Wynyard signs $2.8 mln three-year deal with state policing agency

Wednesday 10th February 2016

Wynyard Group, whose shareholders will vote next week on giving the board more freedom to issue shares, has signed a $2.8 million deal to provide its intelligence software services to a state policing agency.

The three-year contract is Wynyard's first in the country, which wasn't identified, providing the Auckland-based firm's advanced crime analytics software, the company said in a statement.

The policing agency will use the software "to extend its intelligence and investigations capabilities to counter terrorism and organised crime," Wynyard said.

Last month the software developer signed a $27 million deal with an unidentified national security bureau, the biggest in a series of contracts Wynyard has signed in recent months. The company shifted its focus to target large government contracts in 2014, which it said made it more difficult to predict when forecast revenue goals would be met.

In December, Wynyard reaffirmed guidance for annual revenue of between $40 million and $45 million in calendar 2015.

The company is holding a special meeting next week asking shareholders to ratify a placement last year that would effectively let the board sell about 24.7 million shares without a $2 price floor put in place by an earlier special meeting held in December.

Wynyard shareholders agreed to let the board sell 15 million shares at a price of at least $2 at a special meeting in December after the security software developer drummed up investor interest during a roadshow.

The shares advanced 0.7 percent to $1.41, and have dropped 24 percent this year.

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