Sign up Australia
Proactive Investors - Run By Investors For Investors

Norwood Systems secures landmark U.S. contract

Investment bank to receive Corona and World Secure services.
Smartphone
Company’s first full-service contract and its first U.S.-based client for Corona

Norwood Systems Ltd (ASX:NOR) has signed a contract to supply smart phone security and archival services to U.S.-based investment bank JMP Securities.

The contract also includes a corporate pilot program for Norwood’s soon-to-be-released World Secure cyber-security platform.

It represents the company’s first full-service contract as well as its first U.S.-based client contract for the Corona Compliance and Corona CRM solutions.

Potential to scale up revenue

The Phase I contract attracts annual recurring revenue of $35,000 for a mix of SaaS and usage services delivered to an initial 50 JMP staff members.

There is potential to scale up revenue through further roll-outs to additional JMP staff members once Phase I is fully deployed and the World Secure pilot is accepted.

READ: Norwood Systems launches updated virtual mobile telephony app

Corona Compliance enables financial services sector firms to comply with U.S. and European regulations covering the need to archive business communications, including smartphone voice calls and text messages.

The Corona CRM solution enables Salesforce.com or Oracle Sales Cloud clients to capture and automatically log smartphone text messages and calls into the client’s Customer Relationship Management system.

Additional deals in pipeline

The JMP agreement will assist Norwood progress additional U.S.-based Corona Compliance deals in its sales pipeline.

It will also provide an important proof point for potential U.S.-based channel partners.

The World Secure VPN security tool will enable employees in information-sensitive industries to automatically secure and forget their smartphone’s wireless data network traffic when accessing potentially insecure Wi-Fi networks.

It will enable organisations to adjust staff members’ VPN security profiles on the fly in response to evolving cyber-security threats.

View full NOR profile View Profile

Norwood Systems Ltd Timeline

Newswire
March 27 2017

Related Articles

picture of trading screens
July 12 2018
With an optimistic outlook on future earnings, the company expects to recommend its first dividend in the second half of the current financial year.
Digital marketing
May 03 2018
Lots of marketing groups have pursued a 'buy and build' strategy and have become cumbersome as a result; Be Heard puts the emphasis on maintaining agility
Empty meeting room
March 06 2018
The company's eponymous flagship product is not the only remote meetings enabler out there, but judging by the company's rapid growth, it is one of the best

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use