StockNews.AI
VZ
StockNews.AI
202 days

U.S. Coast Guard Awards Verizon Business $66 Million Enterprise Infrastructure Solutions Task Order

1. Verizon secured an $66 million contract with the U.S. Coast Guard. 2. Contract spans 8 years, providing critical communication services. 3. Highlights Verizon's strong federal agency relationships and trust in its security. 4. Past contracts include a $2.67 billion deal with the U.S. Navy. 5. Verizon generated $134.8 billion in revenues for 2024.

5m saved
Insight
Article

FAQ

Why Bullish?

Strong federal contracts enhance Verizon’s revenue predictability and growth potential.

How important is it?

Significant federal contracts reinforce Verizon's position in the market, impacting future growth.

Why Long Term?

Long-term contracts solidify revenue streams, similar to past successful defense deals.

Related Companies

VZDODNavy
January 29, 2025 08:30 ET  | Source: Verizon Communications, Inc. WASHINGTON, Jan. 29, 2025 (GLOBE NEWSWIRE) -- The U.S. Coast Guard has awarded Verizon Business an 8-year Enterprise Infrastructure Solutions (EIS) task order worth up to $66 million over the life of the contract. Under this agreement, Verizon will provide Wi-Fi, phone, data, and other services to the U.S. Coast Guard’s C5I (Command, Control, Communication, Computer, Cyber, and Intelligence) office. Verizon will be partnering with the Coast Guard to phase out end-of-life TDM services, implementing solutions like a cellular-based POTS replacement for essential voice communications. This includes offering Contact Center as a Service (CCaaS), delivering secure IL-4 (Impact Level 4) software-based solutions for Coast Guard call centers. “The U.S. Coast Guard task order is yet another example of the strong relationship Verizon enjoys with a number of federal agencies, to include the Department of Homeland Security (DHS), the Department of Defense (DoD), the Department of Veterans Affairs and more” said Michael Adams, associate vice president for federal civilian services at Verizon. “The trust placed in Verizon by the federal government is indicative of the reliability and security of our enterprise solutions.” While the base task order spans 12 months, it may extend up to an eight-year period of performance. Verizon will deliver EIS services, including internet protocol service (IPS), broadband internet service (BIS), internet protocol voice service (IPVS), toll-free service, managed network services, managed security services, contact center services, and related equipment. Verizon has earned the trust of the U.S. Armed Forces through a number of contract wins, including a 10-year, $2.67 billion multiple award contract with the U.S. Navy, a $1 billion DoD engagement to overhaul the Pentagon’s network, and a $78 million digital modernization contract with Naval District Washington. For more information on Verizon’s work across the public sector, visit our website. Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores. VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/. Media Contact:Geoffrey Basye202-748-1882geoffrey.basye@verizon.com

Related News