Digital Barriers plc US Contract Awards (2872K)
September 20 2016 - 2:01AM
UK Regulatory
TIDMDGB
RNS Number : 2872K
Digital Barriers plc
20 September 2016
20 September 2016
Digital Barriers plc
("Digital Barriers" or the "Group")
US Contract Awards
$4.6 million contract awards and additional $3.8 million option
with US Federal Agency
Digital Barriers plc (the "Group"), the specialist provider of
visually intelligent solutions to the global surveillance, security
and safety markets, is pleased to announce that it has secured two
contracts for its EdgeVis Live advanced wireless surveillance
technology. The contracts have been secured with a flagship US
Federal law enforcement agency, with one valued at $3.8 million and
the second at $0.8 million. Revenue from both contracts is expected
to be fully recognised in this financial year and the larger of the
two contracts includes an option for an additional $3.8 million
order that can be exercised by the customer within twelve
months.
The Group's EdgeVis Live surveillance technology offers secure
distribution of real-time video from anywhere to anywhere,
featuring end-to-end security, real world resilience and network
optimisation that can stream usable live video using 60% less
bandwidth than standard technologies. EdgeVis Live delivers
significant capability benefits and material cost savings over
competing technologies, and has now been sold into many of the
world's leading law enforcement and defence agencies.
Zak Doffman, Chief Executive Officer of Digital Barriers
commented:
"The scale of these contract awards at $4.6 million, along with
last week's $2.2 million award with a different US federal agency,
clearly demonstrates the significant technical lead that EdgeVis
Live enjoys over its competition. It also underscores yet again the
strategic value to us of the Brimtek acquisition, which has
enhanced our market position and credibility across the US law
enforcement landscape. EdgeVis Live continues to build market share
across flagship US agencies, providing us with a strong platform
for material future growth."
For further information
please contact:
Digital Barriers plc +44 (0)20 3553 5888
Zak Doffman, Chief Executive
Officer
Sharon Cooper, Chief Financial
Officer
Investec Investment Banking +44 (0)20 7597 5970
Andrew Pinder / Patrick
Robb
FTI Consulting LLP +44 (0)20 3727 1000
Edward Bridges / Matt Dixon
About Digital Barriers:
Digital Barriers provides visually intelligent solutions to the
global surveillance, security and safety markets. We deliver
zero-latency streaming and analysis of secure video and related
intelligence over wireless networks, including cellular, satellite,
IP mesh and cloud, utilising significantly less bandwidth than
standard technologies.
Our rapidly-installed fixed and mobile solutions for covert,
remote and wide-area deployments, as well as vehicle and body-worn
applications, have been sold into more than fifty countries, and
have been proven in some of the world's most demanding operational
environments. We also provide advanced video content analysis and
body scanning to identify safety concerns and threats in
real-time.
www.digitalbarriers.com
This information is provided by RNS
The company news service from the London Stock Exchange
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