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Contract watch: CDI secures $38 million Navy task order

July 12, 2017

CDI Corp. (NYSE: CDI), a Philadelphia-based provider of engineering and IT staffing, landed a new SEAPORT task order from the US Navy to provide Readiness Assistance Team support services for Commander, Naval Surface Forces Pacific. The new task order, including all options, has a maximum value of $38 million over a five-year period.

CDI will be the principal contractor providing subject-matter experts to conduct engineering and combat systems training, material review, program auditing, and naval readiness support.

“The Readiness Assistance Team prime contract is an important opportunity for CDI to provide service and support to our nation’s warfighters,” said Joseph Barbano, president of CDI Government Services. “We are extremely proud of the Navy’s confidence in CDI as a prime contractor, as expressed by this important new support contract to the fleet. Our Readiness Assistance Team members are excited to be working side-by-side with fleet sailors performing this vital service.”

CDI in March initiated a process to explore strategic alternatives, including the potential sale of the company. Two CDI shareholders in December called on the engineering and IT staffing provider to evaluate strategic alternatives, including a possible sale, and announced they intend to nominate independent directors for election at CDI’s 2017 annual meeting of shareholders.