Last checked at 10 Feb 2015 07:00
Spectra Systems Corporation
("Spectra Systems")
Spectra Systems executes five year, $1MM contract with Asian partner for tax stamp authentication
On 9 February 2015, Spectra Systems entered into a five year contract with a large Asian manufacturer of holograms and foils used in various applications, and particularly tax stamps. The contract specifies a minimum total revenue of $1MM evenly spread out over the five year period. The contract relates to both taggant and portable readers, part of the offerings which have grown out of the Inksure acquisition in 2014.
"This contract offers Spectra a new channel for the sale of portable authentication products in Asia and will form the basis of a new relationship which we believe can lead to revenues beyond the contractual minimums specified. We are optimistic that we can work with our Asian partner to customize the technology to attract additional business in this area" said Dr. Nabil Lawandy, Spectra's Chief Executive Officer.
Enquiries:
Spectra Systems Corporation
Dr. Nabil Lawandy, Chief Executive Officer Tel: +1 (0) 401 274 4700
WH Ireland Limited
Chris Fielding (Head of Corporate Finance) Tel: +44 (0) 20 7220 1650