Wynyard signs $27 mln, three-year deal with national security bureau

Tuesday 5th January 2016

Wynyard Group, whose shareholders agreed to a $30 million private placement last month, has signed a three-year deal worth $27 million with an unnamed national security bureau.

The Auckland-based company will provide its crime analytics and investigations case management applications to help the bureau solve high consequence crime, security and deal with big data issues, Wynyard said in a statement. The company's software will be implemented with a systems integration partner, and is conditional on that partner completing specific commercial agreements with the end user.

"Identifying which threats present the greatest risk, ranking them and deploying resources to mitigate them is a daunting challenge for our customers," chief executive Craig Richardson said. "Law enforcement, border control and national security agencies deal with countless potential threats that Wynyard's products help manage and solve."

Last month Wynyard's shareholders passed a resolution allowing the company to raise at least $30 million from a number of strategic investors who'd shown interest in the firm during a roadshow across Asia, Australia and the US. Those funds will go towards expanding Wynyard's operations in the US and the Middle East, grow its sales and global partner network, invest in product research and development, and service working capital needs.

At that special meeting, Wynyard reiterated guidance for annual revenue of between $40 million and $45 million in calendar 2015.

The shares last traded at $1.84, having dropped 12 percent last year.

BusinessDesk.co.nz

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