REG - Intercede Group PLC - Contract and Renewals Orders

IntercedeAnnouncement

07/11/2023 07:00

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RNS Number : 5478S  Intercede Group PLC  07 November 2023

7 November 2023

INTERCEDE GROUP plc

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

 

Contract and Renewals Orders

 

Intercede, the leading cybersecurity software company specialising in digital
identities, is pleased to announce that the Group has secured the following
contract and renewal orders:

 

·    New top-up licence order for MyID CMS from a large existing US
Defence and Aerospace manufacturer;

·    New Technology Client for MyID PSM in the Middle East, and although
the value is relatively small it increases the Group's footprint in the sector
and location;

·    New Government Agency for MyID MFA/PSM in the Middle East again
increasing the Group's reach in this country;

·    Significant upgrade by a large northern European Bank of MyID CMS;
and

·    Renewal of a sizable Support and Maintenance contract with a major US
Federal Agency, with renewal increasing in monetary terms by approximately
45%.

 

These orders, with an aggregate contract value in excess of $1.4m, underpin
the Group's revenue for FY24 and creates contracted revenue backlog for FY25.

 

Klaas van der Leest, CEO, commented:

 

"As announced at the start of September, our pipeline continues to strengthen
and develop. With increased interest from existing and prospective customers
in the US, EMEA and APAC we believe the Group is well positioned and we look
forward to providing further information in our H1 results later this month."

 

 

ENQUIRIES

Intercede Group plc
 
Tel. +44 (0)1455 558 111

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/Charlotte Sutcliffe, 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 (http://www.intercede.com)

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