STOCK TITAN

U.S. Department of Defense awards Verizon Business with contract extension

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

Verizon has secured a 24-month extension for its Global Network Solutions (GNS) contract with the Department of Defense, bringing the total contract value to over $98 million. The extension aims to establish a point-to-point connection in Southwest Asia for critical network communications. This builds on Verizon's extensive DoD partnerships, including a $2.67 billion U.S. Navy contract, three EIS awards worth nearly $1 billion, and a $15 million EIS task order for Navy voice and data services. The GNS contract is set for recompetition and award by 2026.

Verizon ha ottenuto un'estensione di 24 mesi per il suo contratto di Soluzioni di Rete Globali (GNS) con il Dipartimento della Difesa, portando il valore totale del contratto a oltre 98 milioni di dollari. L'estensione mira a stabilire una connessione punto-punto nel sud-ovest asiatico per comunicazioni di rete critiche. Questo si basa sulle ampie collaborazioni di Verizon con il Dipartimento della Difesa, incluso un contratto con la Marina degli Stati Uniti del valore di 2,67 miliardi di dollari, tre premi EIS del valore di quasi 1 miliardo di dollari, e un ordine di lavoro EIS di 15 milioni di dollari per servizi vocali e dati della Marina. Il contratto GNS è programmato per essere riconsiderato e assegnato entro il 2026.

Verizon ha asegurado una extensión de 24 meses para su contrato de Soluciones de Red Global (GNS) con el Departamento de Defensa, llevando el valor total del contrato a más de 98 millones de dólares. La extensión tiene como objetivo establecer una conexión punto a punto en el suroeste de Asia para comunicaciones de red críticas. Esto se basa en las amplias asociaciones de Verizon con el Departamento de Defensa, incluyendo un contrato con la Marina de los Estados Unidos de 2.67 mil millones de dólares, tres premios EIS por casi 1 mil millones de dólares, y una orden de tarea EIS de 15 millones de dólares para servicios de voz y datos de la Marina. El contrato GNS está programado para ser recompensado y adjudicado para 2026.

버라이즌은 국방부와의 글로벌 네트워크 솔루션(GNS) 계약을 24개월 연장하며 총 계약 가치를 9천800만 달러 이상으로 끌어올렸습니다. 이번 연장은 남서 아시아에서 중요한 네트워크 통신을 위한 점대점 연결을 수립하는 것을 목표로 하고 있습니다. 이는 2조6700억 달러 규모의 미 해군 계약, 거의 10억 달러짜리 세 개의 EIS 수상, 그리고 해군 음성 및 데이터 서비스를 위한 1천500만 달러 EIS 작업 지시와 같은 버라이즌의 광범위한 국방부 파트너십에 기반하고 있습니다. GNS 계약은 2026년까지 재경쟁 및 수여될 예정입니다.

Verizon a obtenu une extension de 24 mois pour son contrat de Solutions Réseau Globales (GNS) avec le Département de la Défense, portant la valeur totale du contrat à plus de 98 millions de dollars. L'extension vise à établir une connexion point à point en Asie du Sud-Ouest pour des communications réseau critiques. Cela s'appuie sur les vastes partenariats de Verizon avec le Département de la Défense, y compris un contrat de la Marine américaine d'une valeur de 2,67 milliards de dollars, trois prix EIS d'une valeur de près de 1 milliard de dollars, et un ordre de mission EIS de 15 millions de dollars pour des services vocaux et de données pour la Marine. Le contrat GNS doit être renégocié et attribué d'ici 2026.

Verizon hat eine 24-monatige Verlängerung für seinen Vertrag über Globale Netzwerklösungen (GNS) mit dem Verteidigungsministerium gesichert, wodurch der Gesamtwert des Vertrags auf über 98 Millionen Dollar steigt. Die Verlängerung soll eine Punkt-zu-Punkt-Verbindung in Südwestasien für kritische Netzwerkkommunikationen herstellen. Dies baut auf den umfangreichen Partnerschaften von Verizon mit dem Verteidigungsministerium auf, einschließlich eines Vertrages mit der US Navy im Wert von 2,67 Milliarden Dollar, drei EIS-Auszeichnungen im Wert von fast 1 Milliarde Dollar und einer EIS-Auftragserteilung über 15 Millionen Dollar für Sprach- und Datendienste der Navy. Der GNS-Vertrag steht bis 2026 zur Neuvergabe und Vergabe an.

Positive
  • Contract extension increases total GNS contract value to $98 million
  • Demonstrates continued trust from Department of Defense
  • Part of larger defense contracts portfolio including $2.67B Navy contract
  • Additional EIS awards valued at nearly $1B
  • Secured $15M EIS task order for Navy services
Negative
  • Current GNS contract faces recompetition by 2026

Insights

This contract extension represents a significant win for Verizon's federal business segment. The $98 million Global Network Solutions contract extension, coupled with other major DoD contracts including the $2.67 billion Navy contract and nearly $1 billion in EIS awards, demonstrates Verizon's strong positioning in the federal telecommunications market.

The strategic importance lies in the Southwest Asia point-to-point connection project and the modernization of legacy TDM systems. This aligns with broader federal infrastructure modernization initiatives and positions Verizon favorably for the 2026 contract recompete. The company's expanding defense portfolio and proven execution capability enhance its competitive advantage in securing future government contracts.

The TDM elimination mandate presents a significant technical transition in federal communications infrastructure. This project's focus on replacing legacy systems with modern networking solutions indicates a broader market opportunity as other federal agencies undergo similar modernization efforts. The point-to-point connection in Southwest Asia is particularly noteworthy, as it strengthens critical military communications infrastructure in a strategically important region.

The award brings the total Global Network Solutions contract value to over $98 million

WASHINGTON, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Verizon today announced a 24-month task order extension for its Global Network Solutions (GNS) contract with the Department of Defense (DoD). With this extension, the total revenue for the GNS contract, originally awarded in 2016, will now amount to over $98 million.

The purpose of the extension is to create a point-to-point connection within Southwest Asia that provides critical network communications capabilities for the U.S. government. The scope of work aligns with DoD CIO mandates for the elimination of time division multiplexing (TDM), an exercise Verizon is performing across multiple federal agencies.

“Verizon’s role in delivering a secure, point-to-point connection in the specified area highlights the Department of Defense’s continued confidence in our ability to provide critical network communications in strategic regions,” said David Rouse, head of Verizon’s defense business.

Verizon’s ongoing partnership with the DoD is extensive, including a 10-year, multi-award $2.67 billion U.S. Navy contract, three separate EIS awards valued at nearly $1 billion, that included an overhaul of the Pentagon’s network, and another $15 million EIS task order where Verizon Business will provide the U.S. Navy with voice and data services at domestic and international locations.

The multiple-award GNS contract is scheduled to be recompeted and awarded by 2026.

For more information on Verizon’s work across the public sector, visit our website.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.0 billion in 2023. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Geoffrey Basye
geoffrey.basye@verizon.com
(202) 748-1882


FAQ

What is the value of Verizon's (VZ) extended DoD Global Network Solutions contract?

The total value of Verizon's Global Network Solutions contract with the Department of Defense is now over $98 million following the 24-month extension.

When will Verizon's (VZ) Global Network Solutions contract with DoD be recompeted?

The multiple-award Global Network Solutions contract is scheduled to be recompeted and awarded by 2026.

What is the purpose of Verizon's (VZ) DoD contract extension?

The extension aims to create a point-to-point connection within Southwest Asia to provide critical network communications capabilities for the U.S. government.

What is the total value of Verizon's (VZ) current U.S. Navy contract?

Verizon has a 10-year, multi-award $2.67 billion contract with the U.S. Navy.

Verizon Communications

NYSE:VZ

VZ Rankings

VZ Latest News

VZ Stock Data

177.39B
4.21B
0.04%
65.53%
1.2%
Telecom Services
Telephone Communications (no Radiotelephone)
Link
United States of America
NEW YORK