(Bloomberg) American software firm Palantir Technologies Inc. has inked a 10-million-pound agreement with the United Kingdom to automate transactions and cut down processing time.
The agreement covers a 12-month contract which is redacted. It covers support for the Foundry platform, which will enable users to reduce costs through work automation and data processing.
The contract was bagged in March with the Ministry of Defence, along with other contracts which involve data integration, along with another deal with the Royal navy on data analytics.
A spokesperson for Palantir said the firm has served as a partner of the Ministry of Defence for over a decade, adding that it is committed to supporting the values of the United Kingdom’s Armed Forces.
Chief Executive Officer Shyam Sankar last month revealed that the firm’s services are being used by European governments to organize material distribution to Ukranian refugees who sought refuge following the invasion by Russia.
PLTR is down 1.69%, while DAT is flat.
