Oracle Signs a Ten-Year Software Contract Worth Up to $7 Billion with the U.S. Department of Defense
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The U.S. Department of Defense announced on Thursday that it has signed a ten-year software supply contract worth nearly $7 billion with Oracle Corporation. The contract covers the software usage needs of military branches, intelligence systems, and the Coast Guard for Oracle's software, with an initial contract period of five years and an option for a five-year extension. In response to this news, Oracle's stock price rose approximately 3% in after-hours trading.