WhiteHawk secures 2nd US federal government cybersecurity contract win this week
WhiteHawk Limited (ASX:WHK) has today confirmed its third US federal government contract signing in six months and its second win this week, with each contract for a separate federal department.
The cybersecurity exchange provider has been awarded a seven year (one base year with six option years) cyber sub-contractor role on a contract with a US federal government department through the Chief Information Officer (CIO).
Today's announcement follows Wednesday’s news that WhiteHawk has been awarded a five year cyber sub-contractor role under an unnamed, primary contractor on a US federal government department contract worth US$2 billion.
WhiteHawk secured its first US government contract in November, to provide sensitive risk analytics and mitigation, as well as protections to a breadth of office and mission functions within the Department of Defense, Homeland Security and Intelligence Community of the US government.
This most recent contract won by the Prime is valued at US$28 million. The contract is to provide technical and management oversight to performance, mission responsiveness, risk management, and supply/procurement management functional areas across all of the CIO’s IT contracts.
As the sub-contractor, WhiteHawk will provide expert support for cyber risk management, executive technical services (architecture and engineering), and project management, as well as its Cyber Risk Management Framework capabilities. They will deliver sensitive risk analytics and mitigation, providing necessary protections to a breadth of office and mission functions.
The WhiteHawk sub-contract is expected to deliver the company revenues of US$150,000 to US$300,000 (~A$214K-A$428K) each year. Additionally, optional future expansions by the US government may increase the scope of WhiteHawk’s services.
Whitehawk hasn’t named the primary contractor (prime), but described it as a Reston, Virginia headquartered company with over 23,000 employees, that provides technology integration services including high-end solutions in systems engineering and integration, enterprise IT, cyber, software, advanced analytics and simulation, and training to US defense, federal civilian, intelligence community, and space agencies.
WhiteHawk will commence work this month, with formal announcements specifying the governmental department and prime contractor forthcoming, pending approval from WhiteHawk’s customer.
Terry Roberts, Executive Chair of WhiteHawk, commented, “We are looking forward to being a part of a forward leaning team of innovators to refine and take to the next level an important U.S. Government CIO resilience strategy and architecture.”
Roberts added "These US Federal Government contract wins highlight the capability of the WhiteHawk team to have further impact across the cyber risk landscape of the U.S. Financial, Insurance, Defense Industrial Base and Utility sectors as well as our sales channels through EZShield, leveraging our CyberPath online decision engine based market place for cyber security software and service solutions”.
Sub-contractor on a 5-year US$2B US federal government contract
Today’s announcement follows confirmation from WhiteHawk on Wednesday (May 1) that it has been awarded a five year cyber sub-contractor role under the primary contractor on another newly awarded US federal government department contract worth US$2 billion.
WhiteHawk will provide an enterprise-wide cyber risk management framework, cyber intelligence and innovation introduction and transition, as well as tailored cyber subject matter expertise as part of the primary contractor’s team — a leading global professional services company.
WhiteHawk’s contract is for five years (one year with four option years). First year revenue to WhiteHawk is expected to be between US$300,000 to US$600,000, and subject to final scoping by the Prime and customer, revenue is expected to grow to between US$1 million to US$3 million per year in subsequent option years.
Department of Defense, Homeland Security & Intelligence Community contract
WhiteHawk sealed its first US federal government contract win back in November. Under that contract, WHK will provide sensitive risk analytics and mitigation, as well as protections to a breadth of office and mission functions within the Department of Defense, Homeland Security and Intelligence Community of the US Government.
The contract is being carried out in two phases — the first is valued at below US$100,000 (A$138,000) and involves minimal engagement.
From there it will ramp up, with the Phase 2 expanding the scope of the risk framework within the US government software infrastructure to have all vendors monitored and serviced by WhiteHawk’s Cybersecurity Exchange.
This will enable WHK to derive additional revenues from the sale of other vendors’ products purchased across its CyberSecurity Exchange.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.