REG - Spectra Systems Spectra Systems-SPSC - New Lottery Security Contracts

Spectra SystemsAnnouncement

15/07/2019 07:06

RNS Number : 4403F
Spectra Systems Corporation
15 July 2019
 


Spectra Systems Corporation
("Spectra")
New Lottery Security Contracts
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Spectra Systems Corporation, a leader in machine-readable high speed banknote authentication and brand protection technologies, and gaming security software, is pleased to announce that it has been selected by a major European lottery to provide its Premier64 Integrity internal control system (ICS).  
Spectra has also renewed its contract with a long term US State lottery customer and will be converting this customer to its Premier64 Integrity ICS.
These contracts are for a base period of five and one half years and five years, respectively, both with optional renewals of up to three and five years, respectively. 
The aggregate value of the contracts is estimated at $1.1MM over the full term, assuming both renewal options are exercised, with additional potential of approximately $0.2MM of customized software development for new games based on averages of our previous eighteen domestic and international customers.
 
Dr. Nabil Lawandy, Chief Executive Officer, stated: "We are delighted to expand our ISO/IEC 27001:2013 certified operations in Europe as well as convert a long term customer to our Premier64 Integrity product.  These contracts further increase the long-term revenue stream from our government contracts segments of the business."
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer                                              Tel: +1 (0) 401 274 4700
 WH Ireland Limited
Chris Fielding, Managing Director, Corporate Finance                                   Tel: +44 (0) 20 7220 1650




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
CNTELLFFKDFZBBE