New West Technologies, a wholly owned subsidiary of Cybergy Holdings Inc (OTCMKTS:CYBG) has won a Multiple Award IDIQ contract worth $500 million. The tenure of the contract is 10-years, which means that the contract money will be payable gradually over these years. As per the reports, New West Technology has got this contract from U.S. Department of Health and Human Services.
Insights On Matter:
There were a lot of major names in the race to win this contract, New West and Circuit Media won this multipurpose analytical, technical and support service contract with U.S. Department of Health and Human Services. As per the reports, Circuit Media is the teaming partner of the New West Technologies for the contract procedure.
Services Covered Under This Contract:
Cybergy owned New West has agreed to provide a few services under this contract. For example:
- Program and policy assessment
- Performance Measurement
- Data Collection, Interpretation and Analysis
- Auxiliary Services
In order to take New West’s offerings to a new height, Cybergy has decided to include SmartFile technology into the other offerings of its subsidiary. It’s the first time when New West will be offering SmartFile technology to any of its clients. According to Steve Hauser, President, New West Technologies, this contract is the continuation of New West’s previous work relations with HHS. It will not only allow the company to demonstrate its capabilities, but also help it strengthen its relations with the Department of Health and Human Services.
It’s a multi-million dollar opportunity for the company, which will prove to be beneficial for Cybergy family to grow at a stiff rate in the years to come. The IDIQ or Indefinite-Delivery, Indefinite-Quantity contract has been designed to help HHS in enhancing its analytical and technical knowledge. As per the reports, it has a 5-year base period in which the performance of the company will be measured. If the performance is good, then it can be extended to another five years.