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Richard Parris, Intercede Chief Executive, commented: "Intercede continues to supply its MyID software in support of homeland security initiatives around the world. Intercede MyID is already used to issue ICAO compliant documents for the government of Kuwait and this new contract reinforces our reputation for producing software capable of managing the issuance of biometric passports to citizens. This puts Intercede in an excellent position to benefit from the growing market in secure electronic travel documents."
Contract value exceeds $1m Released 4 October 2011 Intercede (London Stock Exchange AIM: IGP) announces that it has won an order for the supply of Intercede MyID Identity and Credential Management software licenses totaling in excess of US$1m. This contract is in support of the issuance of ICAO(1) compliant smart card travel documents. The country and partner cannot be named at this time. This contract will contribute more than $1m to current year sales as well as generating a long term annuity support and maintenance revenue stream. At a time of global recession and spending cuts, this new government related order underscores the resilience of Intercede's business model and places Intercede on track to meet full year market trading expectations.
http://www.investegate.co.uk/Article.aspx?id=201110040700164712P
CONT When we announced full year results for the year ended 31 March 2011, I stated that in a world where the threat of cyber attack grows by the day, organisations are ever more concerned to preserve the security of their information. The major trends of today - the ability of mobile devices and laptops to receive and transmit massive amounts of information, the rise of the mobile workforce and the spread of social networking - are at the heart of this concern. This is leading to an increasing need for stronger authentication and need for the information itself to be encrypted. This is presenting a potentially vast market opportunity for Intercede, as its MyID Identity and Credentials Management system is ideally suited to deliver the necessary security and identity assurance. Separately, citizen identity projects to support border security, benefits entitlement, voter registration and on-line commerce are emerging at an ever increasing rate. In response, Intercede has been involved with multiple partners during the last six months to submit commercial bids to governments around the world. In our experience lead times are long and government procurement cycles are unpredictable especially in the developing world. Nevertheless, Intercede expects to profit from this work in future periods. I also stated that in order to fully exploit this opportunity and meet the needs of a growing number of customers, Intercede would need to scale up our business capabilities. To that end, we have invested in research & development, sales & marketing and customer support. As a result, the number of people employed by Intercede has increased by 20% compared to the same period last year. Intercede continues to have cash balances in excess of £6 million cash and the order backlog and sales pipeline means that trading for the financial year as a whole remains in line with current expectations."
At the Company's Annual General Meeting, Richard Parris, Chairman and Chief Executive, will make the following statement: "I am pleased to report satisfactory trading during the first half of the current financial year, together with a pipeline of future business opportunities that continues to be robust. There have been a number of commercial successes and industry milestones achieved in the period, including the following: - Implementation of large scale corporate identity card projects in ANZ Bank, Booz Allen Hamilton, BASF, Boeing, HealthSmart Australia, Lockheed Martin and Swedbank; - Delivery of services to support major MyID system upgrades in US Federal Aviation Authority, Kuwait Public Authority for Civil Information, Road Safety Authority Ireland; - Deployment of MyID to issue ID cards to members of the newly elected Portuguese Parliament; - Increasing collaboration with Microsoft in the US and the first confirmed sale to a corporate customer of the Intercede MyID connector for Forefront Identity Manager; - Teaming with Atos, Verisec, the Post Office and Thales to win the London Identity Provider framework contract; - Collaboration with major systems integrators on multiple tender responses for large scale US Federal identity programs requiring PIV and PIV-I solutions and numerous national ID programs around the world; - The development of a new technology to enable the over-the-air (OTA) provisioning of digital certificates to mobile devices using MyID. This technology will be previewed at SmartEvent in Nice on 23 September; - The continuous improvement of the core MyID platform including the release of MyID v8 Enterprise SP2 and MyID v9 PIV Service Pack 1; - The award of ISO9001 and TickIT certification to Intercede, as announced on 14 September 2011.
http://www.investegate.co.uk/Article.aspx?id=201109210700126189O
In an update following the firm's Annual General Meeting, Intercede Group (IGP) said it was seeing satisfactory trading in the first half of the financial year, with the pipeline of future business opportunities looking strong. The IT security management business has recently seen a number of commercial successes, including the deployment of ID cards to members of the newly elected Portuguese government and security upgrades for the US Federal Aviation Authority. Trading for the financial year as a whole remains in line with expectations. Intercede shares jumped 3p to 60p.
http://www.investegate.co.uk/Article.aspx?id=201010070754319916T Thats an intersting little RNS
Still climbing after yesterdays gains. Pity the spread on this share is so wide. Sell at 33p and buy at 37p. Bit of a joke.
This looks like a really good company to invest in. Cash in the bank, good market. Identify verification needs will only increase in future. Is there any reason NOT to buy this share?
You wont mind if we copy all our posts to your sites especially intercede
This one is starting to move north
Excellent progress being made to 30th Sept. Cash balances at half year end stand at £1.6Mns; Sales during the period are 20% higher year on year. Further progress will be maintained