Long Term Infrastructure Contract

RNS Number : 9226D

Synectics PLC

08 March 2022

 

RNS	8 March 2022

Synectics plc

("Synectics" or the "Company")

Long Term Infrastructure Contract

Synectics plc (AIM: SNX) , a leader in the design, integration and support of advanced security and surveillance systems, announces the award of a substantial long-term contract to provide security management software support for the UK energy company, National Grid, across its estate.

Synectics' Synergy software platform has been deployed at the National Grid Security Control Centre  for a number of years. Synergy provides National Grid with a reliable, robust and scalable command and control solution that enables the centralised monitoring and management of its network of critical infrastructure sites and assets.

Following a recent upgrade to the latest version of Synergy software, National Grid has entered into a five-year contract with Synectics to provide software support. Although the total contract value is confidential, Synectics expects to recognise revenue of approximately £600,000 in this financial year, with lesser amounts in each of the remaining years of the contract. The contract also includes provision for further software licences as the system is deployed across additional National Grid sites.

Synectic Systems contracts directly with National Grid for the provision of the software whilst first-line on-site support is provided by a small number of selected integration partners.

Paul Webb, Chief Executive of Synectics plc, commented: " It is really pleasing to see that our focus on building long-term customer relationships is recognised, and that our programme of continuous customer-driven innovation is valued by important customers such as National Grid.

"This further expands Synectics' footprint in high-security infrastructure markets, where we have a strongly differentiated product offering."

For further information, please contact:

Synectics plc	Tel: [phone]
Paul Webb, Chief Executive David Bedford, Finance Director
email: [e-mail]	www.synecticsplc.com
Shore Capital	Tel: [phone]
Tom Griffiths / David Coaten / Henry Willcocks

Ends

About Synectics plc

Synectics (AIM: SNX) is a leader in the design, integration and support of advanced security and surveillance systems that enable clients around the world to protect their people, communities, and assets.

Founded over 30 years ago, Synectics has deep industry experience across gaming, energy, urban transport, public space and critical infrastructure projects. The Group's expert engineering teams work in partnership with customers to create integrated product and technology solutions, proven in the most complex and demanding operating environments.

Find out more at www.synecticsplc.com

 

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