Intercede Group PLC Contract (1917Y)
December 04 2017 - 1:00AM
UK Regulatory
TIDMIGP
RNS Number : 1917Y
Intercede Group PLC
04 December 2017
4 December 2017
INTERCEDE GROUP plc
('Intercede', the 'Company' or the 'Group')
New Contract Award
Intercede, the software and service company specialising in
identity, credential management and secure mobility, announces it
has signed a contract with a UK Government Ministerial
department.
Under this agreement, Intercede will supply services to enable
the customer to embed the MyID product for employees into its
network infrastructure. This will be used to provide digital
identities to staff involved in international collaboration.
Financially, the new contract will generate revenue for the Group
of around GBP250,000 in the current financial year and potentially
up to GBP500,000 in the following year.
Intercede's MyID will enable this customer to eliminate a
reliance on the use of potentially insecure passwords for secure
authentication. In doing so, the department will become more
resistant to social engineering and other cyber-attacks based on
compromising employee login details. This makes it easier for the
UK Government to meet its international obligations for secure
partnership with other governments around the world.
Intercede has been supplying secure solutions to UK government
agencies for more than 15 years.
Richard Parris, Chairman & Chief Executive of Intercede,
said:
"This contract was secured following a competitive tender
process. Our success demonstrates that Intercede's MyID product and
services remains the first choice for security aware customers
seeking to replace password-based authentication with strong
digital credentials. This deployment is similar to solutions
previously sold to the Australian, Canadian and US
governments."
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558 111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
finnCap Tel. +44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Simon Hicks, Corporate Finance
Capital Access Group Tel. +44 (0)20 3763 3400
Scott Fulton, Media
Ed Welsby, Investors
About Intercede
Intercede is a cybersecurity company specialising in digital
identities, derived credentials and access control, enabling
digital trust in a mobile world.
Headquartered in the UK, with offices in the US, we believe in a
connected world in which people and technology are free to exchange
information securely, and complex insecure passwords become a thing
of the past.
Our vision is to make the highest levels of cybersecurity
available to organizations and consumers alike, solving complexity
and scalability issues by managing high volumes of digital
credentials.
We have been delivering trusted solutions to high profile
customers for over 20 years. Our team of experts has deployed
millions of identities to governments, most of the largest
aerospace and defence corporations, and major financial services
and healthcare organizations, as well as leading
telecommunications, cloud services and information technology
firms, providing industry-leading employee and customer credential
management systems.
For more information visit: www.intercede.com
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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