10th Feb 2015 07:59
LONDON (Alliance News) - Spectra Systems Corp Tuesday said its has won a five-year contract with a "large" unnamed Asian holograms and foils manufacturer for tax stamp authentication, a contract worth at least USD1 million in revenue in total.
The integrated materials, systems and software manufacturer said the contract specifies a minimum total revenue of USD1 million, evenly spread out over the five-year period. It said the contract relates to both taggant and portable readers, part of the offerings which have grown out of the Inksure acquisition, which it acquired in 2014.
"This contract offers Spectra a new channel for the sale of portable authentication products in Asia and will form the basis of a new relationship which we believe can lead to revenues beyond the contractual minimums specified," said Chief Executive Nabil Lawandy in a statement.
"We are optimistic that we can work with our Asian partner to customise the technology to attract additional business in this area," he added.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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