UK Ministry of Defence awards Palantir £75 million Enterprise Agreement

LONDON, Dec. 21, 2022 /PRNewswire/ -- Palantir Technologies UK, LTD. today announced a landmark Enterprise Agreement (EA) with the UK Ministry of Defence (MOD).

Worth £75 million over three years, the partnership will support the MOD's digital transformation as it becomes a world-leading agile force of the future. Spearheaded by Defence Digital and powered by Palantir, the digital transformation will see the MOD treat data as a strategic asset, harnessing its power to deliver superior military advantage and greater efficiency across the enterprise, from headquarters to the front lines.

This partnership aims to accelerate Defence Digital's ambitious vision of where the UK needs to be by 2030, providing secure access to its data across all operational domains, Top Level Budgets and UK Armed Forces bases.

Working in close collaboration with Defence Digital, Palantir software will enable the MOD to exploit data at scale and speed to make faster, better decisions across Defence. Building on more than a decade of partnership, the agreement will enable any part of UK Defence to gain access to Palantir software across multiple classifications, wherever and however it can help - turning the MOD's digital vision into reality at pace.

Palantir builds leading digital platforms for data-driven operations and decision-making. By helping develop a data-backed representation of Defence assets, personnel and workstreams, Palantir software brings all the data that matters into a single view through a modeling concept known as an 'ontology.'

As disparate data sources are integrated into Palantir software, it digests the information, cleaning and harmonising the data and mapping it to an ontology. The ontology allows users to see data not as rows and columns but as objects, properties, and the relationships between them.

With this sophisticated, intuitive data model in place, MOD personnel can perform advance scenario planning, testing hypotheses and modelling how they would play out in real-time. Whether for front-line operations, budget decisions or maintenance planning with industry partners, Palantir's software gives the MOD the ability to understand outcomes before making decisions.

Director Chief Data at Defence Digital Caroline Bellamy said:

"As a strategic partner in a complex Defence Data eco-system, Palantir products and services are helping Defence to become a truly integrated digital enterprise, with data exploitation at the heart of a faster, better, and more integrated Defence. A Defence where real-time, interconnected data better informs decision making, our people are digitally connected and empowered, and step changes in digital capability have been made for our war fighters and across our business operations."

Guy Williams, Head of UK Defence & National Security, Palantir Technologies UK, Ltd. said:

"Palantir's Enterprise Agreement with the MOD will accelerate the UK Armed Forces' journey to become a truly integrated force. We're proud to expand our long-standing relationship with the MOD through our partnership with Defence Digital, and look forward to delivering world-leading software capabilities to enable greater operational outcomes."

Rear Admiral Jim Higham said:

"Palantir Foundry is critical to the Royal Navy's transformation driving radically improved availability of its ships and submarines."

Across UK Defence, all Palantir users can adapt the platforms to suit their needs using Palantir's suite of no-code/low-code application builders, democratising access to data and levelling up MOD users.

Palantir's UK office is one of the largest globally and is home to the company's Research & Development hub.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com/uk/defence/

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

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SOURCE PALANTIR TECHNOLOGIES INC.