- Adacel (ADA) announces a 12 year extension of its subcontract with Leidos for the FAA’s Advanced Technologies & Oceanic Procedures (ATOP) Program
- For more than 20 years, through Leidos, Adacel has been supporting the oceanic automation software of the ATOP system
- Adacel CEO Daniel Verret is pleased with the long partnership with Leidos
- On market close, Adacel was up five per cent at $1.26 per share
Adacel (ADA) has announced an extension of its subcontract with Leidos for the FAA’s Advanced Technologies & Oceanic Procedures (ATOP) Program.
Adacel is an industry leader in advanced air traffic management solutions, and simulation and training systems.
This follows on from the FAA extending its contract with Leidos to support the ATOP program for another 12 years.
For more than 20 years, through Leidos, Adacel has been supporting the oceanic automation software of the ATOP system.
This support has provided increased operational efficiency within the US-controlled oceanic airspaces of the Atlantic and Pacific as well as the systems’ continued modernisation.
The ATOP contract was awarded in 2001 and the system went operational in 2005.
The subcontract, which includes one base year and eleven option years, was extended on substantially the same terms. It has, on average, accounted for about 45 per cent to 65 per cent of the company’s services revenues over the previous contract term.
Adacel CEO Daniel Verret is pleased with the long partnership with Leidos.
“The program benefits are immense to the flying public and our customers. We look forward to supporting the program for years to come with the same passion and dedication we put forward since the program’s inception,” he said.
On market close, Adacel was up five per cent and is trading at $1.26 per share.