Contract and Subscription Renewals

Intercede Group PLC

02 April 2024

 

02 April 2024

INTERCEDE GROUP plc

('Intercede', the 'Company' or the 'Group')

Contract and Subscription Renewals

Intercede, the leading cybersecurity software company specialising in digital identities, today announces further contract and subscription renewals, in excess of $4m in value.

Amongst these renewals, Intercede is pleased to confirm the following:

·   a large US Federal Government order for MyID CMS, totalling $3.45m for annual subscription renewal on a longstanding existing project for the period from 1 April 2024 to 31 March 2025. Pricing has been agreed for a base year (2024/2025) plus four incremental years;

·   a significant MyID PSM subscription renewal and expansion for an NHS Trust, totalling £0.19m over three years commencing 1 April 2024; and

·    a MyID CMS renewal for a global supervisory banking system, totalling $0.19m.

These renewals underpin the Group's revenue for FY25 and creates contracted revenue backlog for future years.

In line with normal practice, a FY24 trading update will be provided with further detail in the coming weeks.

ENQUIRIES

Intercede Group plc	Tel. + 44 (0)1455 558111
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	ECM

About Intercede

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

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

 

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