LONDON (Alliance News) - Spectra Systems Corporation said Thursday it has gained approval from an unnamed central bank to begin shipping a suite of upgraded sensors in an USD8 million deal.
The deal will see Spectra manufacture and deliver upgraded sensors to a G8 central bank client, commencing this month, following extensive sensor testing, vendor qualification investigations, facility checks and a review of the firms' manufacturing processes.
The upgraded tools are expected to support the current generation consumable to the central bank for at least the next decade, said Spectra, adding that the deal is expected to result in USD8 million of revenue during the 2013 to 2014 delivery schedule.
Spectra's sensors have been selected by the central bank for the second time, which the firms' Chief Executive Officer, Nabil Lawandy, said will allow the company to deliver the next generation of technology to the same bank in the future and is, "proof of Spectra's reputation and potential for delivering next generation technology to this and other customers in the coming years."
Shares in the technology firm are trading up 6.12% at 26 pence per share Thursday.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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Spectra (unres) (SPSY)