Calian Group’s shares edged up slightly Wednesday as the Kanata-based firm announced a new deal worth up to $90 million with General Dynamics Missions Systems-Canada – the company’s second major contract win in the past week.
The six-year agreement will see Calian provide IT and technical development services for General Dynamics’ communications and surveillance systems that serve the Canadian Army. It replaces a five-year contract between the companies for similar services that expires this year.
“We are excited to continue our partnership with GDMS-C in support of the Canadian Army,” Calian CEO Kevin Ford said in a statement. “Calian continues to invest in leading-edge technologies and expertise that will support these critical systems when they cannot afford to fail.”
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The new contract signing comes less than a week after Calian landed a deal with the Canadian Armed Forces to develop medical training programs. The agreement is worth $17 million over three years, with an option to extend it for an additional year that could push its total value to $23 million.
“This contract signifies a milestone achievement, combining Calian’s long-standing expertise in both military training and health-care services to fulfill critical training needs,” Ford said. “Our ability to integrate these domains seamlessly has been instrumental in securing this opportunity with the Canadian Armed Forces.”
Calian shares were up three cents to $54.99 early Wednesday afternoon on the Toronto Stock Exchange.
The Kanata firm, which has four divisions that specialize in IT, health-care, training and advanced technology, reported revenues of $179.1 million in the first quarter of fiscal 2024, up from $147.5 million a year earlier.
