DIGITAL BARRIERS ANNOUNCES $8.0 MILLION US GOVERNMENT CONTRACT AWARDS
London, UK – 20 April, 2017 – Digital Barriers, the specialist provider of visually intelligent solutions to the global surveillance, security and safety markets, is pleased to announce the award of a contract with a major US federal law enforcement agency and existing customer valued at $7.2 million. This contract is one of several that were in the final stages of procurement at the time of the Group's trading update on 24 March.
The contract is for the supply of specialist surveillance equipment from one of the Group's strategic partners, which this agency uses alongside its installed base of Digital Barriers technology. The Group is currently working with this strategic partner to explore the potential for further joint product collaboration that would build upon their combined installed bases.
This latest contract award follows the signature of several smaller awards with other US government customers this month, valued in combination at $0.8 million. These contracts are all expected to be delivered in full in the current financial year. In total, the Group now has approximately £15 million in contracted sales already secured for delivery in the current financial year.
Zak Doffman, Chief Executive Officer of Digital Barriers, commented: "The US remains our most important strategic market, and this latest set of contract awards shows that we continue to make good progress, albeit with the challenge of the actual timing of the awards. We now have a very strong contracted backlog position for the current financial year, with approximately £15 million already secured. We continue to focus all of our efforts on the pace and tempo of further sales closures."