Vigilant Technology Limited, the Aim-listed company, which designs and manufactures sophisticated, "intelligent" solutions for the high-end CCTV security and surveillance market, is pleased to announce the signing of three new contracts worth over US$1 million in additional revenues.
Vigilant has signed a digital video recording solution contract with the Israel Diamond Exchange Ltd (the "Exchange"). Under this contract which will upgrade the Exchange's entire, fully operating current analogue system, hundreds of the Exchange's existing cameras will be integrated in to a new Vigilant digital video recording solution. In line with the Exchange's specific requirements, Vigilant's modular solution provides future flexibility in allowing an unlimited number of further recording channels to be added as and when needed. For example, the Exchange is currently considering an enlargement of its main trading hall which would necessitate further recording channels being added to the system.
The Exchange has a world-renowned reputation. It has approximately 2,500 members dealing in the trade, production, marketing, purchasing and brokerage of diamonds, including their import and export. Located in Tel Aviv, the Exchange enables its members to conduct their affairs "under one roof" with maximum convenience and security, within the largest and most sophisticated trading hall for diamonds in the world and in over 1,000 private offices at the Exchange.
Reflecting the high value and portability of diamonds, the Exchange is a high-security organization. Vigilant's ability to offer a high-end digital video recording solution was therefore a critical factor in their selection process. Vigilant's system was chosen only after several leading solutions, including Vigilant's, had being tested against one another by the Exchange. Also important to the Exchange's decision was Vigilant's ability to offer a total surveillance solution capable of being fully integrated with the Exchange's existing security and surveillance system.
Vigilant is also pleased to announce the signing of a further contract with one of Russia's major banks. The solution will enable the recording a large number of channels, supported by Vigilant's SmartGuard intelligent video analytics solution.
The Company is also pleased to announce that that it has secured a contract for the major expansion and upgrade to the technology already installed at the London Borough of Hackney. The new municipality system incorporates both centralised and distributed recording solutions, using a combination of Enterprise and Xstream, on a network-distributed architecture and utilising the latest software from Vigilant. This will further enable recording in public spaces such as main streets, park areas, car parks, youth offender institutes and other public buildings.
Moshit Yaffe-Blushinksy, Chief Executive Officer, said today:
"We are very pleased to announce the signing of these contracts with such high profile clients, which the Directors believe will amount to over one million dollars in additional revenues. We believe these new agreements put us in an excellent position to capitalise further on the growing demand for "intelligent" security and surveillance solutions, against the backdrop of rising terrorism and security concerns worldwide."
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