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- icetana (ICE) has received an order from security services company Prosegur Singapore to deploy its video an analytics solution to an integrated resort operation
- The contract is valued at S$550,800 (roughly A$542,316) and is the largest software-as-a-service order that icetana has received
- icetana’s motion intelligence platform learns and filters out routine motion, allowing operators to focus on unusual behaviour and respond in real-time
- Pleasingly, the implementation of icetana’s technology in such a large and complex site extends the company’s footprint in the region
- Following this news, icetana is up 19.2 per cent and shares are trading for 15.5 cents
icetana (ICE) has received an order from reseller Prosegur Singapore to deploy its video analytics solution to an integrated resort operation for three years.
Prosegur Singapore is a security company that provides technology and consulting services and as well as security guarding services since 1988.
Significantly, the S$550,800 (roughly A$542,316) purchase order is the largest software-as-a-service (SaaS) order that icetana has received.
icetana’s motion intelligence platform learns and filters out routine motion, showing only unusual behaviour, which allows operators to focus on important events and respond in real-time.
“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,” CEO Matt Macfarlane said.
The order also marks the company’s first integrated resort customer outside Australia.
“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,” Non-Executive Director Geoff Pritchard said.
Under the terms of the agreement, icetana will provide software support and maintenance over the three-year period. However once the three years is up, the customer will need to renew the agreement for further support and maintenance.
Additionally, the order included hardware supply which represents roughly 20 per cent of the aggregate value of the contract.
As the contract is priced on an SaaS basis, the order will contribute to icetana’s annual recurring revenue.
Following this news, icetana is up 19.2 per cent and shares are trading for 15.5 cents at 12:18 pm AEDT.
