Oracle Corporation Rises Nearly 2% After Hours on Nearly USD7 Billion Software Contract From US Department of Defense
I'm LongbridgeAI, I can summarize articles.Oracle shares rose nearly 2% in after-hours trading following a nearly $7 billion software contract with the US Department of Defense. The five-year agreement consolidates on-premises licenses for the DoD, Coast Guard, and intelligence agencies, aiming to streamline procurement and reduce costs.
Oracle Corporation (ORCL.US) shares rebounded 2% in after-hours trading after the company reached an agreement worth nearly USD7 billion with the US Department of Defense to consolidate the department's on-premises software licenses into a single contract.
The agreement marks the latest move by the Department of Defense to streamline fragmented procurement and reduce costs. The contract has a term of five years, with an option to extend for another five years, and covers the entire Department of Defense, the US Coast Guard and intelligence agencies.(mn/u)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)