Shares of digital identity, credential management, and secure mobility company Intercede Group (LON: IGP) have made strong gains on Thursday following the announcement that the company received an order totalling $3.4 million.
The order came from the US Federal Government and represents the annual support and maintenance renewal on a longstanding existing project from 1 April 2021 to 31 March 2022.
The UK based cybersecurity firm said the order will be fully recognised in revenue during the new financial year ended 31 March 2022.
The US Government also requested and has been offered the option to renew annual support & maintenance by Intercede at the same price for two subsequent years, ending 31 March 2023 and 31 March 2024.
Shares of Intercede Group climbed to highs of 105p following the news. In the past year, its share price has gained 125.59%.
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