US$10 million contract win

Synectics PLC

18 June 2024

 

18 June 2024

Synectics plc

("Synectics" or the "Company")

US$10 million contract win

Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, announces that it has been awarded a contract valued at approximately US$10 million (the "Contract") to upgrade and expand the surveillance system at a major gaming resort in South-East Asia (the "Customer"), one of the most successful and highest profile gaming resorts in the world. Delivery of the Contract is anticipated to commence late in the Company's current financial year ending 30 November 2024 with completion expected by the end of the financial year ending 30 November 2025.

The Customer has been using Synergy, the Company's proprietary software platform, since 2014 and the Contract will expand and upgrade the Customer's existing system to the latest version of Synergy.

This is a complex project with the Customer's system remaining in operation 24/7 throughout the upgrade, and the Company is currently developing a detailed programme with the Customer.

Paul Webb, Chief Executive Officer of Synectics, commented:

"We are delighted to have secured this contract which reflects the significant market opportunity that exists in the casino and leisure sector in Asia.

The strength of Synergy's capabilities and the quality of our support is evident by the fact that the Customer, who has been working with Synectics since 2014, has committed to such a significant, long-term upgrade and expansion programme with us."

For further information, please contact:

Synectics plc Paul Webb, Chief Executive Officer Amanda Larnder, Chief Financial Officer [e-mail]	Tel: [phone]
Shore Capital Tom Griffiths / David Coaten	Tel: [phone]
Vigo Consulting Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald [e-mail]	Tel: [phone]

About Synectics plc

Synectics plc (AIM: SNX) is a leader in advanced security and surveillance systems that help protect people, property, communities, and assets around the world.

The Company's expertise is in providing solutions for specific markets where security and surveillance are critical to operations. These include gaming, oil and gas, public space, transportation, and critical infrastructure.

Synectics has deep industry experience in these markets and works closely with customers to deliver solutions that are tailored to meet their needs. Technical excellence, combined with decades of experience and long-standing customer relationships, provides fundamental differentiation from mainstream suppliers and makes the Company a stand out in its field.

Find out more at www.synecticsplc.com

 

END