Palantir Wins $13M Contract From Longtime Partner UK Defense Ministry
- Palantir Technologies Inc (NYSE:PLTR) bagged a £10 million ($12.5 million) 12-month contract with the U.K. Ministry of Defense, Bloomberg reports.
- Palantir will support U.K. Defense Ministry's Foundry platform, which lets users cut costs by automating work and reducing data-processing time.
- Co-founded by billionaire Peter Thiel and Alex Karp, the data analytics company initially focused on selling software to U.S. government agencies and allies.
- The latest contract, awarded in March, is among several previous agreements with the MoD, including data integration services and an analytics deal with the Royal Navy.
- Palantir has been a partner to the Ministry of Defense for over a decade.
- Price Action: PLTR shares traded lower by 5.19% at $9.60 on the last check Friday.