SAIC Wins Navy Contract Worth $459M

A subsidiary of SAIC, an engineering and technical services provider for the military, received a Navy contract worth more than $459 million over 10 years, if all options are exercised, to supply command and communication systems. The contract is a cost-plus-fee type, meaning the company is guaranteed to recover all of its costs plus a fixed profit built on top of the deal. It has one base year and nine option years.