REG - Synectics PLC - US$10 million contract win

SynecticsAnnouncement

18/06/2024 07:00

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RNS Number : 7789S  Synectics PLC  18 June 2024

18 June 2024

 

Synectics plc

("Synectics" or the "Company")

 

US$10 million contract win

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance
systems, announces that it has been awarded a contract valued at approximately
US$10 million (the "Contract") to upgrade and expand the surveillance system
at a major gaming resort in South-East Asia (the "Customer"), one of the most
successful and highest profile gaming resorts in the world. Delivery of the
Contract is anticipated to commence late in the Company's current financial
year ending 30 November 2024 with completion expected by the end of the
financial year ending 30 November 2025.

 

The Customer has been using Synergy, the Company's proprietary software
platform, since 2014 and the Contract will expand and upgrade the Customer's
existing system to the latest version of Synergy.

 

This is a complex project with the Customer's system remaining in operation
24/7 throughout the upgrade, and the Company is currently developing a
detailed programme with the Customer.

 

Paul Webb, Chief Executive Officer of Synectics, commented:

"We are delighted to have secured this contract which reflects the significant
market opportunity that exists in the casino and leisure sector in Asia.

 

The strength of Synergy's capabilities and the quality of our support is
evident by the fact that the Customer, who has been working with Synectics
since 2014, has committed to such a significant, long-term upgrade and
expansion programme with us."

 

 

For further information, please contact:

 

 Synectics plc                                             Tel: +44 (0) 114 280 2828

 Paul Webb, Chief Executive Officer

 Amanda Larnder, Chief Financial Officer

 info@synecticsplc.com

 Shore Capital                                             Tel: +44 (0) 20 7408 4090

 Tom Griffiths / David Coaten

 Vigo Consulting                                           Tel: +44 (0) 20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald

 synectics@vigoconsulting.com

 

 

 

About Synectics plc

 

Synectics plc (AIM: SNX) is a leader in advanced security and surveillance
systems that help protect people, property, communities, and assets around the
world.

 

The Company's expertise is in providing solutions for specific markets where
security and surveillance are critical to operations. These include gaming,
oil and gas, public space, transportation, and critical infrastructure.

 

Synectics has deep industry experience in these markets and works closely with
customers to deliver solutions that are tailored to meet their needs.
Technical excellence, combined with decades of experience and long-standing
customer relationships, provides fundamental differentiation from mainstream
suppliers and makes the Company a stand out in its field.

 

Find out more at www.synecticsplc.com
(https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86MjVlNGYzNDE0ODA4ZmEyYTA3NWZkMDliMGFkZWNiMDU6Njo5NjM3OjYyMDQ4Y2FhOTE2MmMzMWMzYjFjN2I2YmZhYzJkZWI3MGU4MGViNDJiNGU4Y2RhNjI5YjdjMGZhMDE0ZWIwZDQ6cDpU)

 

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