14th Sep 2016 07:39
LONDON (Alliance News) - Digital Barriers PLC on Wednesday said it has won a USD2.2 million contract for its EdgeVis Live advanced wireless surveillance technology with an undisclosed US Federal law enforcement agency.
The revenue associated with the contract is expected to be fully recognised in its current financial year to March 2017, and Digital Barriers cited its Brimtek business, acquired in March, as having playing an important role in securing the contract.
"The size and nature of this contract, which is expected to lead to significant follow-on awards is testament to the strong position we now have in the US following the acquisition of Brimtek earlier this year. Selling Digital Barriers' technology using Brimtek's strength and reach in the US was the central strategic rationale behind the deal," said Chief Executive Officer Zak Doffman in a statement.
The latest agreement follows another for USD5.9 million announced in March, also with an unnamed US Federal law enforcement agency and signed by Digital Barriers' Brimtex subsidiary.
Shares in Digital Barriers were up 3.5% at 47.60 pence Wednesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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