GBP1.5m TVI and ISP contract awards

RNS Number : 9057F

Digital Barriers plc

26 February 2015

 

26 February 2015

Digital Barriers plc

("Digital Barriers")

£1.5m TVI and ISP contract awards

- Largest ever sale of TVI video surveillance technology to a commercial organisation -

- Includes option for further £3.5 million over next two years -

- Additional £0.5m follow-on ISP contract secured with leading energy company -

The Board of Digital Barriers plc (the "Group"), the specialist provider of advanced surveillance technologies to the security and defence sectors, is pleased to announce that it has secured a contract to supply its TVI video surveillance technology to a new and significant commercial customer. This customer, a leading organisation within the UK industrial services sector, will use TVI to support both operational effectiveness and site security. The contract, which carries an initial value of approximately £1.0m, includes an option for a further £3.5m of TVI solutions to be purchased over two years from next financial year. The contract and the option also include annuity license payments for each TVI video stream deployed.

The Group's TVI surveillance technology is the class-leading solution for streaming real-time live video across limited or constrained bandwidths, including cellular, satellite and IP radio networks. This offers significant capability benefits over competing technologies, as well as material cost savings given its exceptionally efficient use of available bandwidth. TVI has already been sold into more than thirty countries, and counts some of the most prominent defence and security agencies in the world as its customers, as well as an increasing number of commercial organisations. This is the first major sale of TVI into a commercial customer and represents the Group's first sale into the industrial services sector.

The Group is also pleased to announce that it has secured a follow-on contract with a leading international energy company to supply its Integrated Surveillance Platform ("ISP") for the protection of critical facilities. This follows an initial contract with the same customer, announced by the Group on 8 December 2014, which is now being delivered. The new contract, valued at £0.5m, represents a material scale-up of this relationship just three months after it was first formed.

The Group's ISP solution provides real-time video surveillance and intrusion alerts for remote and inaccessible locations.  It combines with existing infrastructure and surveillance assets to provide maximum value for money and use of legacy systems. ISP was selected here for its ability to improve performance whilst also eradicating costly and disruptive false alarms.

Zak Doffman, Chief Executive Officer of Digital Barriers commented:

"These important contract wins within our UK/Europe region follow last week's announcement of an initial sale into one of Europe's leading rail operators. Securing relationships with flagship government and commercial organisations remains key to our strategy, and we now have class-leading surveillance solutions to address their most difficult security challenges.

We are particularly encouraged to see these successes come through so soon after the recent investments we have made in our regional sales teams. These wins can be attributed to the new leadership of our UK/Europe sales team, giving us confidence that similar changes made to the management of our US and Middle East/Africa regions will materially support our international sales expansion."

For further information, please contact:

Digital Barriers plc	Tel: [phone]
Zak Doffman, Chief Executive Officer
Sharon Cooper, Finance Director
Investec Investment Banking	Tel: [phone]
Andrew Pinder/ Dominic Emery
FTI Consulting	Tel: [phone]
Edward Bridges/ Matt Dixon/ Rob Mindell

About Digital Barriers

Digital Barriers provides advanced surveillance technologies to the international homeland security and defence markets, specialising in 'edge-intelligent' solutions that are designed for remote, hostile or complex operating environments. We work with governments, multinational corporations and system integrators in the defence, law enforcement, critical infrastructure, transportation and natural resources sectors. Our surveillance technologies have been successfully proven on some of the most demanding operational and environmental deployments around the world.

www.digitalbarriers.com 

 

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