Intercede Group PLC New Contract Award (6425E)
13 February 2018 - 6:00PM
UK Regulatory
TIDMIGP
RNS Number : 6425E
Intercede Group PLC
13 February 2018
13 February 2018
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 that
a Middle Eastern country has selected Intercede's MyID solution to
power the issuance of mobile government identities to its
citizens.
Under this program, any citizen with an existing national
identity card will be able to easily and securely generate a new
government digital identity on their smart phone via a government
app. Using Intercede MyID software, this digital identity can then
be used for accessing a mobile eco-system of government services,
health care, banking and e-commerce. This will significantly
increase the efficiency and security of public service delivery and
return enhanced privacy and convenience to citizens and
consumers.
For the customer country, this solution will catapult them to
being a world-leading nation for the mobile-first delivery of
digital services.
For Intercede, this is a strategically important project that
exploits many of the new technologies Intercede has developed over
the last two years. The contract was secured through an existing
Intercede regional channel partner and is anticipated to be the
first of many such orders around the world.
This contract will have an initial new order value of more than
GBP1,000,000 and will also generate recurring annual fees.
Approximately 50% of this initial contract value is expected to be
received within the next 30 days with the remainder expected to be
received in Intercede's financial year ending 31 March 2019, based
on Intercede fulfilling certain commercial milestones.
Richard Parris, Chairman & Chief Executive of Intercede,
said: "I am pleased that the recent investment we have made in new
mobile identity technology is starting to generate significant
orders. We have used the last two years to develop a competitively
differentiated mobile identity platform in a market with high
barriers to entry. Through our network of partners, Intercede is
now in an excellent position to capitalise on this lead in multiple
geographic territories. As I stated in the Intercede's 2017 Annual
Report, establishing Intercede at the heart of critical eco-systems
is central to our strategy. This contract is the manifestation of
that pledge and is a top tier reference customer for other nations
to follow."
ENQUIRIES
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
About Intercede
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.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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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