Intercede secures multiple contract wins, renewals

30th Sep 2024 09:48

(Sharecast News) - Cybersecurity software company Intercede announced on Monday that it had secured further contract orders and renewals worth a total of more than $1.9m.

Intercede said it had won a large MFA renewal for a "significant educational establishment" in the Middle East with an associated enhanced subscription licence order of 2,000 to take the full deployment to 19,000, altogether worth roughly $150,00 per year, as well as a support and maintenance renewal from a large US aerospace and defence manufacturer totalling approximately $540,000 and a Department of State renewal of support and maintenance contract for FY24, totalling roughly $400,000, and a separate professional services order of circa $240,000.

As far as the new contracts were concerned, the AIM-listed group said it had won an enhanced professional services order, of more than $100,000, to assist in ongoing operational support for a prominent Federal Transportation Agency, and a major development order worth $500,000 from a systems integrator for a new government end client.

"These orders and renewals, received via our partners, further underpin the group's revenue for FY25 and contracted revenue backlog for FY26," added Intercede.

As of 1125 BST, Intercede shares were up 3.24% at 205.45p.

Reporting by Iain Gilbert at Sharecast.com