S&P500 rises as Nvidia lifts tech, Fed minutes points to more rate cuts ahead
RESTON, Va. - V2X, Inc. (NYSE:VVX), a defense contractor with a market capitalization of $1.79 billion, has been awarded an $84 million task order under the U.S. Navy’s Global Contingency Services Multiple Award Contract III, the company announced Wednesday. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment.
The contract includes a one-year base period with three additional option years and continues V2X’s ongoing support operations at Red Hill, Hawaii, where the company is assisting the U.S. military in establishing safe and reliable water supply systems.
"This award reaffirms our commitment to providing essential services during times of necessity," said Jeremy C. Wensinger, President and Chief Executive Officer at V2X, in a press release statement.
The task order builds on V2X’s existing presence across the Pacific region. The company’s work in Hawaii focuses on delivering contingency support for critical water infrastructure.
V2X employs approximately 16,000 professionals globally and provides services across national security, defense, civilian, and international markets, according to the company.
The defense contractor specializes in solutions that integrate physical and digital environments for mission-critical operations.
In other recent news, V2X, Inc. has completed the acquisition of QinetiQ’s U.S. Intelligence business for approximately $24 million, net of estimated tax benefits. This acquisition expands V2X’s capabilities in data engineering, intelligence mission support, and cyber solutions, adding around 70 professionals to its team. In addition, Truist Securities has reiterated a Buy rating on V2X stock, maintaining a price target of $58 following the acquisition. V2X has also secured a position on the Defense Threat Reduction Agency’s Cooperative Threat Reduction Integrating Contract IV, which has a ceiling value of $3.5 billion over a five-year base period, with five additional option years available. Furthermore, the company is celebrating the 11th anniversary of its Shifting Gears Automotive Technician Training Program, developed in collaboration with General Motors and the U.S. Army, which has trained approximately 1,000 veterans. In leadership changes, V2X has appointed Greg Lundy as Vice President of Technology, where he will lead innovation and technology strategy. Lundy will focus on advancing Independent Research and Development initiatives and will report directly to Chief Growth Officer L. Roger Mason. These developments highlight V2X’s ongoing efforts to expand its capabilities and strengthen its position in the defense and intelligence sectors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.