Intercede wins $1m contract

4th Oct 2011 07:55

Identity and credential management software provider Intercede has won a software contract for an order worth at least $1m. The contract will supply the company's MyID identity and credential management software licenses. The company said: "This contract will contribute more than $1m to current year sales as well as generating a long term annuity support and maintenance revenue stream. "At a time of global recession and spending cuts, this new government related order underscores the resilience of Intercede's business model and places Intercede on track to meet full year market trading expectations." The firm is unable to name the country and partner cannot be named at this time.Richard Parris, Intercede chief executive, commented: "Intercede continues to supply its MyID software in support of homeland security initiatives around the world. "Intercede MyID is already used to issue ICAO compliant documents for the government of Kuwait and this new contract reinforces our reputation for producing software capable of managing the issuance of biometric passports to citizens. This puts Intercede in an excellent position to benefit from acthe growing market in secure electronic travel documents."NR