Investing.com — General Dynamics Corporation (NYSE:GD) announced Tuesday that it has been awarded a contract from the National Security Agency.
The NSA contract will see the aerospace and defense company design, develop, test and deliver a certifiable 400 Gbps encryption solution. The General Dynamics solution has two modules designed to provide scalable encryption to protect classified data centers and cloud environments.
In addition, the high-speed solutions are engineered to scale power needs while maintaining performance efficiently.
No financial details were disclosed.
“General Dynamics Mission Systems is known for providing the most widely deployed high assurance encryptors in the world,” said the vice president for the Cyber Systems line of business with General Dynamics Mission Systems, Brian Morrison.
Morrison added that being awarded the contract demonstrates the company’s commitment to delivering “the highest speeds” in security and encryption.
General Dynamics increased 1.5% following the announcement.
In late April, General Dynamics’ price target was raised to $285 from $280 by Susquehanna after analyst Charles Minervino stated the company could benefit from a robust recovery in the jet market. So far, in 2022, its shares are up 10.9%.
