TIDMNWT
RNS Number : 5614X
Newmark Security PLC
27 November 2017
Prior to publication in this announcement, the information
contained within this announcement was deemed by the Company to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 ("MAR").
27 November 2017
Newmark Security plc
("Newmark Security" or the "Company")
Grosvenor Technology wins major European Partner Contract
Newmark Security plc (AIM: NWT), a leading provider of
electronic and physical security systems, is pleased to announce
that Grosvenor Technology, its UK based security and attendance
solutions provider, has won a new contract with a leading European
workforce management provider.
Under the contract, Grosvenor Technology will provide a Linux
based OEM variant of its GT-10 workforce management terminal in
addition to a range of cloud based support services on a Software
as a Service (SaaS) basis. Grosvenor Technology will also provide
an OEM variant of its Sateon Advance Access Control Hardware, to
work with the partner's existing software platform.
The customer funded development work in the contract, itself
worth EUR190k, is being conducted in Newmark Security's current
fiscal year and revenues for the products and services are expected
to come on stream in the second quarter of 2018. The contract value
is expected to be around EUR3m over a 5 year period (being the
initial term of the contract).
Marie-Claire Dwek, CEO of Newmark Security, said:
"This contract is another example of our overarching strategy of
growing recurring revenues beginning to bear fruit. We have
invested significantly in developing both Sateon Advance Hardware
and the GT-10 terminal so it is particularly pleasing to see both
these products being adopted by this partner."
Andy Rainforth, Managing Director of Grosvenor Technology,
added:
"This contract is similar in complexity to several we are
currently negotiating as we increasingly have conversations with
major Human Capital Management solution providers seeking supply
partners whose differentiation strategies are aligned with their
own.
Our tailored 'custom build' approach allows our partners to add
greater value downstream, as we provide a hardware and support
solution to meet their specific needs. This approach makes
Grosvenor Technology unique in a market of generic and commoditised
hardware manufacturers.
In this case, the client preferred the industrial design of our
GT-10 Android based terminal, but recognised the advantages of the
hosted SaaS services that we provide within our Linux based
terminals' eco-system, so we are developing a hybrid solution
specific to their requirements.
We are also delivering an integration to allow our Access
Control hardware, which up to this point has only been available on
our proprietary Sateon platform, to communicate with their in-house
Access Control software."
ENDS
Contact:
Newmark Security plc
Marie-Claire Dwek, Chief Executive +44 (0) 207 355
Officer 0070
Allenby Capital Limited
Jeremy Porter / James Reeve / +44 (0) 20 3328
Liz Kirchner 5656
For more information:
www.grosvenortechnology.com
About Newmark Security plc
Newmark Security PLC is a leading provider of electronic and
physical security systems, which focus on personal security, the
safety of assets and reduced operational cost. Operating through
two established and wholly owned divisions, Grosvenor Technology
(Electronic) and Safetell (Physical Security), the Group listed on
AIM in 1997.
Grosvenor Technology provides security and attendance solutions
via its Access Control and Workforce Management lines of business.
Its Janus access control product was the world's first Windows(c)
based access control platform and has been installed in over 10,000
sites globally. Its current Sateon platform protects some of the
world's most prestigious organisations.
The Workforce Management division provides hardware, software
and support services to some of the world's leading vendors of
Human Capital Management solutions. Grosvenor Technology delivers
solutions tailored to an organisation's working practices in a bid
to increase security, reduce risk and lower operational costs. The
business is increasingly supplying the workforce management sector
on a 'Software as a Service' (SaaS) basis.
End Users are multi-sector and include global blue-chip
organisations, government departments, the banking sector, high
street retailers and higher education institutions. More
information can be found at www.grosvenortechnology.com .
Safetell is considered the authority on bespoke physical
security solutions, mitigating the latest threats in criminal and
terrorist activity. Robust products are combined with their service
excellence that adds value to the security solutions on offer.
An extensive range of ballistic, blast and attack resistant
materials are combined with over 30 years of accreditation, trust,
and client collaboration to deliver working environments and
security strategies that mitigate criminal and terrorist
threat.
These decades of experience help clients streamline
specification processes, minimise disruption during installation,
and extend operational life through a nation-wide maintenance
scheme, designed to reduce lifecycle cost and offer peace of
mind.
Safetell's customers range from leading blue-chip organisations
to single sites including banks and building societies, police
forces and the Post Office, local authorities and government
departments, forecourt retailers, and supermarket chains. More
information can be found at www.safetell.co.uk .
This information is provided by RNS
The company news service from the London Stock Exchange
END
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