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Benzinga

Politics

Anusuya Lahiri

Palantir Wins $13M Contract From Longtime Partner UK Defense Ministry

Palantir UK (Organization) ministry of Defense PLTR Alex Karp Peter Thiel United States NYSE Palantir Technologies Inc Royal Navy

Palantir Technologies Inc (NYSE:PLTR) bagged a £10 million ($12.5 million) 12-month contract with the U.K. Ministry of Defense, Bloomberg reports.
Palantir will support U.K. Defense Ministry's Foundry platform, which lets users cut costs by automating work and reducing data-processing time.
Co-founded by billionaire Peter Thiel and Alex Karp, the data analytics company initially focused on selling software to U.S. government agencies and allies.
The latest contract, awarded in March, is among several previous agreements with the MoD, including data integration services and an analytics deal with the Royal Navy.
Palantir has been a partner to the Ministry of Defense for over a decade.
Price Action: PLTR shares traded lower by 5.19% at $9.60 on the last check Friday.

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