Digital Barriers plc $8.0 million US Government Contract Awards (7952C)

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RNS Number : 7952C

Digital Barriers plc

20 April 2017

RNS

20 April 2017

Digital Barriers plc

("Digital Barriers" or the "Group")

$8.0 million US Government Contract Awards

Digital Barriers (AIM: DGB), 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 GBP15 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 GBP15 million already secured. We continue to focus all of our efforts on the pace and tempo of further sales closures."

For further information, please contact:

 
 Digital Barriers plc             Tel: [phone] 
 Zak Doffman, Chief Executive 
  Officer 
 Sharon Cooper, Chief Financial 
  Officer 
 
 Investec Investment Banking      Tel: [phone] 
 Andrew Pinder/ Dominic 
  Emery / 
  Patrick Robb 
 
 
 FTI Consulting                   Tel: [phone] 
 Edward Bridges/ Matt Dixon/ 
  Harry Staight 
 
 

About Digital Barriers

Digital Barriers provides visually intelligent solutions to the global surveillance, security and safety markets. We deliver zero-latency streaming and analysis of secure video and related intelligence over wireless networks, including cellular, satellite, IP mesh and cloud, utilising significantly less bandwidth than standard technologies. Our rapidly-installed fixed and mobile solutions for covert, remote and wide-area deployments, as well as vehicle and body-worn applications, have been sold into more than fifty countries, and have been proven in some of the world's most demanding operational environments. We also provide advanced video content analysis and body scanning to identify safety concerns and threats in real-time.

www.digitalbarriers.com

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April 20, 2017 02:00 ET (06:00 GMT)