Intercede secures contract with UK government ministerial department

AIM-listed software and service company Intercede has signed a contract with a UK government ministerial department that will generate revenue of around £250,000 in the current financial year and up to £500,000 in the following year.

Intercede will supply services to enable the customer to embed its MyID product for employees into its network infrastructure. This will be used to provide digital identities to staff involved in international collaboration.

MyID will enable this customer to eliminate a reliance on the use of potentially insecure passwords for secure authentication. In doing so, the department will become more resistant to social engineering and other cyber-attacks based on compromising employee login details. This makes it easier for the UK government to meet its international obligations for secure partnership with other governments around the world.

Chairman and chief executive Richard Parris said: "This contract was secured following a competitive tender process. Our success demonstrates that Intercede's MyID product and services remains the first choice for security aware customers seeking to replace password-based authentication with strong digital credentials. This deployment is similar to solutions previously sold to the Australian, Canadian and US governments."

At 1034 GMT, the shares were up 5.1% to 31p.