https://www.bnnbloomberg.ca/peter-thiel-s-palantir-wins-role-in-823-million-government-contract-1.1395687

(Bloomberg) – Palantir Technologies Inc. scored another win in Washington Tuesday, securing a contract worth as much as $823 million to provide software to the Department of Defense, according to communications reviewed by Bloomberg.

The contract is scheduled to be announced Tuesday at 5 p.m. New York time. The four-year deal represents more than a decade of work by the Palo Alto, California-based data mining startup to break into the club of existing defense contractors, and bolsters the company’s prospects as it prepares it to go public.

The contract is the second half of a larger project. Palantir and Raytheon Co. won the first half of the deal in 2018, worth $876 million. This second part involves Palantir working with BAE Systems to replace the U.S. Army’s Distributed Common Ground System, used for aggregating and analyzing data, which has faced technical challenges. Palantir sued the Army in 2016 to win the right to compete for the new contract after the U.S. Government Accountability Office determined the old system was underperforming and over budget.