SRT Marine Systems (AIM:SRT) has signed a £5 million, one‑year support contract with a long‑standing sovereign customer to maintain and support an operational SRT‑MDA deployment between 1 January and 31 December.
The agreement covers technical support and data services, is the second annual support contract and is larger than the first because the customer is increasing its use of the system, and SRT, a global provider of intelligent maritime surveillance and safety systems, said it expects these recurring contracts to grow as the customer expands the SRT‑MDA system with future system expansion contracts.
SRT framed the deal as evidence of a long‑term sovereign partnership and of its "multi revenue stream" business model, with the contract supplying a blend of services to keep the customer's digital maritime surveillance capability operational.
"This is an important long term sovereign partnership with significant future system growth ambitions," Simon Tucker, chief executive, said.
