Contract Win

RNS Number : 1737D
Intercede Group PLC
25 April 2013
 



25 April 2013

Intercede Group plc

("Intercede")

 

Contract Award

 

Intercede is pleased to announce the award of a major contract in support of a large scale government security program. Contracts have been signed and the first purchase order has been received, with a value in excess of £600,000. However, it is expected that, subject to performance, the contract value to Intercede is likely to exceed £1.5 million in the current financial year and £10 million over a five year period.

 

Under this program, Intercede is contracted to a multinational prime contractor who in turn is contracted to a government agency in a G8 nation.

 

This contract had been expected to make a material contribution to the financial year closing 31 March 2013 but procurement delays by the contracting government caused slippage into the following period.

 

Richard Parris, Intercede Chairman and Chief Executive said:

 

"This award is the result of a two year competitive procurement process by a knowledgeable end-customer. The prime contractor is also one of the world's most sophisticated systems integrators. I am delighted that both parties selected Intercede's MyID platform as their preferred 'best of breed' solution. Our success in securing this position underpins Intercede's reputation as the world's leading identity and credential management systems provider for homeland security projects."

 

 

ENQUIRIES

 

Intercede Group plc

Tel.     +44 (0)1455 558111

Richard Parris, Chairman & Chief Executive


Andrew Walker, Finance Director




FinnCap

Tel.      + 44 (0)20 7220 0500

Stuart Andrews/Rose Herbert, Corporate Finance


Joanna Weaving, Corporate Broking




Pelham Bell Pottinger

Tel.     +44 (0)20 7861 3112

Archie Berens


 

About Intercede

Intercede® is a security software provider whose MyID® identity management platform enables global organisations and governments to create trusted digital identities for employees and citizens on secure devices such as smartcards, smartphones and tablets. MyID enables the protection of IP, assets, and digital content, delivering trusted digital identities as the cornerstone of cyber security strategies for government, defence, financial services and other industries.

 

The Company operates in global markets (including the US, Europe and Middle East) and works with large international partners including BT, Gemalto, HP, Microsoft, Oberthur, SafeNet, Symantec and Thales to deliver flexible digital identity solutions that are interoperable with other existing technologies and which are tailored  to customer needs.

 

 

 

Corporations such as Boeing, Booz Allen Hamilton and Lockheed Martin, and governments including the USA, UK and Kuwait, trust Intercede's deep expertise to deliver effective solutions. The company's technology achievements reflect an investment of 300 plus man years of development, exemplary speed of deployment and adherence to international standards including FIPS 201, where MyID was the first electronic personalization product to obtain GSA approval. This trust is reflected in Intercede's rate of repeat business with its customers, which typically runs at 70-80% of annual revenues. 

 

Intercede has been developing ID management systems since 1992 and MyID is currently deployed by end customers located in 24 countries. The company is headquartered in the UK, listed on the London Stock Exchange AIM: IGP and ISO 9001 and TickIT certified.

 

For more information visit http://www.intercede.com 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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