A consortium led by Unisys Corporation (UIS - Free Report) has been given the responsibility to modernize the mission-critical communications network used by European Union member states to share customs and tax information. The estimated €63-million framework contract was announced by Unisys’ Belgian subsidiary and Steria, a provider of IT-enabled business services.
The contract was awarded by European Commission's Directorate General for Taxation and Customs (DG Taxud). DG Taxud's Common Communication Network (CCN) supports areas of taxation between member states, including VAT, excise duties, transit and import.
Under this contract, the existing legacy communications infrastructure of DG Taxud will be replaced with a cost-effective, flexible platform. The new network, named as Common Communication Network 2 (CCN2), will provide communications links between 28 European member states' customs and tax operations and the multiple systems in operations.
With this contract, Unisys aims to help the European Commission modernize its infrastructure, fasten the flow of communications and reduce overall costs. This project will further strengthen the collaboration and transparency among European member states by facilitating critical data exchanges.
Based in Blue Bell, PA, Unisys specializes in helping clients to secure their operations, increase efficiency and utilize their data centers, enhance support to their end users and constituents, and modernize their enterprise applications. The primary markets that Unisys serves worldwide include financial services, communication and transportation, commercial and public sector, including the U.S. federal government.
Unisys currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Amdocs Ltd (DOX - Free Report) , EPAM Systems, Inc. (EPAM - Free Report) , and CoStar Group Inc. (CSGP - Free Report) , each carrying a Zacks Rank #2 (Buy).