EDS Gets Navy Pact Worth Up to $9 Billion - TheStreet

Electronic Data Systems

(EDS)

received a contract with a potential value of $9 billion to link hundreds of separate Navy and Marine Corps computer networks into a single, seamless system.

The system would be designed to be less vulnerable to cyberattacks on shore and at sea. The news, announced after Friday's close, pushed shares of EDS up to $47.50 in after-hours trading, after closing at $40.63.

The company beat

IBM

(IBM) - Get Report

and

General Dynamics

(GD) - Get Report

in acquiring what Navy Secretary Richard Danzig called the largest such contract ever awarded by the government. The new system is expected to be fully operational by June 2003.