DRS Wins $134M For Thermal Sight Tech, Security Services

DRS Technologies has won two indefinite-delivery/indefinite-quantity contracts worth up to¬†$134 million, according to an announcement from Finmeccanica, DRS’ Italy-based parent company.

DRS received a potential $40 million contract from the U.S. Defense Department to manufacture spot on target long-range day and night thermal sight equipment for the military.

The company also received a potential $94 million contract to provide the Navy‘s Space and Naval Warfare Systems Command command with electronic security services.

DRS is restructuring into three operating groups and plans to enter a proxy agreement with the Defense Security Service, allowing DRS and its subsidiaries to compete for classified contracts.

The agreement would also allow the company to access classified information as a unified entity.

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