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Synectics shares up on GBP800,000 contract with UK utility provider

17th Apr 2024 10:01

(Alliance News) - Synectics PLC on Wednesday said it has won a GBP800,000 contract with a new customer.

Shares in the Sheffield, England-based security and surveillance systems company were up 4.0% to 192.45 pence each in London on Wednesday morning.

Synectics left the company unnamed, but called it a "major UK utility provider".

Synectics said the contract is to deliver a multi-site deployment of its proprietary software platform, Synergy.

"The contract, which will be deployed in the company's current financial year, will see Synergy rolled out in the UK utility provider's main command and control centre, centralising feeds from numerous disparate locations throughout the network into one simple interface. Once installed, operators will be able to detect and respond promptly to potential threats from across the network with seamless efficiency," it explained.

Chief Executive Paul Webb said: "We are delighted to have secured this new contract. The flexibility of our software ensures that we can deliver a system that is tailored to each customer, enabling us to deliver sector-specific solutions."

By Sophie Rose, Alliance News senior reporter

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