Newmark Security PLC New US Customers (4298V)
August 07 2020 - 2:00AM
UK Regulatory
TIDMNWT
RNS Number : 4298V
Newmark Security PLC
07 August 2020
7 August 2020
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Newmark Security plc
("Newmark", the "Company" or the "Group")
New US Customers
Newmark Security plc (AIM: NWT), a leading provider of products
and services in the security and data sectors, is pleased to
announce two new customer wins in its Human Capital Management
("HCM") division in the United States, where it trades as GT
Clocks.
The Company has onboarded a new client, a HCM software company
which provides HR and Payroll solutions to over 30,000 businesses
of all sizes, across many sectors, onto its GT-4 timeclock. The
GT-4 is the successor to the popular IT31, which was the Company's
previous mid-tier hardware offering. The contract is for a period
of three years, with a minimum contract value in excess of $1m over
this period.
A senior spokesperson for the HCM software company said "We are
delighted to partner with GT Clocks for our next generation of
timeclocks. We depend on these devices to be reliable in some harsh
environments yet have a requirement for low lifetime costs, a
combination of needs we have found hard to satisfy. In GT Clocks we
have found a supplier that can not only meet these demands, but
with a feature rich and super-fast device."
In a separate customer win, one of the Company's existing 'full
suite HCM solution' partners has entered into an agreement to
supply the Company's flagship device, the GT-10, to one of the
largest retailers in the US. Whilst not contractually committed,
the Directors of Newmark estimate that this agreement could
potentially be worth up to $3.8m to the Company over the next 2-3
years and could lead to further projects with the same client.
Marie-Claire Dwek, CEO of Newmark Security said "We are
delighted to see our investment into creating our next-generation
timeclocks being repaid with these customer wins. The US has been a
significant part of our growth story in recent years and we expect
that trend to continue."
Andy Rainforth, President of GT Clocks , added, "The new GT-4 is
faster, is more performant and critically for many operating in the
mid-tier part of the HCM market, is a lower cost device than its
predecessor. We genuinely believe it represents the best value
hardware in this market sector."
For further information:
Newmark Security plc
Marie-Claire Dwek, Chief Executive Tel: +44 (0) 20 7355
Officer 0070
Graham Feltham, Group Finance www.newmarksecurity.com
Director
Allenby Capital Limited Tel: +44 (0) 20 3328
(Nominated Adviser and Broker) 5656
James Reeve / Liz Kirchner (Corporate
Finance)
Amrit Nahal (Sales & Broking)
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END
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