Kratos Defense Shares Spike After $8B Navy Contract Win

Law360, New York (February 3, 2014, 2:12 PM EST) -- California-based Kratos Defense & Security Solutions Inc.’s stock shot up to a two-year high after it announced Monday morning that it won an $8 billion five-year contract to provide engineering and technical support services under the U.S. Navy’s SeaPort-e contracting initiative.

Kratos announced that its Defense and Rocket Support Services division was awarded a five-year SeaPort-e IDIQ multiple award contract from the Naval Surface Warfare Center, Dahlgren Division. The contract, which covers all of the initiative’s seven geographical zones, has a maximum value of $7.92 billion,...
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