7 November 2023
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
Contract and Renewals Orders
Intercede, the leading cybersecurity software company specialising in digital identities, is pleased to announce that the Group has secured the following contract and renewal orders:
· New top-up licence order for MyID CMS from a large existing US Defence and Aerospace manufacturer;
· New Technology Client for MyID PSM in the Middle East, and although the value is relatively small it increases the Group's footprint in the sector and location;
· New Government Agency for MyID MFA/PSM in the Middle East again increasing the Group's reach in this country;
· Significant upgrade by a large northern European Bank of MyID CMS; and
· Renewal of a sizable Support and Maintenance contract with a major US Federal Agency, with renewal increasing in monetary terms by approximately 45%.
These orders, with an aggregate contract value in excess of $1.4m, underpin the Group's revenue for FY24 and creates contracted revenue backlog for FY25.
Klaas van der Leest, CEO, commented:
"As announced at the start of September, our pipeline continues to strengthen and develop. With increased interest from existing and prospective customers in the US, EMEA and APAC we believe the Group is well positioned and we look forward to providing further information in our H1 results later this month."
Intercede Group plc Tel. +44 (0)1455 558 111
Klaas van der Leest, CEO
Nitil Patel, CFO
Cavendish Capital Markets Limited Tel. +44 (0)20 7220 0500
Simon Hicks/Fergus Sullivan, Corporate Finance
Tim Redfern/Charlotte Sutcliffe, ECM
Intercede is a cybersecurity software company specialising in digital identities, and its innovative solutions enable organisations to protect themselves against the number one cause of data breach: compromised user credentials.
The Intercede suite of products allows customers to choose the level of security that best fits their needs, from Secure Registration and ID Verification to Password Security Management, One-Time Passwords, FIDO and PKI. Uniquely, Intercede provides the entire set of authentication options from Passwords to PKI, supporting customers on their journey to passwordless and stronger authentication environments. In addition to developing and supporting Intercede software, the Group offers professional services and custom development capabilities as well as managing the world's largest password breach database.
For over 20 years, global customers in government, aerospace and defence, financial services, healthcare, telecommunications, cloud services and information technology have trusted Intercede solutions and expertise in protecting their mission critical data and systems at the highest level of assurance.
For more information visit: www.intercede.com