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.
Source: Kratos Defense & Security Solutions, Inc.