STOCK TITAN

Verizon Business secures new 5-year agreement with the U.S. Department of Agriculture (USDA)

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

Verizon Business has secured a new 5-year agreement with the U.S. Department of Agriculture (USDA), valued at $21 million in the first year. The contract will provide wireless services and service-enabled devices supporting over 60,000 lines of service, with potential for mobile broadband expansion across USDA field offices. The partnership aims to enhance USDA's connectivity capabilities nationwide, supporting its mission in modern agriculture and rural development through improved data management, streamlined operations, and enhanced decision-making capabilities.

Verizon Business ha ottenuto un nuovo contratto di 5 anni con il Dipartimento dell'Agricoltura degli Stati Uniti (USDA), del valore di 21 milioni di dollari nel primo anno. Il contratto fornirà servizi wireless e dispositivi abilitati per il servizio a oltre 60.000 linee di servizio, con potenziali espansioni della banda larga mobile negli uffici sul campo dell'USDA. La partnership mira a migliorare le capacità di connettività dell'USDA a livello nazionale, sostenendo la sua missione nell'agricoltura moderna e nello sviluppo rurale attraverso una migliore gestione dei dati, operazioni semplificate e capacità decisionali potenziate.

Verizon Business ha asegurado un nuevo contrato de 5 años con el Departamento de Agricultura de EE. UU. (USDA), valorado en 21 millones de dólares en el primer año. El contrato proporcionará servicios inalámbricos y dispositivos habilitados para servicios que soportan más de 60,000 líneas de servicio, con la posibilidad de expansión de banda ancha móvil en las oficinas del USDA. La asociación tiene como objetivo mejorar las capacidades de conectividad del USDA a nivel nacional, apoyando su misión en la agricultura moderna y el desarrollo rural mediante una mejor gestión de datos, operaciones más eficientes y capacidades mejoradas para la toma de decisiones.

버라이즌 비즈니스미국 농무부(USDA)와 5년간의 새로운 계약을 체결했으며, 첫 해에 2천 1백만 달러의 가치를 지니고 있습니다. 이 계약은 60,000개 이상의 서비스 라인을 지원하는 무선 서비스와 서비스 지원 장치를 제공하며, USDA 현장 사무소에서 모바일 브로드밴드 확장의 잠재력을 가지고 있습니다. 이 파트너십은 USDA의 전국적인 연결 능력을 향상시키고, 데이터를 개선하여 현대 농업 및 농촌 개발 임무를 지원하며, 운영 간소화와 의사 결정을 향상시키는 데 기여하는 것을 목표로 하고 있습니다.

Verizon Business a sécurisé un nouveau contrat de 5 ans avec le Département de l'Agriculture des États-Unis (USDA), d'une valeur de 21 millions de dollars la première année. Le contrat fournira des services sans fil et des appareils compatibles à plus de 60 000 lignes de service, avec un potentiel d'expansion de la bande large mobile dans les bureaux de terrain de l'USDA. Ce partenariat vise à améliorer les capacités de connectivité de l'USDA à l'échelle nationale, soutenant sa mission dans l'agriculture moderne et le développement rural grâce à une meilleure gestion des données, à des opérations rationalisées et à des capacités décisionnelles améliorées.

Verizon Business hat einen neuen 5-Jahres-Vertrag mit dem US-Landwirtschaftsministerium (USDA) in Höhe von 21 Millionen Dollar im ersten Jahr gesichert. Der Vertrag sieht die Bereitstellung von drahtlosen Dienstleistungen und dienstfähigen Geräten für über 60.000 Dienstleitungen vor, mit der Möglichkeit einer Erweiterung des mobilen Breitbands in den USDA-Feldbüros. Die Partnerschaft zielt darauf ab, die Konnektivitätsfähigkeit des USDA landesweit zu verbessern, um seine Mission in der modernen Landwirtschaft und ländlichen Entwicklung durch verbesserte Datenverwaltung, optimierte Abläufe und verbesserte Entscheidungsfähigkeiten zu unterstützen.

Positive
  • Secured new 5-year government contract worth $21M in first year
  • Large-scale deployment covering 60,000 lines of service
  • Potential for additional revenue through mobile broadband expansion
Negative
  • None.

Insights

The $21 million first-year USDA contract represents a strategic win for Verizon's federal business segment. While modest relative to Verizon's $134 billion annual revenue, this contract has significant growth potential through mobile broadband expansion and device services for 60,000+ lines. The 5-year duration provides stable, predictable government revenue and positions Verizon to capture additional federal telecommunications contracts.

The timing is particularly favorable as federal agencies accelerate digital transformation initiatives. This contract strengthens Verizon's foothold in the lucrative federal market while demonstrating the company's ability to meet rigorous government security and service requirements. The USDA's selection of Verizon over competitors validates the company's enterprise solutions capabilities and network reliability.

This contract highlights Verizon's strategic focus on expanding its enterprise and government services portfolio beyond traditional consumer wireless. The deal's structure, incorporating wireless services, devices and potential mobile broadband expansion, showcases Verizon's ability to deliver comprehensive enterprise solutions. The 60,000+ service lines represent a significant enterprise deployment that will generate both recurring service revenue and hardware sales.

The contract's emphasis on supporting field operations aligns with Verizon's network advantages in rural coverage - a critical differentiator for agricultural applications. This positions Verizon to capture additional agricultural technology opportunities as the sector increasingly adopts connected solutions for precision farming and resource management.

Award funded at $21 million in the first year

WASHINGTON, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Verizon Business has been awarded a new agreement with the United States Department of Agriculture (USDA), valued at over $21 million in the first year.

The agreement will enable the USDA to enhance its connectivity capabilities across the nation, supporting over 60,000 lines of service. Verizon will deliver wireless services and service enabled devices. The contract also creates the potential for mobile broadband (MBB) for connected laptops across the agency’s numerous field offices. USDA’s partnership with Verizon Business will help to ensure that the USDA can operate with cutting-edge technology wherever its mission takes it.

The USDA's mission is more critical than ever as it leverages technology to meet the demands of modern agriculture and rural development. By integrating advanced connectivity solutions, the USDA is better equipped to manage vast amounts of data, streamline operations, and make informed decisions that impact food security, agricultural productivity, and rural communities. This partnership underscores the USDA’s commitment to harnessing technology to drive efficiencies and improve service delivery across the nation, from enhancing precision agriculture practices to ensuring timely disaster response and resource management.

“We’re proud to partner with the USDA to deliver advanced connectivity solutions that will enhance their operations and drive innovation across the agency,” said Michael Adams, vice president for federal civilian services at Verizon. “This contract not only reflects the USDA’s trust in Verizon’s capabilities but also highlights our shared commitment to leveraging technology in ways that directly support the agency’s critical mission.”

Verizon Business is a leading provider of communications services to the U.S. federal government and one of the largest providers of advanced communications and information technology services globally.

Click here for more information on Verizon Public Sector solutions.

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) new USDA contract in 2024?

Verizon's new contract with the USDA is valued at $21 million in the first year.

How many service lines will Verizon (VZ) support in the USDA contract?

Verizon will support over 60,000 lines of service for the USDA.

What services will Verizon (VZ) provide to USDA under the new contract?

Verizon will provide wireless services, service-enabled devices, and potential mobile broadband for connected laptops across USDA field offices.

What is the duration of Verizon's (VZ) new USDA contract?

The new agreement between Verizon and USDA is a 5-year contract.

Verizon Communications

NYSE:VZ

VZ Rankings

VZ Latest News

VZ Stock Data

168.34B
4.21B
0.04%
65.55%
1.27%
Telecom Services
Telephone Communications (no Radiotelephone)
Link
United States of America
NEW YORK