CACI International Inc ( NYSE:CACI) announced today that it has been selected as a prime contractor to modernize the Information Technology (IT) infrastructure of the Pension Benefit Guaranty Corporation (PBGC) on the IT Infrastructure Operations Services and Support (ITIOSS) contract. This five-year (one base plus four options) indefinite delivery/indefinite quantity (IDIQ) contract, which has a ceiling of $140 million, represents new work with a federal client and expands CACI’s presence in its Enterprise IT market.
PBGC is a federal agency that protects the retirement incomes of more than 44 million American workers in more than 27,500 private-sector defined benefit pension plans. On the ITIOSS contract, CACI may be awarded task orders where it may have the opportunity to upgrade, consolidate, and simplify PBGC’s IT infrastructure to align it with the organization’s business and mission requirements. This transformation will improve performance, reduce costs, increase transparency of costs and service levels, and address security deficiencies.
CACI intends to leverage its history of success in using Information Technology Infrastructure Library (ITIL®) best practices for IT service management to implement IT transformations across federal civilian agencies.
According to John Mengucci, CACI Chief Operating Officer and President of U.S. Operations, “CACI’s innovative transformation approach and use of best practices makes us an ideal candidate to deliver success on the IT Infrastructure Operations Services and Support contract. Our proven, high-value IT solutions will assist the Pension Benefit Guaranty Corporation in safeguarding the pension plans of millions of Americans.”CACI President and Chief Executive Officer Kenneth Asbury said, “This award from the Pension Benefit Guaranty Corporation demonstrates the continuing success of CACI’s strategy to secure positions on the large contract vehicles the government increasingly relies on to procure solutions and services. This is a new client for us with solid future business potential, and we welcome the opportunity to expand our support in the federal civilian space while strategically advancing our presence in the Enterprise IT market.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts