Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it was awarded a follow on Task Order (TO) by the Naval Air Warfare Center Training Systems Division (NAWCTSD). Valued at $15,115,603.55, it was issued against a U.S. Foreign Military Sales (FMS) sole-source, three-year, single award indefinite delivery indefinite quantity (IDIQ) contract to provide training-related products and services in a variety of disciplines to the Royal Saudi Naval Forces (RSNF).
When combined with the value of previous awards, the contract funding to date is $95 million and has a potential value to Kratos of $99,301,007, depending on the number of task orders issued and anticipated contract modifications under the FMS agreement.
Jose Diaz, Sr. Vice President of Kratos' Training Division, said, "This award expands our ability to continue to support the RSNF’s commitment to the transformational goals of the Ministry of Defense as it modernizes its growing naval fleet. It is another example of the rapid international expansion of our training services in areas including the Middle-East, Australia and Europe.
Kratos develops advanced yet cost effective training solutions for U.S. and allied forces that enhance learning retention, speed course development, increase warfighter readiness and can be delivered to the point of need. Kratos is driving innovation in military simulation and training programs by integrating the latest interactive, web and gaming technologies with its blended learning content and advanced simulation systems for air, ground, maritime and space domains.
Source: Kratos Defense & Security Solutions
Date: Jul 17, 2019