IT Services Provider CACI Bags Navy Contract With $1.2B Ceiling

CACI International Inc CACI has secured a seven-year single-award indefinite delivery indefinite quantity (IDIQ) mission technology contract, called Spectral, with a $1.2 billion ceiling.

The contract is for the U.S. Navy's Naval Information Warfare Systems Command (NAVWAR).

The Navy's Spectral mission is to provide rapid capability enhancements for tactical mission operations.

CACI and its teammates will utilize its software development and electromagnetic spectrum capabilities to develop and deploy the Navy's next-generation shipboard signals intelligence (SIGINT), electronic warfare (EW), and information operations (IO) weapon systems.

The company's open-architecture approach will provide the Navy with tools and capabilities an support rapid, informed, and accurate decision-making.

"Our strategy to invest ahead of customer need sets us apart from our competition and allows us to provide the most advanced technology, enabled by software, at the speed of ever-accelerating threats," said President and CEO John Mengucci.

Price Action: CACI shares are trading lower by 0.21% at $327.23 on the last check Wednesday.