Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Wynyard gets toehold in US market with Northrop tie-up

Wynyard gets toehold in US market with Northrop Grumman tie-up

By Paul McBeth

Dec. 7 (BusinessDesk) - Wynyard Group, the security and risk management software firm owned by Jade Software, has got a toehold in the US, partnering with Virginia-based Northrop Grumman Corp.

The deal gives Wyndham access to a US$2 billion market, which accounts for about half the global market in security and risk management software, and will give the New Zealand firm a foot in the door to securing the US Federal government as a customer. New York Stock Exchange-listed Northrop Grumman is the world's fourth-biggest defense contractor with annual revenues of US$26.4 billion.

Chief executive Craig Richardson told BusinessDesk the alliance gives the New Zealand firm the credibility that comes with partnering alongside a major player, and will mean Wyndham will have to ramp its investment in North America, including finding office space in Washington DC, before reaping revenue in 2014.

"In the medium-term plan, 2013 is about building awareness in the market," Richardson said. "We're really targeting the 2014 year for the more material earnings."

Wynyard is being touted as Christchurch-based Jade's growth opportunity, and has broken into the security markets in the UK, Australia and New Zealand. Getting a share of the US market gives it access to four of the so-called 'Five Eyes' Echelon intelligence network.

Richardson says Wynyard is hoping to get into the US intelligence, security and law and order sectors as it looks to sell its software which can replace much of the menial processes associated with sorting information by collecting and assessing intelligence and potential threats.

Wynyard is looking at some specific opportunities that it wants to close next year, and isn't in a position to put a dollar figure on the alliance, Richardson said.

Wynyard has previously indicated plans to raise capital late next year, though Richardson said the US partnership isn't capital intensive and won't require fresh funding.

Edward Swallow, Northrop Grumman vice president of business development civil systems, said the partnership will give the American company access to Wynyard's capabilities.

The deal "makes good sense and brings additional value to our customers that require innovative, affordable, agile and technologically advanced solutions," Swallow said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade & Retail: Chinese Disaster Spells Quiet Season For NZ Fireworks Sales

In August, two massive explosions at a warehouse at the port in the port of Tianjin, Northern China, killing more than a hundred people and devastating large areas of the city. In the wake of the disaster, Chinese authorities rushed to regulate the distribution of all dangerous goods... More>>



Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news