Hello, Guest!
  • Saturday, April 20, 2024

Palantir to Extend Army Data Analytics Tech Support Under $116M Contract

Palantir Technologies (NYSE: PLTR) has secured a $116.3 million contract extension from the U.S. Army’s Program Executive Office for Enterprise Information Systems to support an integrated platform for analyzing military data.

The service branch exercised the second option year of a potential $458 million contract awarded in 2019 to power Army Vantage with Palantir-built software that functions as a central operating system, the company said Friday.

The contract has a one-year base period of performance along with three option years.

Palantir noted its software has helped gather and consolidate over 30,000 unique data sets from more than 160 distinct systems since the platform was launched.

“The Army Vantage program is the cornerstone of the Army’s ability to make data driven decisions across the force,” said Doug Philippone, global defense lead at Palantir.

Army leaders have used the platform to oversee weapons accountability, monitor soldier immunization rates against COVID-19 and manage soldiers’ risk behaviors.

Video of the Day

Related Articles

GovCon Index, Major US Indexes Ended With Losses on Weak April Start Financial Reports

GovCon Index, Major US Indexes Ended With Losses on Weak April Start

Executive Mosaic’s GovCon Index rose 0.46% to $4,896.02 Friday as 22 of its constituents advanced. However, the index, which tracks the stock performances of 30 major government contractors, still ended 1.35% lower week-on-week due to the weak start in April. Wall Street’s major indexes closed the week with losses despite bouncing back from their slump.

GovCon Index Posted Weekly and Monthly Gains, Dow Jones & S&P 500 Marked Best 1st Quarters Financial Reports

GovCon Index Posted Weekly and Monthly Gains, Dow Jones & S&P 500 Marked Best 1st Quarters

Executive Mosaic’s GovCon Index closed 0.41% higher to $4,963.08 to end the shortened week and March in the positive zone. The index, which tracks the stock performances of 30 major government contractors, also outperformed Wall Street’s major stock indexes for the week with a 1.69% gain. Despite Thursday’s subdued session, the S&P 500 rose 0.11% to

GovCon Index Snaps 4-Day Win Streak but Marks Another Winning Week Financial Reports

GovCon Index Snaps 4-Day Win Streak but Marks Another Winning Week

Executive Mosaic’s GovCon Index closed lower at $4,938.26 (-0.60%) on Friday, although it had enough buffer to post another winning week (+1.91%). However, all the main indexes on Wall Street had a losing week. The S&P 500 Index and Nasdaq Composite retreated from their all-time highs, while the Dow Jones drifted lower. The index that