Maximus Awarded $323M Contract for Expanded Role to Modernize and Support Transformation of SEC’s EDGAR System

Rhea-AI Summary

Maximus has secured a $323 million contract with the Securities and Exchange Commission (SEC), expanding its support for the EDGAR system. This 10-year contract involves enhancing IT infrastructure, digital transformation, agile software development, and cybersecurity services. As the incumbent through the acquisition of Attain, Maximus will maintain comprehensive EDGAR application operations and filer support. This contract underscores Maximus's role in helping agencies achieve critical IT modernization goals.

Positive

• Award of a $323 million contract with SEC enhances revenue potential.
• Expansion of services for EDGAR system supports growth in government contracts.
• Maximus retains incumbent status through the acquisition of Attain.

Negative

• None.

Maximus to provide additional critical enterprise support services and next-generation capabilities for SEC’s EDGAR

RESTON, Va.--(BUSINESS WIRE)-- Maximus (NYSE: MMS), a leading provider of government services worldwide, announced today that it has been awarded a contract from the Securities and Exchange Commission (SEC) worth $323 million. Under the 10-year contract, Maximus will expand its existing Enterprise EDGAR (Electronic Data Gathering, Analysis, and Retrieval) System Support Services to encompass the entire EDGAR system. The contract was awarded using the SEC OneIT IDIQ.

The contract award expands the scope of work Maximus currently holds to include enterprise IT infrastructure, modernization, digital transformation, agile software development, and cybersecurity services for EDGAR.

Under this contract award, Maximus will also continue to deliver comprehensive EDGAR application and ancillary system operations and maintenance as well as filer support.

Maximus received the award as the incumbent through its acquisition of Attain, a longtime SEC partner, earlier this year.

“This contract with the SEC is further validation of the work that has been performed and we look forward to helping the SEC meet their critical mission objectives including protecting investors while maintaining fair, orderly, and efficient markets,” said Teresa Weipert, General Manager of Maximus Federal. “At Maximus, our focus is aimed at helping agencies achieve their IT modernization and digital transformation goals. We look forward to working alongside the SEC to conceptualize the future state of EDGAR.”

The SEC’s EDGAR system performs automated collection, validation, indexing, acceptance, and forwarding of submissions by companies and others who are required by law to file forms with the agency.

About Maximus
Since 1975, Maximus (NYSE: MMS) has operated under its founding mission of Helping Government Serve the People^®, enabling citizens around the globe to successfully engage with their governments at all levels and across a variety of health and human services programs. Maximus delivers innovative business process management and technology solutions that contribute to improved outcomes for citizens and higher levels of productivity, accuracy, accountability, and efficiency of government-sponsored programs. With approximately 34,000 employees worldwide, Maximus is a proud partner to government agencies in the United States, Australia, Canada, Italy, Saudi Arabia, Singapore, South Korea, Sweden, and the United Kingdom. For more information, visit maximus.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005367/en/

Investor Relations

James Francis 703.251.8526

Madison West 703.251.8443

InvestorRelations@maximus.com

Media & Public Relations

Eileen Rivera 571.329.3410

media@maximus.com

Source: Maximus

FAQ

What is the value of the SEC contract awarded to Maximus?

The SEC contract awarded to Maximus is worth $323 million.

What services will Maximus provide under the SEC contract?

Maximus will provide enterprise IT infrastructure, digital transformation, agile software development, and cybersecurity services for the EDGAR system.

How long is the contract Maximus received from the SEC?

The contract awarded to Maximus is a 10-year agreement.

Why is the SEC contract significant for Maximus?

The SEC contract is significant for Maximus as it expands their service scope and reinforces their position in government contracts.