4 December 2017
INTERCEDE GROUP plc
('Intercede', the ‘Company' or the ‘Group')
New Contract Award
Intercede, the software and service company specialising in identity, credential management and secure mobility, announces it has signed a contract with a UK Government Ministerial department.
Under this agreement, Intercede will supply services to enable the customer to embed the MyID product for employees into its network infrastructure. This will be used to provide digital identities to staff involved in international collaboration. Financially, the new contract will generate revenue for the Group of around £250,000 in the current financial year and potentially up to £500,000 in the following year.
Intercede’s MyID will enable this customer to eliminate a reliance on the use of potentially insecure passwords for secure authentication. In doing so, the department will become more resistant to social engineering and other cyber-attacks based on compromising employee login details. This makes it easier for the UK Government to meet its international obligations for secure partnership with other governments around the world.
Intercede has been supplying secure solutions to UK government agencies for more than 15 years.
Richard Parris, Chairman & Chief Executive of Intercede, said:
“This contract was secured following a competitive tender process. Our success demonstrates that Intercede’s MyID product and services remains the first choice for security aware customers seeking to replace password-based authentication with strong digital credentials. This deployment is similar to solutions previously sold to the Australian, Canadian and US governments.”
Intercede Group plc Tel. +44 (0)1455 558 111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
finnCap Tel. +44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Simon Hicks, Corporate Finance
Capital Access Group Tel. +44 (0)20 3763 3400
Scott Fulton, Media
Ed Welsby, Investors
Intercede is a cybersecurity company specialising in digital identities, derived credentials and access control, enabling digital trust in a mobile world.
Headquartered in the UK, with offices in the US, we believe in a connected world in which people and technology are free to exchange information securely, and complex insecure passwords become a thing of the past.
Our vision is to make the highest levels of cybersecurity available to organizations and consumers alike, solving complexity and scalability issues by managing high volumes of digital credentials.
We have been delivering trusted solutions to high profile customers for over 20 years. Our team of experts has deployed millions of identities to governments, most of the largest aerospace and defence corporations, and major financial services and healthcare organizations, as well as leading telecommunications, cloud services and information technology firms, providing industry-leading employee and customer credential management systems.
For more information visit: www.intercede.comThe information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.