Synectics Regulatory News (SNX)

29 November 2023

Synectics plc

("Synectics" or the "Company")

Contract Win

Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, announces that it has secured a contract worth £1.0 million with a major UK financial institution to deliver a multi-site deployment of Synergy, the Company's proprietary software platform (the "Contract").

The Contract, which will be completed in FY 2024, will see Synectics deliver an upgraded surveillance and security system in multiple locations across the financial institution's back-office estate in the UK, which includes data, cash, alarm receiving, and disaster recovery centres. As part of the Contract, Synectics will also undertake upgrades to the financial institution's existing on-site hardware, including the installation of its latest generation 4K cameras.

The Synergy software platform is highly configurable, enabling seamless integration to meet the exact requirements of every customer. The flexibility and reliability of the software ensure that it has applications for any large commercial operation, as well as for the public sector.

Synergy's 'dataveillance' engine combines feeds from CCTV cameras and many other systems across multiple sites into one simple interface, allowing operators to identify and respond promptly to anomalous events or potential threats. Analytics, including the integration of AI capabilities, have long been incorporated into the Synergy platform, and Synergy customers will benefit from the integration of future technological advances.

For this financial institution, the platform has been specifically configured to include not only the high spec video feed integrations, but also alarm management and advanced security workflows overseeing entry and exit from site which is imperative in the financial services space.

Paul Webb, Chief Executive Officer of Synectics, commented:

"Today's announcement is significant for Synectics, as it is its largest single contract to deploy its Synergy software to a commercial customer in the UK for many years.

"In the public sector, similar solutions using our technologies continue to be a real driver for enhancing and enabling multi-agency, multi-site collaboration.

"Our extensive experience and expertise mean that customers can rely on us to help ensure their systems can be configured to meet demanding internal procedures, as well as all external regulatory requirements."

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About Synectics plc

Synectics plc (AIM: SNX) is a leader in advanced security and surveillance systems that help protect people, property, communities, and assets around the world.

The Company's expertise is in providing solutions for specific markets where security and surveillance are critical to operations. These include gaming, oil and gas, public space, transportation, and critical infrastructure.

Synectics has deep industry experience in these markets and works closely with customers to deliver solutions that are tailored to meet their needs. Technical excellence, combined with decades of experience and long-standing customer relationships, provides fundamental differentiation from mainstream suppliers and makes the Company a stand out in its field.

Find out more at www.synecticsplc.com