Wynyard Group, which develops software to help companies
fight crime and corruption, has secured a deal with passenger
and rail infrastructure business Queensland Rail.
In an announcement today, Wynyard said it would be working
with Queensland Rail to help manage its governance, risk and
Queensland Rail will use Wynyard's risk management software
to help centralise information so it can more easily identify
risks to the company.
The deal is worth close to $1 million - though Wynyard would
not disclose the exact amount - over a three-year deployment.
Queensland Rail operates more than 7000km of track, employs
6000 staff and runs 260,000 scheduled services each year.
The Australian company reported annual revenue of $1.8
billion (NZ$2.1 billion) last year.
Wynyard's managing director Craig Richardson described the
win as "a real coup for the company" and said it would be a a
test of Wynyard's capability to deliver.
"We understand the increasing governance, risk and compliance
obligations that today's critical national infrastructure
companies must meet," he said.
Wynyard has developed four software products - risk
management, intelligence, investigations and digital
Its risk management solution, which Queensland Rail is taking
on, is already used by Dubai International Airport and
Lloyd's of London.
Wynyard employs more than 120 staff across offices in New
Zealand, Australia, the US, Canada, Britain and the United
It has more than 400 customers around the world, including
national security and justice agencies, Fortune 500 companies
and infrastructure operators.
The company has forecast revenue of $21.5 million for the 12
months to this December 31 and expects to post a net loss of
$10.1 million for the same period.
Wynyard shares were trading at $1.26 this morning, having
climbed above the $1.15 initial public offer price after a
disappointing start to its life as a listed company last
month, when the stock fell as low as $1.07.
- By Ben Chapman-Smith of nzherald.co.nz