Benzinga | Nov 3, 2021 09:16AM EDT

PAR Government Systems Corporation, A Wholly-owned Subsidiary Of PAR Technology, Announced That It Has Been Awarded A $490.4M Ceiling, Single Award, Indefinite-delivery/Indefinite-quantity Contract

PAR Government Systems Corporation (PGSC), a wholly-owned subsidiary of PAR Technology Corporation (NYSE:PAR), today announced that it has been awarded a $490,400,000 ceiling, single award, indefinite-delivery/indefinite-quantity contract with cost-plus-fixed-fee completion and firm-fixed-price type orders for Counter-small Unmanned Aircraft System (C-sUAS) software, hardware, and technical documentation. This is the largest single contract award in PAR's history.

This contract provides for research, designing, prototyping, testing, evaluation, operational evaluation, experimentation, integration, technical installation, transition and support through initial operations of C-sUAS technologies.

Commenting on the award Matt Cicchinelli, President of PAR Government stated, "We are pleased that the Air Force has shown confidence in, and selection of PAR Government to support this important solution development and integration program. PAR Government will utilize our technical in-depth experience and knowledge gained over decades of working with the Department of Defense to accomplish the requirements of this important effort."

Savneet Singh, PAR Technology's CEO stated, "PAR is gratified to have been selected to provide advanced C-sUAS solutions in response to urgent mission needs. We have always prided ourselves on customer satisfaction and understand the critical role we play in supporting our operational customers and their requirements."

Contract work will be performed in Rome, New York, and is expected to be a 6-year ordering period with a maximum of a 2-year Order Period of Performance beyond the ordering period.

This award is the result of a competitive acquisition. Fiscal 2021 research and development funds in the amount of $5,700,000 are being obligated at the time of award. Air Force Research Laboratory, Rome, New York, is the contracting activity (FA8750-21-D-1100).