Computer Sciences Corp. (NYSE: CSC) has received a five-year contract extension worth around $1 billion to expand government system capabilities.
CSC will also collect an upfront $277 payment in addition to the four base year and one option-year award.
The terms extend a contract scheduled to expire in December 2011.
“We are pleased we were able to reach an equitable agreement with the government while preserving our important role in a critical government program, ” said Jim Sheaffer president of CSC’s north america public sector.