Leidos awarded $375 million contract to support Director of National Intelligence

Rhea-AI Summary

Leidos (NYSE: LDOS) awarded $375 million prime contract to provide intelligence, technical, financial, and management services to the Office of the Director of National Intelligence (ODNI). Contract includes a one-year base period of performance and six one-year options. Leidos will work to maximize synergies and efficiencies for ODNI by aligning intelligence, technical, financial, and management services with clear lines of contractor responsibility.

Positive

• Awarded value of $375 million contract is a significant financial win for Leidos, showcasing its continued success in the intelligence and technology sector.
• Seventeen-year legacy supporting ODNI demonstrates Leidos' long-term commitment and expertise in the field.
• Focus on maximizing synergies and efficiencies for ODNI highlights Leidos' dedication to providing effective and efficient mission support to the intelligence community.

Negative

• None.

RESTON, Va., July 19, 2023 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, was recently awarded a prime contract to provide intelligence, technical, financial and management services to the Office of the Director of National Intelligence (ODNI). The single award, cost-plus-award-fee contract has a one-year base period of performance and six one-year options. The awarded value is $375 million.

"We are pleased to continue our seventeen-year legacy supporting ODNI," said Roy Stevens, Leidos Intelligence Group president. "Our exceptional experience and subject matter expertise will enable timely delivery and streamlined coordination while adapting to a dynamic environment. We look forward to continuing this work and ensuring ODNI receives the best support to carry out its mission."

Leidos will work to maximize synergies and efficiencies for ODNI by aligning intelligence, technical, financial and management services with clear lines of contractor responsibility. This will help enable ODNI to execute its responsibilities, achieve the DNI's vision and support effective and efficient mission success to the intelligence community.

Through this contract Leidos will provide analytic, intelligence management, and systems analysis support covering a wide range of regional and functional topics. These intelligence services will operate in an environment where priorities continuously and quickly evolve. Technical services include systems integration, cybersecurity, science and technology, counterintelligence, IT project management, security and risk management. Additional management services include supporting facilities, assets, logistics and information.

About Leidos

Leidos is a Fortune 500® technology, engineering, and science solutions and services leader working to solve the world's toughest challenges in the defense, intelligence, civil, and health markets. The company's 46,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $14.4 billion for the fiscal year ended December 30, 2022. For more information, visit www.Leidos.com.

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 30, 2022, and other such filings that Leidos makes with the SEC from time to time.  Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

 

Contact:	Melissa Dueñas
	(571) 526-6850
	duenasml@leidos.com
	Thomas Doheny
	(571) 474-4735
	dohenyt@leidos.com
	Brandon VerVelde
	(571) 526-6257
	Brandon.p.vervelde@leidos.com

 

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SOURCE Leidos Holdings, Inc.

FAQ

What is the contract value awarded to Leidos for the ODNI project?

The contract value awarded to Leidos for the ODNI project is $375 million.

What services will Leidos provide under the contract?

Leidos will provide intelligence, technical, financial, and management services to ODNI, including analytic support, systems integration, cybersecurity, science and technology, counterintelligence, IT project management, security and risk management, and additional management services.

How long is the initial period of performance for the contract?

The initial period of performance for the contract is one year, with six one-year options.