Verizon Business awarded $77.7M task order to modernize National Weather Service network infrastructure

Rhea-AI Summary

Verizon Business has been awarded a $77.7 million task order to modernize the National Weather Service's (NWS) network infrastructure. The project aims to transition NWS's voice and data services from the Networx contract to the Enterprise Infrastructure Solutions (EIS) vehicle. This upgrade will support NWS's critical mission of providing weather, water, and climate data, forecasts, and warnings.

The task order focuses on increasing cost-effectiveness, reducing total ownership costs, improving network performance, and incorporating new technologies. This award follows Verizon's recent three-year Cooperative Research and Development Agreement with NOAA to explore rapid deployment of uncrewed aircraft systems for storm damage assessment.

As a NOAA/NWS Weather Ready Nation Ambassador, Verizon supports efforts to enhance national readiness against extreme weather events. Verizon Communications Inc. (NYSE, Nasdaq: VZ) generated revenues of $134.0 billion in 2023.

Positive

• Secured a $77.7 million task order from the National Weather Service
• Strengthens partnership with a key government agency
• Potential for improved service offerings and technology integration
• Aligns with Verizon's expertise in network infrastructure modernization

Negative

• None.

News Market Reaction

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-0.15% News Effect

On the day this news was published, VZ declined 0.15%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

WASHINGTON, July 29, 2024 (GLOBE NEWSWIRE) -- Verizon Business, a long-term trusted partner of the National Weather Service (NWS), has been awarded a task order valued at nearly $80 million to transition the NWS’s current voice and data services from the Networx contract to the Enterprise Infrastructure Solutions (EIS) vehicle. The transition will help support the NWS’s mission-critical work by providing weather, water and climate data, forecasts, warnings and impact-based decision support services.

To facilitate the transition, the NWS, an agency within the Department of Commerce (DOC), sought a vendor with the proven ability to:

• Increase the cost-effectiveness of its services
• Reduce total cost of ownership
• Improve network performance and manageability
• Incorporate new technologies into its transformational roadmap

Verizon Business’s extensive experience in network infrastructure modernization and connectivity solutions made them an ideal partner for this critical project.

“We’re proud to partner with the National Weather Service in their mission to keep our communities safe,” said Michael Adams, Associate Vice President for Federal Civilian Services at Verizon. “Through the modernization of network infrastructure, we can help enhance the capabilities of this vital federal agency as they continue to provide timely and reliable - and in some cases, life-saving - weather information to the American public.”

This award follows the announcement of a three-year Cooperative Research and Development Agreement (CRADA) between the National Oceanic and Atmospheric Administration (NOAA) and Verizon Frontline to explore new strategies to rapidly deploy uncrewed aircraft systems that will collect and distribute imagery of damage resulting from severe storms such as tornadoes and hurricanes. As a NOAA/NWS Weather Ready Nation Ambassador, Verizon also supports the NWS’s efforts to improve the nation’s readiness, responsiveness, and resilience against extreme weather, water, and climate events.

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 the task order Verizon Business (VZ) received from the National Weather Service?

Verizon Business was awarded a task order valued at $77.7 million from the National Weather Service.

What services will Verizon Business (VZ) provide to the National Weather Service under this contract?

Verizon Business will transition the National Weather Service's current voice and data services from the Networx contract to the Enterprise Infrastructure Solutions (EIS) vehicle, modernizing their network infrastructure.

How does this task order align with Verizon's (VZ) other partnerships in weather-related services?

This task order follows Verizon's recent three-year Cooperative Research and Development Agreement with NOAA to explore rapid deployment of uncrewed aircraft systems for storm damage assessment. Verizon is also a NOAA/NWS Weather Ready Nation Ambassador.

What were Verizon's (VZ) revenues in 2023?

Verizon Communications Inc. generated revenues of $134.0 billion in 2023.