PAE Awarded Position on $3.3 Billion State Department Global Support Strategy 2.0 IDIQ

Rhea-AI Summary

PAE has been awarded a significant contract as one of three prime contractors for the U.S. Department of State’s Global Support Strategy 2.0, valued at up to $3.3 billion over 10 years. This contract focuses on providing integrated business process solutions essential for processing non-immigrant and immigrant visa applications globally. PAE will compete for task orders by utilizing its strengths in biometric collection and secure data processing. The contract aims to support consular operations in 120 countries, representing 98% of the State Department’s visa processing.

Positive

• Awarded a $3.3 billion contract, enhancing revenue potential.
• Strengthens PAE's position as a key contractor for U.S. government operations.
• Opportunity to leverage strengths in biometric collection and secure data processing.

Negative

• None.

FALLS CHURCH, Va., Jan. 06, 2021 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW), a global leader in delivering smart solutions to the U.S. government and its allies, has been selected as one of three prime contractors on the U.S. Department of State’s Global Support Strategy 2.0 indefinite delivery, indefinite quantity contract vehicle, valued at up to $3.3 billion over 10 years. Under this contract, the company will provide integrated business process solutions to assist with the worldwide processing of non-immigrant and immigrant visa applications. PAE will compete for task orders by leveraging the company’s strengths in biometric collection solutions, secure data processing and integrated technology services.

Through the contract, which facilitates 98 percent of the State Department’s visa processing across the world, PAE will have the opportunity to provide integrated solutions for consular operations at U.S. embassies and consulates in 120 countries.

“Leveraging our innovative capabilities, enhanced through our 2017 acquisition of FCi Federal, we believe PAE is uniquely positioned to deliver proprietary, customized, technology-enabled solutions for the State Department, adding to our expanding and diverse portfolio of support for the U.S. government,” said PAE President and CEO John Heller. “This program highlights PAE’s continued success executing our strategy of leveraging past acquisitions to apply acquired capabilities, open significant addressable market areas for growth, and win new mission-critical programs across the globe.”

About PAE
For 65 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of about 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of our clients. Our headquarters is in Falls Church, Virginia. Find us online at pae.com, on Facebook, Twitter and LinkedIn.

Forward-Looking Statements

This press release may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about PAE’s possible or assumed future results of operations, financial results, backlog, estimation of resources for contracts, risks related to IDIQ contracts, strategy for and management of growth, needs for additional capital, risks related to U.S. government contracting generally, including congressional approval of appropriations, and bid protests. These forward-looking statements are based on PAE’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PAE’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Forward-looking statements included in this release speak only as of the date of this release. PAE does not undertake any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release except as may be required by the federal securities laws.

For media inquiries regarding PAE, contact:

Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
terrence.nowlin@pae.com

For investor inquiries regarding PAE, contact:

Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com 

FAQ

What is the value of the contract awarded to PAE?

The contract awarded to PAE is valued at up to $3.3 billion over 10 years.

What services will PAE provide under the Global Support Strategy 2.0 contract?

PAE will provide integrated business process solutions for processing non-immigrant and immigrant visa applications worldwide.

In how many countries will PAE's contract support visa processing?

PAE's contract will support visa processing in 120 countries.

What percentage of the State Department's visa processing does PAE's contract facilitate?

PAE's contract facilitates 98% of the State Department's visa processing.

When was the press release regarding PAE's contract issued?

The press release was issued on January 6, 2021.