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Synectics' company QSG secures contract worth over £1m
Synectics announced on Wednesday that its portfolio company Quadrant Security Group ('QSG') has signed a contract worth over £1m.
The AIM-traded surveillance technology and networked security systems development and management firm said the contract concerns the enhancement of security provisions at a prestigious site in London and includes a major control room update.
It is expected that the project will be nearing completion by the end of Synectics' financial year at the end of November.
However, QSG is expected to be enlisted to provide maintenance and support on the soon to be installed provisions for four further years.
Paul Webb, chief executive of Synectics, said: "We are delighted that QSG's established track record with heritage sites has once again been recognised with this contract award. It is also pleasing to see signs of increasing activity within the infrastructure and public security sector in the UK, following a number of years of lower investment."
Synectics said QSG's experience with migrating "complex integrated systems within live control room environments without impacting existing security operations" was crucial to the new contract.
As of 1544 BST, Synectics' shares were up 5.26% at 200.00p.