ASHBURN, Va., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Telos Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced that it was awarded a $12.5 billion ceiling, multiple award, indefinite-delivery/indefinite-quantity (IDIQ) contract for base infrastructure modernization.

This contract, named the Base Infrastructure Modernization (BIM) contract, seeks solutions that modernize, operate and maintain the network infrastructure on all Department of the Air Force (DAF) locations, including Guard and Reserve bases. The work on this contract will be performed globally and is expected to be completed by August 15, 2034. Task orders with a multi-year period of performance will be awarded even in the last year of the IDIQ, allowing awarded work to continue past 2034.

This contract was a competitive acquisition from the Air Force Life Cycle Management Center, Cyber and Networks Contracting Organization based in Hanscom Air Force Base, Massachusetts. Forty-seven offers were received, with 23 companies awarded prime positions.

In addition to BIM, since 2023, Telos has won positions on the following federal government contract vehicles, which when combined with BIM provide market access to compete for new business opportunities that, in the aggregate, represent a $24.5 billion addressable market:

• Defense Manpower Data Center (DMDC) Defense Enterprise HR Applications and Data Services (DEHRADS)
• United States Army EUROPE Infrastructure Modernization Capabilities Set (Army IMOD CAPSET)
• United States Marine Corps (USMC) Infrastructure Services, Transport and Communications (ISTC) Base Area Network (BAN)
• Federal Bureau of Investigations (FBI) Information Technology Supplies and Support Services (IT-SSS) 2nd Generation

For a complete list of Telos’ contract vehicles, please visit www.telos.com/contracts.

About Telos Corporation
Telos Corporation (NASDAQ: TLS) empowers and protects the world’s most security-conscious organizations with solutions for continuous security assurance of individuals, systems, and information. Telos’ offerings include cybersecurity solutions for IT risk management and information security; cloud security solutions to protect cloud-based assets and enable continuous compliance with industry and government security standards; and enterprise security solutions for identity and access management, secure mobility, organizational messaging, and network management and defense. The company serves commercial enterprises, regulated industries and government customers around the world. 

Forward-Looking Statements
This press release contains forward-looking statements which are made under the safe harbor provisions of the federal securities laws. These statements are based on the Company’s management’s current beliefs, expectations and assumptions about future events, conditions and results and on information currently available to them. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company believes that these risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in the Company’s filings and reports with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2023, as well as future filings and reports by the Company, copies of which are available at https://investors.telos.com and on the SEC’s website at www.sec.gov.

Although the Company bases these forward-looking statements on assumptions that its management believes are reasonable when made, the Company cautions the reader that forward-looking statements are not guarantees of future performance and that the Company’s actual results of operations, financial condition and liquidity, and industry developments, may differ materially from statements made in or suggested by the forward-looking statements contained in this release. Given these risks, uncertainties and other factors, many of which are beyond its control, the Company cautions the reader not to place undue reliance on these forward-looking statements. Any forward-looking statement speaks only as of the date of such statement and, except as required by law, the Company undertakes no obligation to update any forward-looking statement publicly, or to revise any forward-looking statement to reflect events or developments occurring after the date of the statement, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data.

Media: media@telos.com
Investors: InvestorRelations@telos.com

Source: Telos Corporation