Intercede secures contract with US Federal Agency

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Intercede Group

166.00p

12:35 24/12/24

0.61%

1.00p

Software firm Intercede has successfully won a competitive bid to supply an unnamed independent US Federal Agency with access to its MyID credential management software.

Intercede said on Wednesday that a purchase order had been received for an initial 20,000 devices, plus associated professional services and support and maintenance, totalling $500,000, the majority of which will be recognised as revenue in the current financial year.

The AIM-listed firm highlighted that the deployment had the potential to rollout to "substantially more devices" over time.

Chief executive Klaas van der Leest said: "I am delighted that this leading Federal Agency has chosen MyID to meet their mobile security needs, demonstrating the ongoing relevance of MyID to provide the highest levels of security on a wide range of modern devices, a cornerstone of digital transformation and zero trust architectures."

As of 1000 GMT, Intercede shares were up 4.83% at 76.0p.