Leidos Awarded Contract to Support UK MOD PICASSO programme

Rhea-AI Summary

Leidos (NYSE: LDOS) has secured a three-year contract (with an optional fourth year) worth up to £70M from the UK's MOD to enhance geospatial intelligence (GEOINT) through the PICASSO programme. This initiative aims to modernize and streamline the UK's defense capabilities by integrating legacy systems into a more efficient information environment. The contract focuses on improving service delivery, user experience, and transparency, while enabling informed decision-making for national security. Leidos plans to leverage its technical expertise to support these modernization efforts.

Positive

• Awarded a significant £70M contract from the MOD to enhance GEOINT capabilities.
• Modernization initiatives to improve service delivery and user experience.
• Continued support of the UK and Five Eyes community enhances strategic relationships.

Negative

• None.

LONDON, Nov. 10, 2021 /PRNewswire/ -- Leidos (NYSE: LDOS), a FORTUNE^® 500 science and technology leader, was recently awarded a three-year (with optional 4^th year) contract by the MOD (worth up to £70M with all options) to deliver GEOINT capability in support of the UK's National Centre for Geospatial Intelligence as part of the PICASSO programme. 

PICASSO is an enduring capability programme that provides UK Defence with an integrated information environment for the exploitation, production and dissemination of geospatial intelligence (GEOINT)¹. PICASSO outputs enable UK Armed Forces and Partners across Government (PAG) to undertake informed decision making to fulfil their role in a safe and legal manner in support of national security tasks. A collection of legacy systems, the programme is gradually being moved to a common service management model delivered with industry standard approaches to service management, agile development and delivery.

Through this award, Leidos will introduce a number of modernisation initiatives to improve service delivery, user experience, agile change and overall programme transparency.  Specifically modernising infrastructure, storage and end user access will be carried out in an agile manner, in collaboration with the MoD's internal service provider community.

"We're proud to continue our support of the UK and Five eyes community – providing innovations and deploying efficient and effective capabilities and technologies," said Simon Fovargue, Chief Executive, Leidos UK & Europe. "By leveraging our technical, engineering and software expertise, our teams will work to advance the MOD's agile and modernization efforts, providing our nation's leaders, military and allies with actionable intelligence and critical information to protect and defend our military, government and international partners." 

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 43,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Va., Leidos reported annual revenues of approximately $12.30 billion for the fiscal year ended January 1, 2021. For more information, visit www.Leidos.com.

Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 1, 2021, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

Contact:
Robert McNeill
44 7599 804 152
robert.mcneill@leidos.com

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SOURCE Leidos Holdings, Inc.

FAQ

What is the purpose of the contract awarded to Leidos on November 10, 2021?

The contract aims to enhance geospatial intelligence (GEOINT) capabilities as part of the MOD's PICASSO programme.

What is the value of the contract awarded to Leidos by the MOD?

The contract is worth up to £70M with an option for a fourth year.

How long is the contract that Leidos received for the PICASSO programme?

The contract is for three years, with the possibility of extending it for a fourth year.

Who is the Chief Executive of Leidos UK?

Simon Fovargue is the Chief Executive of Leidos UK.

What are the modernization initiatives mentioned in the Leidos press release?

The initiatives include improving infrastructure, storage, and user access to enhance service delivery and program transparency.