ATSP5 award enables Leonardo DRS to provide advanced engineering to accelerate next-generation electronic systems for the U.S. military.

Company Website: https://leonardodrs.com
ARLINGTON, Va. -- (Business Wire)

Leonardo DRS, Inc. (Nasdaq: DRS) announced today that it has been awarded an engineering solutions contract for the Advanced Technology Support Program V (ATSP5) to support the U.S. military in rapidly fielding emerging technologies. The indefinite-delivery, indefinite-quantity, multiple award contract has a total potential value of more than $25 billion over ten years.

Leonardo DRS is one of thirteen companies awarded this contract, which positions the Company to offer its cutting-edge technologies and advanced engineering expertise to the development of next-generation electronic systems.

“As a company built around rapid delivery of trusted advanced technologies, we are excited and proud to be one of the few awardees of this contract. This is an important contract vehicle that will provide another avenue for customers to swiftly access DRS’s advanced technologies and engineering solutions. We look forward to delivering innovation and capability to our customers in support of their critical missions,” said John Baylouny, President and CEO of Leonardo DRS.

Under the contract, Leonardo DRS can deliver work in critical areas ranging from advanced sensing and computing to integrated mission systems. The contract also positions Leonardo DRS to help customers advance emerging technologies and capabilities, including research and development in quantum computing and nanoelectronics, three-dimensional and other additive manufacturing methods, and submicron engineering to design circuitry at smaller scales.

This IDIQ contract award positions Leonardo DRS to compete for future task orders throughout the contract’s period of performance.

About Leonardo DRS

Leonardo DRS, Inc. (Nasdaq: DRS) is at the forefront of developing transformative defense technologies using its proven agility and delivering innovative solutions for U.S. national security customers and allies worldwide. We specialize in rapidly providing high-performance, multi-domain capabilities across next-generation advanced sensing, network computing, force protection, and electric power and propulsion. Our reputation as a trusted provider is built on a continuous focus on practical innovation, delivering quality, and meeting our customers’ most demanding mission requirements. For further information on our complete range of capabilities, visit www.LeonardoDRS.com.

Forward-Looking Statements

This communication contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements which include contract values, contract performance and our development and production of products are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statement.

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Contacts:

Leonardo DRS Investor Relations Contact
Steve Vather
Senior Vice President, Corporate Development (M&A) and Investor Relations
+1 703 409 2906
stephen.vather@drs.com

Leonardo DRS Media Contact
Carrie Robinson
Vice President, Marketing and Corporate Communications
+1 321 266 7691
carrie.robinson@drs.com

Source: Leonardo DRS