Booz Allen Hamilton Holding Corporation - BAH STOCK NEWS

Booz Allen Hamilton (NYSE: BAH) has appointed William Vass as Chief Technology Officer (CTO), starting June 17, 2024. This appointment aligns with Booz Allen's VoLT growth strategy, focusing on AI, cyber, and software and data-centric capabilities. Vass, with over 40 years in various tech leadership roles, most recently served as VP of engineering at Amazon Web Services (AWS). He will succeed Susan Penfield, who retires in July after 30 years at Booz Allen. Vass’s extensive background includes roles at startups and Fortune 100 companies, and he has received commendations like the President’s Award for Distinguished Federal Civilian Service.

PAR Technology (NYSE: PAR), a global restaurant technology firm, announced the sale of its Government operating segment, consisting of PAR Government Systems (PGSC) and Rome Research (RRC), for a total of $102 million.

The sale of PGSC to Booz Allen Hamilton (NYSE: BAH) was finalized on June 7, 2024, while RRC is expected to be sold to NexTech Solutions Holdings by the end of Q2, 2024. This divestiture aligns with PAR's strategic aim to focus on becoming the foremost technology provider to enterprise foodservice.

CEO Savneet Singh emphasized that the move will allow PAR to reinvest in areas offering the highest returns, enhancing their primary business.

Booz Allen Hamilton (NYSE: BAH) has acquired PAR Government Systems (PGSC), a subsidiary of PAR Technology (NYSE: PAR). The acquisition aims to enhance Booz Allen's technology solutions for national defense, focusing on situational awareness, decision-making advantages, and counter-uncrewed aerial systems (UAS) threats.

PGSC, founded in 1985 and headquartered in Rome, New York, specializes in real-time communications and mobile situational awareness. Its expertise will augment Booz Allen’s existing technologies, allowing for a more comprehensive array of solutions for defense clients.

PGSC's capabilities include Integrated Tactical Solutions, Innovative and Commercial Solutions, and Intelligence and Readiness Operations. These will integrate into Booz Allen's global defense business, aiming to deliver advanced geospatial mapping, improved situational awareness, and support for Low Earth Orbit space data solutions.

This acquisition aligns with Booz Allen's VoLT growth strategy and Department of Defense priorities.

Booz Allen Hamilton (NYSE: BAH) has announced that former Defense Intelligence Agency (DIA) Director, retired Army Lieutenant General Scott Berrier, has joined the firm as a senior vice president in its national security business. Berrier, who brings over 40 years of experience in intelligence and defense, will focus on strategic growth and development for Booz Allen’s federal clients. In his previous role as DIA Director, Berrier led over 16,500 personnel through significant organizational transformation. His expertise includes leading intelligence teams and creating initiatives like the Intelligence, Surveillance, and Reconnaissance (ISR) Task Force. Berrier aims to leverage his experience to enhance U.S. resilience and security in the intelligence community.

Booz Allen Hamilton (NYSE: BAH) released its preliminary financial results for Q4 and full fiscal year 2024. The company reported a 5% increase in annual revenue, reaching $8.2 billion. Net income also grew by 7% year-over-year, totaling $630 million. Diluted earnings per share (EPS) for the year were $4.70, showing an 8% improvement. The company’s Q4 revenue was $2.1 billion, a 3% increase from the same period last year. However, Q4 net income decreased by 4% to $140 million, and diluted EPS for the quarter were $1.05, down 2% YOY. The firm’s guidance for fiscal 2025 projects revenues to be between $8.4 billion and $8.6 billion, with an expected EPS range of $4.90 to $5.10.

Booz Allen Hamilton has published a new report identifying the top 10 emerging technologies important for the Department of Defense (DOD) and national security. The research, developed by Booz Allen's Tech Scouting team, highlights technologies poised to make immediate mission impacts over the next one to three years. These include AI accelerator chips, multimodal AI, generative AI software development, post-quantum cryptography, high-density energy storage, alternative position navigation timing (Alt-PNT), space domain awareness tech, autonomous swarms, non-kinetic counter-UAS, and hypersonics. The report emphasizes dual-use technologies that benefit both commercial and military applications, urging a strategic approach to integrating these innovations to maintain U.S. global competitiveness.

Booz Allen Hamilton (NYSE: BAH) has been awarded a Blanket Purchase Agreement (BPA) by the U.S. Environmental Protection Agency (EPA) Office of Research and Development (ORD) to provide AI, machine learning (ML), and data analytics capabilities to support the agency's modernization efforts. The BPA has a ceiling of $431 million and aims to infuse innovation into the EPA's critical missions of protecting human health and the environment. Booz Allen will leverage its expertise in scientific modeling, geospatial analysis, and environmental science to enhance the agency's ability to deliver accurate, science-based information.

Booz Allen Hamilton (NYSE: BAH) has hired Retired Vice Admiral Roy Kitchener and Retired Major General David Gaedecke as senior executive advisors in its global defense business to accelerate the development and delivery of new solutions for global defense challenges. The firm aims to prioritize strategic investments in talent to advance defense missions, leveraging the vast experience of these new hires to address complex mission challenges and deliver innovation and technology at the speed of mission need.

Booz Allen Hamilton (NYSE: BAH) has launched aiSSEMBLE Baseline, an open-source AI solution to simplify AI system engineering and deployment. The solution aims to reduce pilot purgatory, vendor lock-in, and ensure repeatability. The company offers foundational code and documentation for free use by various entities, aiming to enhance mission impact, minimize vendor lock-in, and provide easy access to innovation. aiSSEMBLE is a core tool for AI delivery, leveraging industry-leading AI reference architecture and machine learning patterns. Furthermore, the solution is being used to support a Broad Agency Announcement at NOAA, demonstrating Booz Allen's commitment to advancing AI technology.