Oracle Signs $700 Million U.S. Defense Department Software Contract Through 2036

According to CNBC, Oracle signed a software supply contract with the U.S. Department of Defense worth up to $700 million on July 23. The 10-year agreement covers on-premises software licenses, maintenance, and consulting services for the U.S. military branches, intelligence agencies, and Coast Guard.

The contract consolidates previously fragmented software procurement into a single agreement, with the Defense Department's Chief Information Officer Kristin Davis stating the move will save U.S. taxpayers at least $441 million. The deal includes a five-year base period with a five-year extension option.