Intercede announces that it has won an order for the supply of Intercede MyID Identity and Credential Management software licenses totaling in excess of US$1m. This contract is in support of the issuance of ICAO (the International Civil Aviation Organization (ICAO) defines the standards for machine readable official travel documents (MRTDs) used for passports, e-passports and smart card based ID cards containing electronic and biometric information.) compliant smart card travel documents. The country and partner cannot be named at this time.
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.
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 the growing market in secure electronic travel documents."