Verizon Secures $4M Federal Contract, Touts New Security Infrastructure

Verizon Communications Inc (NYSE:VZ) inked a new Enterprise Infrastructure Solutions (EIS) deal with the National Labor Relations Board (NLRB), an independent federal agency that focuses on the rights of private sector employees.

Under the $4 million contract, Verizon will reconfigure and upgrade NLRB’s Software-Defined Wide Area Network (SD-WAN) at all 48 branch offices, including its headquarters.

Additionally, Verizon’s solution includes new distributed security infrastructure and cloud hosting services.

“The NLRB win reaffirms Verizon’s market position as the premier provider of EIS services to federal agencies,” said Michael Adams, Associate Vice President, Federal Civilian Business at Verizon.

A software-defined wide area network helps these organizations in quality and cost control.

In July, Verizon reported second-quarter sales of $32.8 billion, which was below the consensus estimate of $33.1 billion. Verizon Consumer revenue was $24.9 billion and Verizon Business revenues stood at $7.3 billion.

Verizon Communications stock gained over 21% in the last 12 months. Investors can gain exposure to the stock through Schwab US Dividend Equity ETF (NYSE:SCHD) and SPDR S&P 500 (NYSE:SPY).

Price action: VZ shares traded higher by 0.17% at $40.82 premarket at the last check Monday.

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