Intercede (AIM: IGP), a producer of Identity and Credential Management Systems (IDCMS) software, announced that it has won two separate contracts to supply its MyID(R) product and associated professional services in support of two national identity programmes.
The first contract is with a Middle East country. Once implemented, this system will support the issuance and life cycle management of national identity cards to the country's citizens.The second contract is in support of an undisclosed government customer in a different country.
Under the terms of these contracts with local integrators in the respective countries, Intercede has received initial aggregate payments of $0.3m and purchase orders for a further $1m. An additional $0.5m of sales revenue is anticipated from these projects during Intercede's current financial year, with further revenues expected in future periods.
"Intercede is pleased to have secured these important national identity card projects with strategically important nation states", said Richard Parris, Chairman and Chief Executive. "These awards demonstrate the scalability, security and international appropriateness of our solutions. Our expansion into the Middle East and into the wider national identity market provides Intercede with financial comfort and resilience at a time of macroeconomic uncertainty."
Further announcements will be made on both these projects when permission for disclosure has been granted by the government customers concerned.