NV5 Secures Major Geospatial Contract Worth Up to $290 Million
Major Contract Win for NV5 Global, Inc.
NV5 Global, Inc. (NASDAQ: NVEE), a renowned provider of technology, certification, and consulting solutions, has achieved a remarkable milestone by securing a prominent contract with the National Geospatial-Intelligence Agency (NGA). This contract, valued up to $290 million, is designated for providing unclassified commercial geospatial intelligence (GEOINT)-derived services under the innovative Luno A program.
Significance of the Collaboration
The selection of NV5 is a testament to its strong reputation built over two decades in supporting the NGA's intelligence missions. Executive Chairman Dickerson Wright expressed enthusiasm about enhancing the partnership, stating the importance of GEOINT-derived analytics in bolstering national security initiatives. This contract will enable NV5 to integrate cutting-edge technology into analytic workstreams.
Contract Scope and Revenue Potential
This five-year, multiple-award contract represents an indefinite delivery, indefinite quantity format, allowing NV5 the flexibility to monitor a range of critical activities worldwide, including economic, environmental, and military developments. With its advanced commercial computer vision and artificial intelligence capabilities, the company projects to generate approximately $30 million in revenue throughout the contract's duration.
Diverse Service Sectors of NV5
NV5 Global, Inc. operates across multiple sectors, supporting both public and private clients with diverse services. The company excels in utility services, infrastructure engineering, construction quality assurance, environmental health sciences, and geospatial services. With over 100 operational offices, NV5 is positioned to leverage its extensive expertise to meet the demands of the national security sector effectively.
Expanding Geospatial Services
The geospatial services provided under this contract will utilize advanced analytics to transform data into actionable insights. Such insights are invaluable for decision-making processes within the national intelligence community, ensuring better preparedness and response strategies.
The Future of Integrative Technology
The integration of artificial intelligence and computer vision into NV5's workflows reflects the ongoing evolution in technology, enabling more efficient data handling and analysis. As national security challenges become increasingly complex, NV5 is poised to deliver innovative solutions to meet these demands.
Contact Information for Inquiries
For further information or inquiries regarding this contract or NV5's services, interested parties can reach out to Jack Cochran, Vice President of Marketing & Investor Relations, via telephone at +1-954-637-8048 or through email at ir@nv5.com.
Frequently Asked Questions
What is the value of the contract awarded to NV5?
The contract is valued up to $290 million and spans five years.
What services will NV5 provide under this contract?
NV5 will provide unclassified commercial geospatial intelligence (GEOINT)-derived computer vision and analytic services.
Who is the Executive Chairman of NV5?
Dickerson Wright serves as the Executive Chairman of NV5 Global, Inc.
How long has NV5 been supporting the NGA?
NV5 has been supporting the NGA's mission for over 20 years.
What revenue does NV5 anticipate from this contract?
NV5 anticipates generating approximately $30 million in revenue over the term of the Luno A contract.
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