General Dynamics Corporation (NYSE: GD) has revealed that its unit General Dynamics Information Technology (GDIT) has received a contract of $695 million. The GSA has granted the US Army Europe (USAREUR) Enterprise Mission Information Technology Services (EMITS) task order to GDIT.
The GDIT has received a task order in the 4th quarter of 2020. The contract has an estimated total value of $695 million over the next five years, involving a transition of three months, a basic duration of one year, and four options for a one-year term.
Shares of General Dynamics Corporation (NYSE: GD) went up 0.51% as it gained +0.79 during the trading session of Tuesday. It has a day low and high range of $153.41 and $155.36, respectively. Shares of GD has changed between the 52-weeks low range of $100.55 and a high range of $190.08. This company has a total market capitalization of $44.22 billion at the time of writing.
As per the contract, GDIT will deliver enterprise information technology, communications & mission command support services to NATO operations, Department of Defense (DoD) organizations, Regionally Aligned Forces (RAF), & USAREUR headquarters in Europe. Before receiving this deal, GDIT was jointly working on a USAREUR G6 Theater Project Command (TMCC) II task order, granted in 2016 to GDIT, along with the US Army in Europe.
Presently, GDIT is endeavoring to continue to support the USAREUR G6 and its increasing need for enhanced theater communications and enhanced interoperability to improve the mission command systems of the Army and Allied. General Dynamic is a firm which provides a wide range of products and hired nearly 100,000 people around the globe.