Telos Awarded $13.5M FBI Contract for Enterprise Risk Management

Rhea-AI Summary

Telos Corporation (NASDAQ: TLS) has secured a contract worth approximately $13.5 million from the FBI. This contract entails the deployment of Telos' Xacta solution to enhance governance, risk management, and compliance (GRC) within the Bureau's cyber security framework. The base value of the contract is over $4 million and spans a year, with options for four additional years. Xacta's capabilities include real-time risk assessments, customizable interfaces, and integration within various cloud architectures.

Positive

• Secured a $13.5 million contract with the FBI for deploying Xacta.
• Base contract value exceeds $4 million with four optional years.
• Xacta solution addresses FBI's GRC implementation challenges.

Negative

• None.

Bureau’s Enterprise Information Security Section to leverage Xacta to meet stringent GRC requirements

ASHBURN, Va., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Telos® Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced that it was awarded a contract valued at approximately $13.5 million, including options, by the Federal Bureau of Investigation (FBI) to deploy its Xacta solution and establish an interactive, real-time risk assessment capability across its risk management framework workloads.

The base contract is valued at over $4M and runs for a one year period, with four option years. As part of the contract, Telos will provide governance, risk management and compliance (GRC) support to the FBI’s Enterprise Information Security Section while optimizing technology, people and processes. Additionally, Telos will install, integrate and support Xacta within the Commercial Cloud Services (C2S), Secret Commercial Cloud Services (S-C2S) and GovCloud architectures. To be selected, Xacta needed to fulfill the FBI’s requirements, including a customizable user interface, inherited security controls, status visibility and more.

“The FBI experienced persistent challenges with their GRC requirements implementation,” said John B. Wood, CEO and chairman, Telos. “With its seamless deployment and automation, Xacta was the logical answer to mitigate the challenges. Xacta has been successfully deployed across the federal government including the Intelligence Community, civilian agencies and the Department of Defense, and we are excited to extend this work to the FBI.”

The Xacta suite of enterprise cyber risk management and compliance automation solutions helps organizations meet the complex challenges of managing IT risk with continuous compliance monitoring, security assessment and ongoing authorization. For more information about Xacta, including various use cases, visit: https://www.telos.com/xacta.

About Telos Corporation
Telos Corporation (NASDAQ: TLS) empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions to ensure that personnel can work and collaborate securely and productively. The company serves military, intelligence and civilian agencies of the federal government, allied nations and commercial organizations around the world.

Media:
Mia Wilcox
Merritt Group on behalf of Telos Corporation
Email: wilcox@merrittgrp.com         
Phone: (610) 564-6773

Investors:
Brinlea Johnson
The Blueshirt Group on behalf of Telos Corporation
brinlea@blueshirtgroup.com

FAQ

What is the value of the contract awarded to Telos Corporation by the FBI?

The contract is valued at approximately $13.5 million.

How long is the contract for Telos Corporation's Xacta solution?

The base contract is for one year, with options for four additional years.

What does Telos Corporation's Xacta solution provide for the FBI?

Xacta provides governance, risk management, and compliance (GRC) support, including real-time risk assessments.

In which architectures will Xacta be integrated for the FBI?

Xacta will be integrated within Commercial Cloud Services, Secret Commercial Cloud Services, and GovCloud architectures.