Alphabet Inc.’s Google (GOOGL) Cloud announced on Wednesday that it won a contract with the U.S. Department of Defense to help detect and protect against cyber threats worldwide.
The financial terms of the contract were not disclosed. The deal is estimated to be in the “seven figures”, Axios website reported.
As part of the contract, Google Cloud said that it will build a secure cloud management solution for the Defense Innovation Unit (DIU) to detect, protect against, and respond to cyber threats.
“Google Cloud is a pioneer in ‘zero trust’ security and in deploying innovative approaches to protecting and securing networks worldwide,” said Mike Daniels, VP, Global Public Sector at Google Cloud. “We’re honored to partner with DIU on this critical initiative to protect its network from bad actors that pose threats to our national security.”
The multi-cloud solution will be built on Anthos, allowing the U.S. Defense unit to run web services and applications across Google Cloud, Amazon Web Services, and Microsoft Azure, while being centrally managed from the Google Cloud platform. The solution provides real-time network monitoring, access control, and full audit trails, enabling DIU to maintain its strict cloud security posture without compromising speed and reliability.
Shares in Google on Wednesday rose 2.5% to $1,409.16 taking the stock’s advance in the past two months to 34%.
Wall Street analysts are bullish on Google’s stock. The Strong Buy consensus boasts 33 Buy ratings and 2 Hold ratings, according to TipRanks’ database. Following the stock’s recent rally, the average analyst price target of $1,488.09 implies a mere 5.6% upside potential for investors in the coming 12 months. (See Alphabet’s stock analysis on TipRanks).
Spotify Surges 8.4%, Joe Rogan Brings More Than Experience Says Top Analyst
Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion
Apple is Said to Snap Up Startup NextVR For Virtual Reality Content; Top Analyst Sees Buying Opportunity