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

 

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news