icetana Limited (ASX:ICE) has overcome COVID-19 delays to obtain a new purchase order for a three-year deployment of icetana’s video analytics solution to a Singapore integrated resort operation through security services vendor Prosegur Singapore Pte Ltd.
The order has an aggregate value of approximately A$536,000), inclusive of three years support and maintenance charged to the end-user. This deployment represents less than 5% of the total camera footprint of the integrated resort site, which is one of many operated by this end-user.
Chief Executive Officer, Matt Macfarlane, said hardware supply is included in the arrangement and represents approximately 20% of the aggregate value of the contract. The contract is priced on a software as a service basis thus contributing to icetana’s annual recurring revenue.
This order represents the culmination of an extended process undertaken by the icetana and Prosegur teams,” Mr Macfarlane said.
“This was one of the COVID-19 affected projects that we are very pleased to see progress to an implementation stage. Particularly encouraging is the clear choice of the icetana motion intelligence platform over direct competitors.
“This represents icetana’s largest SaaS based recurring revenue contract to date. The opportunity to expand the number of cameras at this Singapore site and in other locations controlled by this end-user is potentially very significant to icetana.”
Non-Executive Director, Geoff Pritchard, said the implementation of icetana in such a large and complex site extends icetana’s footprint in this important industry.
“icetana’s non-rules based motion intelligence platform will enable the site to see what they need to see for both security and surveillance incidents and to implement rapid response action across the facility in real-time.”