Benzinga | Sep 14, 2021 03:18PM EDT

NV5 To Provide Services For Geospatial Contract Valued Up To $850M

* NV5 Global Inc (NASDAQ:NVEE) has been selected by U.S. Geological Survey (USGS) for a multiple-award indefinite-delivery contract with a ceiling of $850 million for Geospatial Product and Services Contract (GPSC4).

* The GPSC4 contract has a maximum duration of five years and is the successor to GPSC3. NV5 was awarded $135 million in revenue on the GPSC3 contract over five years.

* Services provided under the GPSC4 contract support various government entities that partner with the USGS for their geospatial data requirements.

* Under the contract, NV5 will provide advanced geospatial data acquisition, processing, and analytics using technologies such as topographic lidar, riverine and coastal topo-bathymetric lidar, multispectral imagery, geophysical surveying, and elevation-derived hydrography.

* Price Action: NVEE shares traded lower by 1.28% at $99.44 on the last check Tuesday.