Kratos Bags $1.45 Bln OTA Contract, Pre-Market Stock Up

(RTTNews) - Kratos Defense & Security Solutions, Inc. (KTOS), a technology company focused on defense, national security, and global markets, announced on Monday that it has bagged a five-year an Other Transaction Authority or OTA contract for the multi-service advanced capability hypersonic test bed or MACH-TB 2.0 under Task Area 1.

The total value of the award, if all options are exercised over the five-year period, is $1.45 billion.

MACH-TB 2.0 will provide an affordable bridge between hypersonic ground tests and system level flight tests. This will reduce overall hypersonic development risks and time and provide rapid transition of innovative hypersonic technologies to the war-fighter.

KTOS was down by 8.81 percent at $29.90 in the pre-market trade on the Nasdaq.