V2X (VVX) said Monday it has been awarded a position on the US Navy's Worldwide Expeditionary Multiple Award Contract 2.0, a vehicle for delivering global logistics capabilities.
The contract streamlines procurement and uses technology to enhance logistical support for joint forces and federal agencies worldwide, the company said.
The contract has an initial five-year term with a $1.2 billion ceiling value, with an option to extend up to 10 years for a total of $2.4 billion, it said.
Shares of the company were up over 2% in recent trading.
Price: 50.21, Change: +1.22, Percent Change: +2.49
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