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Verizon secures contracts worth nearly $1 billion from U.S. defense department -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This sign can be seen at Verizon’s Manhattan store, New York City (USA), November 22, 2021. REUTERS/Andrew Kelly

(Reuters). Telecoms giant Verizon Communications Inc (NYSE: ) announced Wednesday that it has secured nearly $1 billion in new business from the U.S. Department of Defense for technical support and network modernization.

This deal covers contracts for the Pentagon, Fort Belvoir and the National Capital Region (NYSE:), with a total value of $966.5 Million.

Verizon will provide internet-protocol-based services, voice and video services and network-related support aimed at accelerating the department’s digital pivot.

It also stated that it could help design, plan and implement network improvements and supply new equipment to Pentagon.

Verizon’s shares rose 0.5% in premarket trade

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