Intercede Group PLC Contract Win (1737D)
25 April 2013 - 8:00AM
UK Regulatory
TIDMIGP
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 GBP600,000. However, it is expected that,
subject to performance, the contract value to Intercede is likely
to exceed GBP1.5 million in the current financial year and GBP10
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(R) is a security software provider whose MyID(R)
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
END
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