Verizon awarded Networx contract extensions from US GSA

US General Services Administration (GSA) has awarded extensions to Verizon (NYSE: VZ) (NASDAQ: VZ) for contracts held by the company under the agency´s Networx program, the company said.

Contract extensions are expected to provide federal agencies with the ability to continue procuring network and communications services from Verizon while the government transitions to a new, comprehensive solution-based contract, Enterprise Infrastructure Solutions, or EIS.

The Networx contract extensions feature a one-year base period and two one-year options. The program offers a portfolio of integrated communications and network solutions.

Verizon is a provider of communications services to the US federal government. Verizon Communications Inc. generated approximately USD132 billion in 2015 revenues with 112.6 million retail connections nationwide.