Newmark Security Regulatory News (NWT)

7 August 2020

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Newmark Security plc

("Newmark", the "Company" or the "Group")

New US Customers

Newmark Security plc (AIM: NWT), a leading provider of products and services in the security and data sectors, is pleased to announce two new customer wins in its Human Capital Management ("HCM") division in the United States, where it trades as GT Clocks. 

The Company has onboarded a new client, a HCM software company which provides HR and Payroll solutions to over 30,000 businesses of all sizes, across many sectors, onto its GT-4 timeclock. The GT-4 is the successor to the popular IT31, which was the Company's previous mid-tier hardware offering. The contract is for a period of three years, with a minimum contract value in excess of $1m over this period.

A senior spokesperson for the HCM software company said "We are delighted to partner with GT Clocks for our next generation of timeclocks. We depend on these devices to be reliable in some harsh environments yet have a requirement for low lifetime costs, a combination of needs we have found hard to satisfy. In GT Clocks we have found a supplier that can not only meet these demands, but with a feature rich and super-fast device."

In a separate customer win, one of the Company's existing 'full suite HCM solution' partners has entered into an agreement to supply the Company's flagship device, the GT-10, to one of the largest retailers in the US. Whilst not contractually committed, the Directors of Newmark estimate that this agreement could potentially be worth up to $3.8m to the Company over the next 2-3 years and could lead to further projects with the same client. 

Marie-Claire Dwek, CEO of Newmark Security said "We are delighted to see our investment into creating our next-generation timeclocks being repaid with these customer wins. The US has been a significant part of our growth story in recent years and we expect that trend to continue."

Andy Rainforth, President of GT Clocks, added, "The new GT-4 is faster, is more performant and critically for many operating in the mid-tier part of the HCM market, is a lower cost device than its predecessor. We genuinely believe it represents the best value hardware in this market sector." 

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