(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT) said it received a contract worth $59.4 million from the U.S. Department of Labor (DOL) to increase energy efficiency through data center consolidation of the DOL's key data centers.
Under the seven-year, indefinite delivery/indefinite quantity contract, DOL data centers will be moved to a secure data center and ultimately to the cloud to further increase efficiency and meet the Federal Data Center Consolidation Initiative.
The corporation has proven experience in designing and executing energy efficient information technology (IT) services and solutions, as well as managing the consolidation and relocation of data centers and major IT programs for customers.
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The customers include DOL, the U.S. Department of Energy, Federal Aviation Administration, U.S. Department of Defense and Lockheed Martin's own IT enterprise. Lockheed Martin consolidated and moved a DOL data center previously and has been supporting their IT needs for more than eight years.
"Lockheed Martin has a record of implementing data center consolidation for the Department of Labor, and we are excited to extend our services across the agency. We understand that data center consolidation, cloud and other green information technology practices can help our customers save energy and get more out of their budgets," said Frank Armijo, vice president of Lockheed Martin Energy Solutions.
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Lockheed Martin Energy Solutions also provides comprehensive services to utility and commercial customers. The corporation has contracts with eight of the top 10 largest utilities in the United States to run energy efficiency programs and provide smart grid and cyber security solutions.
LMT is trading down 0.89 percent at $90.34 on Thursday. The stock has been trading between $72.37 and $95.92 for the past 52 weeks.