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.”
Intercede® is a security software provider whose MyID® identity management platform enables global organizations and governments to create trusted digital identities for employees and citizens on secure devices such as smart cards, 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, defense, 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 www.intercede.com
Intercede Group plc
Tel.+44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Tel. +44 (0)207 220 0500
Stuart Andrews/Rose Herbert, Corporate Finance
Joanna Weaving, Corporate Broking
Pelham Bell Pottinger
Tel.+44 (0)207 861 3112