Commerce Awards $294M to Financial Times for Web Search Portals Through Non-Competitive Contract
Contract Overview
Contract Amount: $293,961 ($294.0K)
Contractor: Financial Times Limited(the)
Awarding Agency: Department of Commerce
Start Date: 2026-03-19
End Date: 2031-03-18
Contract Duration: 1,825 days
Daily Burn Rate: $161/day
Competition Type: NOT COMPETED
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: IT
Official Description: ONLINE DATABASE
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20230
Plain-Language Summary
Department of Commerce obligated $293,961 to FINANCIAL TIMES LIMITED(THE) for work described as: ONLINE DATABASE Key points: 1. Significant contract value of $293.96M over 5 years. 2. Sole-source award raises questions about competition and potential cost savings. 3. Contract duration of 5 years suggests a long-term need for these services. 4. The 'Web Search Portals and All Other Information Services' category is broad and could encompass various data needs.
Value Assessment
Rating: questionable
Without competitive bids, it's difficult to assess if the $293.96M price represents fair market value. The lack of comparison data makes a pricing assessment challenging.
Cost Per Unit: N/A
Competition Analysis
Competition Level: sole-source
The contract was not competed, indicating a sole-source award. This limits price discovery and potentially leads to higher costs for taxpayers.
Taxpayer Impact: The absence of competition may result in the government paying more than necessary for these web search portal services.
Public Impact
Taxpayers may be overpaying due to the lack of competitive bidding. Limited transparency into the justification for a sole-source award. Potential for missed opportunities to leverage innovative solutions from a wider market.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Sole-source award
- Lack of competition
- Long contract duration
- Broad service description
Positive Signals
- Clear contract end date
- Firm fixed price contract type
Sector Analysis
The 'Web Search Portals and All Other Information Services' sector is vast, encompassing data aggregation, search technology, and information dissemination. Benchmarks are difficult without specific service details, but large, long-term contracts in this area often involve significant investment.
Small Business Impact
The data does not indicate whether small businesses were considered or subcontracted. Sole-source awards often bypass opportunities for small business participation.
Oversight & Accountability
The justification for this sole-source award and the process followed will require thorough review to ensure accountability and adherence to procurement regulations.
Related Government Programs
- Web Search Portals and All Other Information Services
- Department of Commerce Contracting
- Office of the Secretary Programs
Risk Flags
- Lack of competition may lead to inflated costs.
- Potential for vendor lock-in due to sole-source nature.
- Broad service description lacks specificity, hindering performance evaluation.
- Long contract duration increases risk exposure over time.
Tags
web-search-portals-and-all-other-informa, department-of-commerce, dc, definitive-contract, 100k-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Commerce awarded $293,961 to FINANCIAL TIMES LIMITED(THE). ONLINE DATABASE
Who is the contractor on this award?
The obligated recipient is FINANCIAL TIMES LIMITED(THE).
Which agency awarded this contract?
Awarding agency: Department of Commerce (Office of the Secretary).
What is the total obligated amount?
The obligated amount is $293,961.
What is the period of performance?
Start: 2026-03-19. End: 2031-03-18.
What was the specific justification for awarding this contract on a sole-source basis, and were alternative solutions explored?
The justification for a sole-source award is critical. Agencies typically cite unique capabilities, urgent needs, or lack of viable alternatives. Without this information, it's impossible to determine if the government adequately explored competitive options or if this was the only feasible path to acquire the necessary services, potentially impacting value for money.
How does the per-unit cost or overall value of this contract compare to similar services procured competitively in the market?
A direct comparison is challenging due to the sole-source nature and broad service description. However, a benchmark analysis against publicly available data for comparable web portal services, adjusted for scope and duration, could reveal potential overpricing. The absence of competition inherently prevents a definitive market-based validation of the price.
What specific metrics or performance indicators are in place to ensure the effectiveness and value of the 'Web Search Portals and All Other Information Services' provided by Financial Times Limited?
Effectiveness is measured by defined deliverables and performance standards within the contract. Key performance indicators (KPIs) related to data accuracy, search result relevance, uptime, and user satisfaction would be crucial. Regular performance reviews and reporting are essential to ensure the agency receives the intended value and that the services meet evolving needs.
Industry Classification
NAICS: Information › Web Search Portals, Libraries, Archives, and Other Information Services › Web Search Portals and All Other Information Services
Product/Service Code: RESEARCH AND DEVELOPMENT › Education, Training, Employment, and Social Services R&D Services
Competition & Pricing
Extent Competed: NOT COMPETED
Solicitation Procedures: ONLY ONE SOURCE
Solicitation ID: AA-OGC-AR-O-26
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Parent Company: Nikkei Inc.
Address: BRACKEN HOUSE, LONDON
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Foreign Owned, Foreign-Owned and U.S.-Incorporated Business, Not Designated a Small Business, Special Designations
Financial Breakdown
Contract Ceiling: $1,644,777
Exercised Options: $293,961
Current Obligation: $293,961
Contract Characteristics
Multi-Year Contract: Yes
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Timeline
Start Date: 2026-03-19
Current End Date: 2031-03-18
Potential End Date: 2031-03-18 00:00:00
Last Modified: 2026-04-10
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