Digital Barriers plc GBP1.5m TVI and ISP contract awards (9057F)
February 26 2015 - 2:04AM
UK Regulatory
TIDMDGB
RNS Number : 9057F
Digital Barriers plc
26 February 2015
26 February 2015
Digital Barriers plc
("Digital Barriers")
GBP1.5m TVI and ISP contract awards
- Largest ever sale of TVI video surveillance technology to a
commercial organisation -
- Includes option for further GBP3.5 million over next two years
-
- Additional GBP0.5m follow-on ISP contract secured with leading
energy company -
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 that it has secured a
contract to supply its TVI video surveillance technology to a new
and significant commercial customer. This customer, a leading
organisation within the UK industrial services sector, will use TVI
to support both operational effectiveness and site security. The
contract, which carries an initial value of approximately GBP1.0m,
includes an option for a further GBP3.5m of TVI solutions to be
purchased over two years from next financial year. The contract and
the option also include annuity license payments for each TVI video
stream deployed.
The Group's TVI surveillance technology is the class-leading
solution for streaming real-time live video across limited or
constrained bandwidths, including cellular, satellite and IP radio
networks. This offers significant capability benefits over
competing technologies, as well as material cost savings given its
exceptionally efficient use of available bandwidth. TVI has already
been sold into more than thirty countries, and counts some of the
most prominent defence and security agencies in the world as its
customers, as well as an increasing number of commercial
organisations. This is the first major sale of TVI into a
commercial customer and represents the Group's first sale into the
industrial services sector.
The Group is also pleased to announce that it has secured a
follow-on contract with a leading international energy company to
supply its Integrated Surveillance Platform ("ISP") for the
protection of critical facilities. This follows an initial contract
with the same customer, announced by the Group on 8 December 2014,
which is now being delivered. The new contract, valued at GBP0.5m,
represents a material scale-up of this relationship just three
months after it was first formed.
The Group's ISP solution provides real-time video surveillance
and intrusion alerts for remote and inaccessible locations. It
combines with existing infrastructure and surveillance assets to
provide maximum value for money and use of legacy systems. ISP was
selected here for its ability to improve performance whilst also
eradicating costly and disruptive false alarms.
Zak Doffman, Chief Executive Officer of Digital Barriers
commented:
"These important contract wins within our UK/Europe region
follow last week's announcement of an initial sale into one of
Europe's leading rail operators. Securing relationships with
flagship government and commercial organisations remains key to our
strategy, and we now have class-leading surveillance solutions to
address their most difficult security challenges.
We are particularly encouraged to see these successes come
through so soon after the recent investments we have made in our
regional sales teams. These wins can be attributed to the new
leadership of our UK/Europe sales team, giving us confidence that
similar changes made to the management of our US and Middle
East/Africa regions will materially support our international sales
expansion."
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 3727 1000
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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