Digital Barriers plc £1.5 million in new contract awards (0532Z)

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RNS Number : 0532Z

Digital Barriers plc

08 December 2014

8 December 2014

Digital Barriers plc

- GBP1.5 million in new contract awards -

The Board (the "Board") of Digital Barriers plc (the "Group"), the specialist provider of advanced surveillance technologies to the security and defence sectors, is pleased to announce three contracts today that together should generate approximately GBP1.5 million of revenue in this financial year. Additionally, the Group's SafeZone-edge video analytics software has received notable industry recognition, giving confidence of further customer success.

TVI Surveillance Technology Contract Award

The Group has secured a contract with a major customer in the Asia Pacific region to supply its TVI video surveillance technology as an onboard vehicle solution into a national level police programme. The initial contract, valued at approximately GBP0.75 million, is expected to be fulfilled during this financial year and lead to material additional sales with the same customer in future years.

-- The Group's TVI surveillance technology delivers real-time video surveillance significantly more efficiently than competing technologies, making it ideally suited to streaming live real-time video across cellular networks from moving vehicles.

-- The Group offers a range of packaged TVI solutions for different applications, including vehicles, and these are now generating significant customer traction around the world.

-- The Group recently launched a wider suite of TVI products, including those for high-definition video, IP video and software that runs on third-party devices such as industrial PCs, smartphones and tablets.

-- The Group has also announced that its Cloud Video Platform is now under development, which will open up new markets for TVI technology.

Integrated Surveillance Platform Contract Award

The Board is also pleased to announce the Group's first contract for its Integrated Surveillance Platform with a commercial organisation for the protection of remote critical assets. This initial contract, which will generate around GBP0.18 million of revenue, follows a series of trials and is expected to lead to a much wider deployment over the coming months.

UK Services Framework Contract Award

The Board is also pleased to announce that the Group's UK Services division has signed a new framework contract with a customer government department for a significant programme of work, approximately GBP0.6 million of which should be delivered in this financial year with significant potential to grow in next financial year.

SafeZone-edge Industry Recognition

Finally, the Board is delighted to announce that its class-leading SafeZone-edge video analytics solution was the winner of Intruder Alarm or Exterior Deterrent Product of the Year at IFSEC's Security & Fire Excellence Awards 2014. SafeZone-edge launched in April 2014 as an alternative to the 'complex and costly' or 'simple and unreliable' offerings that have characterised the video-based intrusion detection market. The Group's edge-intelligent solution was designed for use on cameras and encoders from Axis, one of the world's leading camera manufacturers, providing organisations with compelling options for automated security. The IFSEC judging panel cited the superior performance, ease of use and market moving pricing of the product, as reasons for the SafeZone-edge quality over a strong field of new products to the market.

Zak Doffman, Chief Executive Officer of Digital Barriers commented:

"The three contracts announced today illustrate our expanding customer base in the UK and internationally. TVI is ideally suited for law enforcement agencies around the world, and the technology has proven itself time and again as the undisputed class-leader in delivering live video across limited or variable bandwidths, such as cellular networks. Meanwhile, as we continue to progress customer opportunities with major government agencies for our Integrated Surveillance Platform, we have also opened up opportunities with major commercial organisations with critical assets to protect, particularly in the oil, gas, energy and transportation markets. Combined with growth in our UK Services division, this all serves as evidence of strong progress for Digital Barriers."

For further information, please contact:

 
 Digital Barriers plc     Tel: 020 7940 4740 
 Zak Doffman, Chief 
  Executive Officer 
 Sharon Cooper, Finance 
  Director 
 
 Investec Investment      Tel: 020 7597 5970 
  Banking 
 Andrew Pinder/ Dominic 
  Emery 
 
 
 FTI Consulting           Tel: 020 7831 3113 
 Edward Bridges/ Matt 
  Dixon/ Rob Mindell

About Digital Barriers

Digital Barriers provides advanced surveillance technologies to the international homeland security and defence markets, specialising in 'edge-intelligent' solutions that are designed for remote, hostile or complex operating environments. We work with governments, multinational corporations and system integrators in the defence, law enforcement, critical infrastructure, transportation and natural resources sectors. Our surveillance technologies have been successfully proven on some of the most demanding operational and environmental deployments around the world.

www.digitalbarriers.com

This information is provided by RNS

The company news service from the London Stock Exchange

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