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

 


RESEND: Wynyard gets toehold in US market

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

(Fixes name in second paragraph)

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 Wynyard 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 Wynyard 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.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news