Intercede Group Wins MyID Platform Contract With US Defence Contractor

LONDON (Alliance News) - Digital identity and security firm Intercede Group PLC said Tuesday it ...

Alliance News 9 May, 2017 | 10:05AM
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LONDON (Alliance News) - Digital identity and security firm Intercede Group PLC said Tuesday it has won a contract for its MyID platform with a "major US aerospace and defence contractor".

Intercede said the contract is expected to generate approximately USD1.0 million in revenue over the next five years, with the platform used to manage digital credentials for more than 100,000 entities.

Shares in Intercede were up 8.4% at 56.91 pence Tuesday.

"The most recent award supports our view that the provision of digital trust is increasingly required by a range of critical industries where legacy password authentication systems will be replaced by digital provision," said Richard Parris, chairman and chief executive of Intercede.

"Led by the government, emerging US best practice is expanding the addressable market place for the MyID platform into critical industries such as healthcare in addition to our core aerospace and defence base," added Parris.

By Adam Clark;

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Intercede Group PLC 74.00 GBX -1.33 -

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