Security systems manufacturer Spectur has signed a three-year contract with Transport for NSW for the delivery or live webcam vision and night vision enabled cameras across the state.
The value of the three-year contract has been cited at a minimum of $787,428, however there is potential for the deal to extend to nine years and over $2.3 million.
The contract follows on from an ongoing smaller contract with 3 Crowns Technologies (3CT), which is 100 per cent owned by Spectur. That deal, which was extended by six months earlier this year, will be replaced by thew new contract in early 2025.
Spectur Managing Director Gerard Dyson says contracts like the one signed with Transport for NSW are key in ensuring the company’s growth and sustainability heading into the future.
“The portion of revenue that is coming from high gross margin recurring revenue continues to increase at Spectur, with current run rates in excess of 60 per cent of total revenue,” Dyson says.
“Many of the projects that form this growing base, including the recent win with Transport for NSW, arise through the growth of existing relationships and accounts.
“These long-term contracts ultimate reduce and then remove the requirements for hardware sales and service to cover costs, ushering in a new era of profitability and a platform for accelerating growth.”
The contract includes the provision of the following services and products:
- Live webcam with night vision enabled cameras for 23 existing locations including all hardware supply, installation, maintenance, software and data provisions as a managed service
- Expansion of these 23 locations to new fixed locations
- Provision of new mobile trailer systems. Quantity to be confirmed, with the potential to increase the base contract value
The contract will be executed through the 3CT entity.
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