V2X has secured a cost-plus-fixed-fee, undefinitized contract action from the U.S. Air Force to support the Iraq F-16 program. The $118 million award was a sole source acquisition and includes foreign military sales to Iraq, the Department of Defense said Wednesday. Details of V2X’s Contract to Support Air Force in Iraq The company ...
Chuck Shy, formerly an executive at Vectrus, has started a new role as vice president for the land maintenance, repair and overhaul business at V2X (NYSE: VVX). Shy previously led Vectrus’ work with U.S. Central Command under the Logistics Civil Augmentation Program V contract for more than three years. Before that, he oversaw the company̵...
A joint venture between the Greenlandic unit of Vectrus and construction company Permagreen has won a potential 12-year, $3.95 billion contract from the U.S. Air Force to operate and maintain the Thule Air Base in Greenland. Detachment 1 of USAF’s 21st Contracting Squadron in Copenhagen, Denmark, received four proposals for the indefinite-deli...
V2X (NYSE: VVX) reported $958.2 million in revenue during the third quarter of 2022 and saw its pro forma revenue climb 10 percent year-over-year to $961.3 million. The company said Tuesday the quarterly results reflect the contributions of Vectrus between July 1 and end of September and Vertex from July 5 to Sept. 30. On...
The rise of electronic warfare, or EW, has fueled an increase in demand for electromagnetic spectrum operations and capabilities across the GovCon landscape. This heightened demand is manifesting in increased interest and investments in 5G-enabled technologies, smart facilities, Internet of Things and more as spectrum sharing becomes more prevalent ...
V2X (NYSE: VVX) reported $498 million in sales for the second quarter of 2022, up 6 percent from the prior-year period, and said the quarterly results for the period ended July 1 reflect contributions of Vectrus prior to the completion of its merger with The Vertex Company. In early July, Vectrus closed its all-stock merger...
Vectrus has closed its all-stock merger with The Vertex Company to form a new government services provider that will be known as V2X and has an estimated pro forma annual revenue of $3.4 billion. Both companies announced the transaction March 7, saying the combination looks to grow across the GovCon market areas of operations and...
Shareholders at Vectrus (NYSE: VEC) approved Wednesday the company’s proposed combination with Vertex and both parties expect the transaction to close in the third quarter of 2022. The combined entity will adopt the name V2X and trade on the New York Stock Exchange under the ticker symbol “VVX” upon the deal’s closing, Vertex said Wednes...
Independent proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services recommended in their respective reports that shareholders of Vectrus (NYSE: VEC) vote in favor of all proposals related to the planned combination with Vertex during a special meeting to be held on June 15. Chuck Prow, CEO of Vectrus and an eight-time Wash1...
Chuck Prow, CEO of Vectrus (NYSE: VEC) and an eight-time Wash100 winner, attributed the 5.2 percent year-over-year growth in the company’s fiscal 2022 first-quarter revenue partly to its continued phase-in work under the U.S. Army’s Logistics Civilian Augmentation Program V. The Colorado Springs-based government services contractor said ...
