Dmatek ramps up US presence with two new contracts
Thursday, October 02, 2008
Dmatek, the London-listed electronic monitoring expert, has picked up two key state-level contract wins in the US which together should be worth between $22 million and $26 million over the next five years.
The agreements were concluded by Dmatek's subsidiary operations, which operate in the corrections and law enforcement market.
The new contracts require the provision of RF presence monitoring systems, 2-piece GPS tracking units and 1-piece, wearable tracking devices. Gradual implementation in the coming months will cover over 4,000 offenders and parolees.
Yoav Reisman, Dmatek's chief executive, noted: “The two contracts are significant, in sheer size and in their positive effect on further growth plans and I am very glad we were able to meet the programs stringent technology requirements. We plan to extend these projects all the required resources and support to make them a model success.”
Dmatek published interim results last month showing 29% growth in revenue to $26.3million and a five-fold increase in pre-tax profit to $3.4 million.
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