RightCrowd expands global presence with $2.2m high-security contract for major European utility
A major European energy company will use RightCrowd’s software to streamline and automate its employee, contractor and visitor management processes.
Australian human resources technology firm RightCrowd (ASX: RCW) has won a $2.2 million contract with a major European energy utility for the supply of software to streamline and automate employee, contractor and visitor management processes.
While client details remain confidential, RightCrowd has confirmed it is one of Europe’s leading diversified energy generation and services companies, trading under a well-known brand name.
The solution provided by RightCrowd will enable the client to realise operational productivity and safety improvements and provide the capacity for full audits of workforce management processes.
Approximately half of the contract’s value has been attributed to software licencing, with the remainder relating to deployment services.
RightCrowd will receive most of the contract’s revenue over the next 12 months and expects any additional project servicing phases will be under separate contracts.
Belgian acquisition
The energy win follows the completion of a $22 million acquisition in January of Belgian-based Ticto NV – an early-stage company developing security wearables based on unique and patented intellectual property related to visualising authentication and authorisation.
On announcing plans for the acquisition in November, RightCrowd chief executive officer Peter Hill said Ticto was a good fit for the company’s business.
“Ticto supports our vision of deploying products to enable an organisation to adopt new forms of frictionless and continuous risk-based access and presence control,” he said.
“Although Ticto’s wearables will operate independently of our software, they will complement our core product offering by enforcing the safety, security and compliance policies defined through our platform.”
European expansion
For more than 10 years, RightCrowd has been working with major global clients, including US Fortune 50 companies, to develop and commercialise a world-leading security, safety and compliance software technology platform.
Chief executive officer Peter Hill said the European energy contract has helped accelerate the company’s expansion strategy into that market.
“Continued sales in this industry sector validates our efforts to partner with and invest in integrating with the world’s leading physical access control systems,” he said.
“These contracts give us a regional base [to provide] customer support, project delivery and engineering resources for our growing number of European customers.”
Given the nature of RightCrowd’s security processes, the company maintains a contractual commitment that it will not publicly release identifiable information regarding clients or the solutions employed within their businesses.
At mid-afternoon, shares in RightCrowd were up 7.14% to $0.30.