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Palantir Technologies (NYSE:PLTR) announced today it had been selected by the United States Special Operations Command (USSOCOM) to continue its work as their enterprise data management and AI-enabled mission command platform as part of the Mission Command System/Common Operational Picture program. The contract is valued at a total of $111 million, inclusive of options, with $52.5 million executed upon award. The total contract includes a base year and one option year.
Palantir's platform has been used by USSOCOM in real-time mission operations to interoperate with other components of the global situational awareness architecture since 2016. Palantir’s software is designed to aggregate disparate and siloed data sources to enable the best possible data-driven decision-making, making Palantir uniquely suited to provide a platform to support unity of effort and enhance high impact decision-making across warfighting functions.
"When Special Operators are risking their lives in no fail scenarios, they deserve technology that works. Our partnership with USSOCOM was one of our first in the U.S. military, and we are honored to keep providing technology that gets the job done while we partner on the future of what is possible," said Doug Philippone, Palantir’s Global Defense Lead.
Palantir’s technology enables real-time collaboration across USSOCOM and its allies, giving its commanders situational awareness at a global scale, bringing AI to the battlefield, and improving the ability to respond to near-peer threats. Palantir's software is used for the full life cycle of today’s continuous operations; from planning, to review coordination and approval, through to battle tracking of the actual mission execution.
Palantir is proud to have supplied technology to USSOCOM for the past decade.
About Palantir Technologies
Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at https://www.palantir.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract, including any option years, and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210528005069/en/