Verizon secures U.S. Department of Defense contract extension

Verizon (NYSE:VZ), on Monday, announced a 24-month task order extension for its Global Network Solutions contract with the U.S. Department of Defense.
With this extension, the total revenue for the GNS contract, originally awarded in 2016, will now amount to over $98 million.
The purpose of the extension is to create a point-to-point connection within Southwest Asia that provides critical network communications capabilities for the U.S. government.
The multiple-award GNS contract is scheduled to be recompeted and awarded by 2026.