Contract Win

RNS Number : 5193E

Intercede Group PLC

09 May 2017

 

9 May 2017

INTERCEDE GROUP plc

("Intercede", or the "Group")

Contract Win

Intercede, the leading specialist in digital identity, credential management and secure mobility, today announces further progress in securing contract wins from its pipeline with the award of a MyID contract from a major US aerospace and defence contractor.

Under this contract, Intercede's MyID platform will be used to issue and manage digital credentials for more than 100,000 entities including employees, computers and other devices. The supply chain for this project is through a long standing Intercede ecosystem partner and is expected to generate approximately US$1.0 million of revenue over the next five years.

This further contract win follows the 5 April 2017 announcement that Intercede had secured MyID contract wins with a major US Federal Agency and a US based world leader in medical care, research and education. In combination, it is expected that these previously announced wins will generate revenue for the Group of US$1.5 million over the next five years.

In full deployment, the Federal Agency agreement will encompass approximately 100,000 employees distributed across 300 physical facilities around the world. The first phase covers 60% of the workforce who need to use digital credentials to secure access to government networks and information assets. Within the healthcare organisation, MyID will be used to issue cryptographic tokens to enable secure network access for up to 60,000 people.

Commenting on the Group's progress, Richard Parris, Chairman and Chief Executive of Intercede, said;

"It is pleasing to report further progress in securing important contract wins within our core markets. The most recent award supports our view that the provision of digital trust is increasingly required by a range of critical industries where legacy password authentication systems will be replaced by digital provision. Led by the Government, emerging US best practice is expanding the addressable market place for the MyID platform into critical industries such as healthcare in addition to our core aerospace and defence base. I am particularly pleased that Intercede has won these contracts in partnership with significant participants in the digital security space. Our ability to work with these companies and to embed our solutions within vital ecosystems provides a strong proof of concept for potential customers in new geographies and industries."

-ENDS-

Contact

Intercede Group plc	Tel: [phone]
Richard Parris	Chairman & Chief Executive
Andrew Walker	Finance Director
finnCap	Tel: [phone]
Stuart Andrews	Corporate Finance
Simon Hicks	Corporate Finance
Capital Access Group	Tel: [phone]
Scott Fulton	Media
Ed Welsby	Investors

About Intercede

Intercede® is a cybersecurity company specializing in identity, credential management and secure mobility to enable digital trust. It provides software and services that help organizations ensure the safety and security of their people, facilities, networks and information in an increasingly mobile, digital world.

Intercede has been delivering solutions to high profile customers, from the US and UK governments to some of the world's largest corporations, telecommunications providers and information technology firms, for over 20 years. To find out more: www.intercede.com

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

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