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BigBear.ai Stock Soars 42% After Winning FAA $2.4 Billion IT Award

BigBear.ai on Tuesday announced that it has received an award as a subcontractor to Concept Solutions . BBAI +36.84% after hours to $1.82. CS is one of fourteen companies awarded a Federal Aviation Administration Information Technology Innovative Procurement Strategic Sourcing contract supporting the Office of Information Technology. This multiple-award contract, with a $2.4 billion shared ceiling over ten years, will enable the FAA to acquire a full range of IT capabilities, solutions, and emerging technologies, the company said. The ITIPSS contract is essential for procuring non-National Airspace System IT services, supporting various functions such as IT resource management, financial management, and security. Source: Press Release

BigBear.ai Stock Soars 42% After Winning FAA $2.4 Billion IT Award

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BBAI +36.84% after hours to $1.82. CS is one of fourteen companies awarded a Federal Aviation Administration  Information Technology Innovative Procurement Strategic Sourcing  contract supporting the Office of Information Technology.  This multiple-award contract, with a $2.4 billion shared ceiling over ten years, will enable the FAA to acquire a full range of IT capabilities, solutions, and emerging technologies, the company said. The ITIPSS contract is essential for procuring non-National Airspace System  IT services, supporting various functions such as IT resource management, financial management, and security. 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