WidePoint Selected by the U.S. Navy for the 10-Year, $2.7 Billion Spiral 4 Contract

Rhea-AI Summary

WidePoint (NYSE American:WYY) has been selected by the U.S. Navy to be part of the 10-year, $2.7 billion Spiral 4 contract. This contract includes providing wireless and telecommunications services to military personnel and federal civilian employees in the U.S. and its territories. WidePoint, along with six other companies, has secured a position on this lucrative contract, which consists of a firm-fixed-price, indefinite-delivery, indefinite-quantity (IDIQ) agreement. The contract has a one-year base period worth around $267 million, with nine additional one-year option periods until May 2034.

Positive

• WidePoint has been selected by the U.S. Navy for a prestigious 10-year, $2.7 billion contract, showcasing the company's capabilities and expertise in providing wireless and telecommunications services.

• The inclusion of WidePoint in the Spiral 4 contract reflects the company's strong position in the market and its commitment to serving the U.S. Federal Government with Managed Mobility Services (MMS).

• The 10-year contract with the U.S. Navy presents a significant revenue opportunity for WidePoint, potentially boosting the company's financial performance over the coming years.

Negative

• None.

WidePoint is Among 7 Companies Selected by the U.S. Navy to Provide Wireless and Telecommunications Services.

FAIRFAX, VA / ACCESSWIRE / May 8, 2024 / WidePoint Corporation (NYSE American:WYY), the innovative enterprise security and mobile technology provider, announced that the U.S. Navy has included the company in the fourth iteration of the Wireless and Telecommunications Services vehicle ("Spiral 4").

WidePoint, along with six other companies including the U.S. "Big Three" wireless carriers, was awarded a position on a 10-year, $2.7 billion Spiral 4 contract to provide a full range of wireless and telecommunication services to military personnel and federal civilian employees stationed within the country and U.S. territories. The Naval Supply Systems Command Fleet Logistics Center San Diego launched a full-and-open competition in late January for the indefinite-delivery, indefinite-quantity (IDIQ) contract, which includes hardware, software, firmware and related IT equipment and services. The U.S. Department of Defense announced the firm-fixed-price, IDIQ contract has a one-year base period valued at approximately $267 million and nine one-year option periods that would run through May 2034 if all options are exercised.

Jin Kang, WidePoint's CEO, stated: "WidePoint is honored to be included in this award group. As an agnostic provider of Managed Mobility Services (MMS) to the U.S. Federal Government, WidePoint is uniquely poised to deliver on this new IDIQ contract. We look forward to each opportunity to provide wireless and telecommunications services to U.S. Navy personnel and civilian team members. Additionally, we remain focused on continuing to execute our sales and marketing strategy in what is shaping to be a very strong year for our organization."

About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM, Mobility Managed Services (MMS, Telecom Management, Information Technology as a Service (ITaaS, Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.

WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WYY@gatewayir.com

SOURCE: WidePoint Corporation

View the original press release on accesswire.com