The organisation ensured that the legacy was in keeping with plans for the development of the Queen Elizabeth Olympic Park, with employment, training, affordability and sporting opportunities for Londoners at the heart of the contracts.
Greenwich Leisure Limited (GLL) will operate the Aquatics Centre and the Multi-Use Arena, and Balfour Beatty Work Place will run the Arcelor Mittal Orbit and manage the maintenance of the Queen Elizabeth Olympic Park.
The contracts will ensure 254 full time jobs and 86 apprenticeship places every year. On average, 75% of jobs from the two contracts will go to local people in the host boroughs.
The price of swimming at the Aquatics Centre or hiring a court at the Arena will be the same as the average local pool or sports centre.
Baroness Margaret Ford, chair of the Olympic Park Legacy Company, said: "GLL and Balfour Beatty Work Place will play a key part in the creating a Queen Elizabeth Olympic Park that is a thriving visitor destination with world class sporting venues that are both affordable and accessible to the public.
"The combination of Balfour Beatty Work Place’s commitment to jobs and apprenticeships and GLL’s innovative proposals for sports programming will create a host of economic and sporting opportunities.
"Today’s appointments are just another example of how London’s legacy plans are further ahead than any previous host Olympic City."
Prime minister David Cameron added: "As Ministers visit Olympic venues, businesses, schools and organisations associated with 2012 right across the UK, I want the message to go out loud and clear, from tourism to business, sport to investment, we are determined to maximise the benefits of 2012 for the whole country.
"Today, as we mark 200 days to go, and six out of the eight Olympic venues having already secured their future, we are well on track to delivering a lasting legacy for the whole of Britain."
GLL, which takes over the Aquatics Centre and Multi-use Arena for 10 years starting in 2013, anticipates 800,000 visitors a year.