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Investing.com — Verizon Communications Inc (NYSE:VZ) said Wednesday that it signed on new business worth $966.5 million with the Department of Defense.
Verizon shares are down 0.9% Wednesday.
Verizon will provide network modernization services and technical support services to the Pentagon, the DOD National Capital Region and Fort Belvoir.
The order is split into various parts, with the Pentagon task order valued at $515.3 million. Verizon will work with the DOD to transition the Pentagon military and general population from copper-based telephony to advanced internet protocol-based services as part of this order.
The second $432.9 million project has Verizon will delivering voice, transport, internet, and professional services.
Finally, an $18.3 million task order is for the delivery of communications technology infrastructure.
