Perspecta Labs awarded $37 million DARPA contract to improve network card speed

Chantilly, Va.— July 14, 2020--Perspecta Inc. (NYSE: PRSP), announced today that its innovative applied research arm, Perspecta Labs, received a prime contract award on the Defense Advanced Research Projects Agency (DARPA) Fast Network Interface Cards (FastNICs) program. The award, which represents new work for the company, has a total potential ceiling value of $37 million and a four-year period of performance if all options are exercised.

The objective of the FastNICs program is to speed up complex computing applications, such as the distributed training of machine learning classifiers and video analysis applications, by 100x through the development, implementation, integration and validation of innovative networking approaches. On the program, Perspecta Labs will research, design, develop and demonstrate new network interface hardware that operates at a 10-terabit-per-second speed (Tbps), and the associated system and programming software to manage and utilize the new hardware.

“Perspecta Labs will leverage its expertise in networking, systems and distributed computing to provide an innovative, secure solution to the FastNICs challenge,” said Petros Mouchtaris, Ph.D., president of Perspecta Labs. “We are looking forward to working closely with our DARPA customer to deliver hundredfold improvements for demanding mission critical applications.”

To support rapid technology transition and industry adoption, Perspecta Labs’ 10Tbps network interface hardware will use industry-standard interface points. The company will also design and implement novel software including resource managers, application programming interfaces and programming tools that allow applications to harness the hundredfold improvements enabled by its new FastNICs hardware.

About Perspecta Inc.
At Perspecta (NYSE: PRSP), we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 280+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. With offerings in mission services, digital transformation and enterprise operations, our team of 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation.  For more information about Perspecta, visit perspecta.com.

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This press release may contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Perspecta and are subject to significant risks and uncertainty. Readers are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Perspecta undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Perspecta believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve a variety of risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements.

Contacts:
Lorraine M. Corcoran
Vice President, Corporate Communications
571.313.6054 office
301.529.9429 mobile
lorraine.corcoran@perspecta.com
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Michael Pici
Vice President, Investor Relations
571.612.7065 office
michael.pici@perspecta.com