CSC Signs Defense Pact

Shares of technology-services firm Computer Sciences (CSC Quote) were rising following the company's announcement of a defense contract that could be worth up to $613 million.

The contract gives Computer Sciences responsibility for leading a team of companies in managing computer networks for the Defense Information Systems Agency. The two-year agreement includes three one-year renewal options and would be worth $613 million if all years are exercised.

The news boosted shares of Computer Sciences 1% to $50.07.

The firms working under Computer Sciences include defense heavyweights BAE Systems and CACI (CAI Quote), as well as Telcordia, a Bell Labs spinoff, and several small businesses.

Computer Sciences stepped into position to win the contract by acquiring the company that has been providing the network management support since 1999.