Mastek has been named as a supplier on the UK's Ministry of Defence's £1.2B Digital and IT Professional Services Framework

Mastek (MASTEK; BSE: 523704), a trusted digital engineering and cloud transformation partner, today announced that it has been awarded a place on Lot 1: Solution, Enterprise & Tech Architecture, Data, Innovation, Tech Assurance, and Knowledge & Information Management of the UK Ministry Of Defence's (MOD) Digital and IT Professional Services (DIPS) framework. Mastek will also be a subcontractor for Qinetiq Limited on Lot 2: Dev, Aps, UX, Dev Ops, Sys Design, and App Support, and on Lot 3: Cyber Security, Crypto, Sec Ops, and Integrated Systems.

Crown Commercial Service (CCS) assisted MOD in the production of the DIPS framework and became the framework authority upon go-live with MOD responsible for all customer engagement. The DIPS framework is due to run for four years.

Crown Commercial Service supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2022/23, CCS helped the public sector achieve commercial benefits equal to £3.8bn, supporting world-class public services that offer the best value for taxpayers.

The comprehensive DIPS framework will support and enable the MOD with its digital strategy in the areas of data, modern technology, cyber defence, and digital delivery of capability that is relevant, cost-competitive, and on time to meet the demands of Defence's transformation objectives.

The DIPS Framework is strongly aligned with the ongoing transformation objectives at Defence Digital and will allow MOD access to a wide range of industry skills through pre-defined terms and conditions. It will help with a shorter time to market, provide improved delivery and reporting, and provide value for money. The DIPS framework has a budget of approximately £1.2bn over 4 years.

Dean Richardson, Head of Digital Enablement at Mastek, said, "Being a supplier to the MOD through the DIPS framework is a fabulous opportunity to grow our already proven trusted relationship. We've brought together a strong supply chain ecosystem, which gives us the best structure to deliver against the MOD's future requirements. We have used the procurement time wisely and are ready to get started."

Mastek has been a trusted supplier to the MOD since 2017 and continues to invest in developing their mission-critical capabilities in the areas of strategy, digital & cloud applications, architecture, security, identity management, DevSecOps using agile delivery models, and data exploitation. The DIPS Framework will provide a key route to the market for these capabilities in Defence.

Shares of Mastek Limited was last trading in BSE at Rs. 2699.65 as compared to the previous close of Rs. 2796.10. The total number of shares traded during the day was 11371 in over 2322 trades.

The stock hit an intraday high of Rs. 2796.00 and intraday low of 2682.10. The net turnover during the day was Rs. 31290878.00.

Source : Equity Bulls

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