inc PLTR bagged a landmark three-year £75 million Enterprise Agreement (E.A.) with the U.K. Ministry of Defense (MOD).
The partnership will support the MOD's digital transformation.
Spearheaded by Defense Digital and powered by Palantir, the digital transformation will see the MOD treat data as a strategic asset, harnessing its power to deliver superior military advantage and greater efficiency across the enterprise, from headquarters to the front lines.
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Working closely with Defense Digital, Palantir software will enable the MOD to exploit data at scale and speed to make better decisions across Defense.
Building on more than a decade of partnership, the deal will enable any part of the U.K. Defense to gain access to Palantir software across multiple classifications.
Director Chief Data at Defense Digital Caroline Bellamy said: "As a strategic partner in a complex Defense Data eco-system, Palantir products and services are helping Defense to become a truly integrated digital enterprise, with data exploitation at the heart of a faster, better, and more integrated Defense."
Price Action: PLTR shares traded lower by 0.95% at $6.25 in the premarket on the last check Wednesday.