Newmark Security secures two new US customer wins
By Iain Gilbert
Date: Friday 07 Aug 2020
(Sharecast News) - Security and data services firm Newmark Security has secured two new customer wins in its Human Capital Management division in the United States, where it trades as GT Clocks.
Newmark said on Friday that GT had onboarded a new client, a HCM software company which provides human resources and payroll solutions to more than 30,000 businesses of all sizes, across many sectors, onto its GT-4 timeclock - the successor to its previous mid-tier hardware offering.
The AIM-listed group stated the contract was for a period of three years, with a minimum contract value in excess of $1.0m over this period.
In a separate customer win, one of the Newmark's existing "full suite HCM solution" partners had entered into an agreement to supply its flagship device, the GT-10, to "one of the largest retailers in the US".
While Newmark noted the deal was not yet contractually committed, the firm estimates that the agreement could potentially be worth up to $3.8m over the next two-three years and could also lead to further projects with the same client.
Chief executive Marie-Claire Dwek said: "We are delighted to see our investment into creating our next-generation timeclocks being repaid with these customer wins.
"The US has been a significant part of our growth story in recent years and we expect that trend to continue."
As of 0835 BST, Newmark shares had surged 22.29% to 1.50p.
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