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 €190k, 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 €3m 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 Officer |
+44 (0) 207 355 0070 |
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Allenby Capital Limited Jeremy Porter / James Reeve / Liz Kirchner |
+44 (0) 20 3328 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© 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 .
