WhiteHawk lands role on 5-year US$2B US federal government contract
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WhiteHawk Limited (ASX:WHK) today announced it has been awarded a five year cyber sub-contractor role under the primary contractor (prime) on a newly awarded a US$2 billion US federal government department contract.
The prime contractor is an Arlington, Virginia based company whose federal business division has served every cabinet-level department and 30 of the largest federal organizations with clients in defence, intelligence, public safety, civilian and military health organizations.
It is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations, with 469,000 people serving clients in more than 120 countries.
News of the contract was well received by the market, sending WhiteHawk's share price up 30% this morning, rising from 6.4 cents to 8.4 cents.
WhiteHawk's sub-contract length is five years (one year with four option years). First year revenue to WhiteHawk is expected to be between US$300,000 to US$600,000, and subject to final scoping by the Prime and customer, revenue is expected to grow to between US$1 million to US$3 million per year in subsequent option years.
WhiteHawk will provide an enterprise-wide cyber risk management framework, cyber intelligence and innovation introduction and transition, as well as tailored cyber subject matter expertise as part of the prime’s team.
Tasks in the contract will span the government department’s operations nationwide, providing needed added protections to a breadth of office and mission functions.
Additionally, optional future expansions by the US Government may increase the scope of WhiteHawk’s services.
Formal announcements of the specific governmental department and prime contractor is forthcoming, with these details currently pending approval from the customer.
Terry Roberts, Executive Chair of WhiteHawk, commented, “We are honoured to be part of the cutting-edge team that will architect, innovate and further transition a US Federal Government CIO Office to be commercially enabled, using best of breed CIO and Chief Information Security Officer (CISO) solutions and services that are foundational to every Department mission”.
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