Contract awards and trading update

Date: July 28th 2013 | Author: Rik Merrikin | Topic: RNS

Intercede announces contract awards in support of two major telecommunications customers in North America and Europe. Contracts have been signed and the first purchase orders have been received. The combined FY14 revenue value of these new accounts could be up to £2m. However, it is expected that, subject to performance, this value is likely to grow significantly in future periods.

Under these contracts, Intercede is supplying MyID software licenses, annual support and maintenance services and professional services. The customers will be using the Intercede MyID identity and credential management platform to manage digital credentials issued to staff and enterprise customers on smartphones and smart cards. The contracts include elements of collaborative design and development.

These contracts will make a material contribution to the financial year closing 31 March 2014 and further increase management’s confidence that Intercede will meet its growth targets and market expectations for the year.

Richard Parris, Intercede Chairman and Chief Executive said: “These awards meet our three stated strategic goals: capturing new accounts in North America and Europe; widening our sales channels to cover major players in the mobile telecoms industry; and accelerating R&D in expanding the MyID platform to provision digital identities into mobile devices.

“They are a result of Intercede’s unique combination of market-leading products and expertise and are evidence of the applicability of our technology to the global telecommunications industry. We value the opportunity to partner with some of the world’s leading mobile network operators to continue to expand and enrich our MyID mobile product set.”

About Intercede
Intercede® is a security software provider specializing in trusted digital identities.

Intercede’s 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 to deliver flexible digital identity solutions that are interoperable with other existing technologies and which are tailored to customer needs.

The world’s largest governments, major corporations and mobile network operators trust Intercede’s deep expertise to deliver effective solutions. The Company’s technology achievements reflect a significant investment in the development of intellectual property, 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

Enquiries

Intercede Group plc
Tel.+44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director

FinnCap
Tel. +44 (0)207 2200500
Stuart Andrews/Rose Herbert, Corporate Finance
Joanna Weaving, Corporate Broking

Pelham Bell Pottinger
Tel. +44 (0)207 8613112
Archie Berens


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