Cubic Corp. (CUB) Announces $5.75B IDIQ Contract
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Cubic Global Defense (CGD), a business unit of Cubic Corporation (NYSE: CUB), today announced the award and receipt of Notice-to-Proceed on a $5.75 billion Multiple Award, Indefinite Delivery, Indefinite Quantity (MA-IDIQ) task order contract from the General Services Administration (GSA) in partnership with the U.S. Office of Personnel Management (OPM) for Human Capital and Training Solutions (HCaTS). Under this contract, CGD will have the opportunity to provide customized training and employee development, human capital strategy and organizational performance improvement services across the federal government at all levels. The base MA-IDIQ contract duration is for five years with an additional exercisable five-year option period.
With this contract, the government will have direct access to CGD’s deep organizational planning and transformation; force structuring; modeling and simulation experience; as well as game-based, virtual, immersive and neuroscience-based training and development capabilities. CGD is one of 72 unrestricted contracts awarded under the HCaTS vehicle and 37 that were set aside for small businesses under the HCaTS SB vehicle.
“As part of our NextTraining strategy, Cubic is focused on raising organizational readiness and optimizing human performance in all government settings,” said Chris Bellios, senior vice president of defense and intelligence services for Cubic Global Defense. “We look forward to working with GSA, OPM and various government organizations to expand the impact and accessibility of organizational government performance solutions.”
HCaTS is considered to be the first government-wide human capital solution using category management, an enterprise-wide approach to acquiring goods and services used in private industry and by other government agencies. HCaTS contracts will allow federal agencies to take an efficient and innovative approach to their workforce and training requirements. The GSA will handle administration of the contracts while OPM will manage the programs.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Delta Air Lines (DAL) Load Factor Rose 0.9 Points in November 2016
- Teva Pharma (TEVA) Loses Bid to Revive '413, '250, and Third Capaxone Patent in IPR Review - Bloomberg
- Johnson & Johnson (JNJ) Receives Adverse Decision in Texas Hip Implants Case; Will Pay $1B
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!