Kratos Awarded SeaPort Next Generation Multiple-Award IDIQ Prime Contract $5 Billion in Total Procurement Opportunities Over Ten Years
SAN DIEGO, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Kratos
Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National
Security Solutions provider, announced today that its Defense & Rocket
Support Services Division has been awarded a SeaPort Next Generation
(SeaPort NxG) prime contract to provide Engineering and Program Management
support services to the U.S. Navy and Marine Corps.
SeaPort NxG is the Navy’s primary Multiple-Award Indefinite-Delivery/Indefinite-Quantity (IDIQ) contract for soliciting Contractor support services. This SEAPORT-E follow-on contract vehicle has a five-year base and five-year option ordering period, with a potential value of $5 billion per year or $50 billion over the 10 year contract life span for all Seaport NxG awardees, to procure future support services requirements.
Dave Carter, President of the Kratos’ Defense & Rocket Support Services Division, said, "This award provides Kratos the opportunity to respond to future Navy Surface Warfare requirements. Kratos looks forward to providing quality Engineering and Program Management services to the U.S. Navy and Marine Corps.” Kratos is an industry leader in the rapid design, development and fielding of technologically advanced, affordable systems. Kratos, through its Defense & Rocket Support Services Division (KDRSS) is a leading provider of products, solutions, and services supporting ballistic missile defense, hypersonics, Aegis, AMDR, sounding rockets, directed energy and other national security and scientific programs.
About Kratos Defense & Security
Solutions
Kratos Defense & Security Solutions, Inc.
(NASDAQ:KTOS) develops and fields transformative, affordable technology,
platforms and systems for United States National Security related
customers, allies and commercial enterprises. Kratos is changing the way
breakthrough technology for these industries are rapidly brought to market
through proven commercial and venture capital backed approaches, including
proactive research and a streamlined development process. Kratos
specializes in unmanned systems, satellite communications, cyber
security/warfare, microwave electronics, missile defense, hypersonic
systems, training and combat systems. For more information go to www.kratosdefense.com.
Notice Regarding Forward-Looking
Statements
Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
are made on the basis of the current beliefs, expectations and assumptions
of the management of Kratos and are subject to significant risks and
uncertainty. Investors are cautioned not to place undue reliance on any
such forward-looking statements. All such forward-looking statements speak
only as of the date they are made, and Kratos undertakes no obligation to
update or revise these statements, whether as a result of new information,
future events or otherwise. Although Kratos believes that the expectations
reflected in these forward-looking statements are reasonable, these
statements involve many risks and uncertainties that may cause actual
results to differ materially from what may be expressed or implied in these
forward-looking statements. For a further discussion of risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks relating to
the business of Kratos in general, see the risk disclosures in the Annual
Report on Form 10-K of Kratos for the year ended December 31, 2017, and in
subsequent reports on Forms 10-Q and 8-K and other filings made with the
SEC by Kratos.
Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com