Wynyard signs three-year counter-terrorism contract
Advanced crime analytics and investigations case management applications tp be implemented.
Security software developer Wynyard Group [NZX: WYN] has signed a three-year contract worth $4.5 million with a national security agency to use its software for counter-terrorism and protect high value assets.
The company has not named the security agency.
Wynyard Group's advanced crime analytics and investigations case management applications will be implemented by a multi-national systems integration partner for a minimum contract value of $4.5 million over the initial term, the company says. In May, the company signalled an expectation of wrapping up "a significant national security solution" for delivery in the second half of this year.
"Agencies are investing in our advanced analytics capability to rapidly process and analyse structured and unstructured big data from many different sources to surface actionable intelligence so they can target investigations on countering terrorism and preventing high consequence crime," chief executive Craig Richardson says.
"Governments around the world are increasingly concerned by organised crime, new generation extremist and never-before-seen cyber threats which continue to grow in frequency and severity."
Yesterday, Wynyard announced plans to hold a special shareholders' meeting where it will seek approval to raise $30 million from institutional and high-net investors, selling shares at $2 apiece or higher, a 45% premium to the trading price before the announcement.
The shares jumped 20% yesterday, and were up a further 6.6% today, recently trading at $1.77.
Wynyard yesterday said the current share price didn't reflect the company's value, and was driven by a thinly-traded market.
(BusinessDesk)
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Paul McBeth
Fri, 13 Nov 2015
Fri, 13 Nov 2015
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Wynyard signs three-year counter-terrorism contract
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