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

 

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news