7th Aug 2020 10:50
Newmark Security PLC - London-based electronic and physical security systems company - Wins two new contracts in its Human Capital Management division in US, where it trades as GT Clocks.
First contract is with an HCM software company which provides HR and payroll solutions to over 30,000 businesses. The three-year contract is for the GT-4 timeclock - which is the successor to Newmark's mid-tier hardware offering IT31 - and has a minimum contract value of over USD1 million.
Newmark adds that one of its existing partners has entered into an agreement to supply the GT-10 to one of the largest retailers in the US, stating that it expects the agreement to be worth up to USD3.8 million over the next two to three years.
"We are delighted to see our investment into creating our next-generation timeclocks being repaid with these customer wins. The US has been a significant part of our growth story in recent years and we expect that trend to continue," said Chief Executive Marie-Claire Dwek.
Current stock price: 1.44 pence
Year-to-date change: down 2.7%
By Ife Taiwo; [email protected]
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