Another failure in the works
For that kind of money you could establish your own Development department driven by a strong C level manager and would increase the likelihood of project success 1000 fold.
I've said it before - the only way to make large projects work is to have a very strong person in the drivers seat. Someone knowledgeable enough to make final decisions and strong enough to force the various people that will ultimately use this into compliance. By spreading it across multiple vendors they've already opened up the likelihood of finger pointing and wasted time.
Personally I don't think projects should have more than about 30 people involved in the actual development cycle, with most of them in smaller groups of about 5 people with clear lines of responsibility. Beyond that you need too many middle managers who will be empire building and quietly sabotaging rivals until the whole thing goes down in flames.
When you have multiple companies involved it just gets worse as each vendor is vying to get additional responsibility (ie: cash) by pointing out how bad the others are.
They're doomed -- doomed I tell you.