Haley Van Leeuwen
Recent contract wins by listed security group Wynyard
have been positive for the company's shares and reflect recent
movements in the security sector in general, Forsyth Barr
broker Haley Van Leeuwen says.
Shares in the company soared last week after the
Auckland-based company announced it had gained the United
Arab Emirates money exchange GCC Exchange as a client for its
Wynyard shares were trading at $1.19 before the announcement.
On Friday, they closed on $1.82, an increase of 53% in four
Wynyard estimates the size of its potential global market has
grown from $US300 million ($NZ364 million) in 2011 to $US5.3
billion in 2013 as it added government intelligence software
to its suite of products targeting financial crime.
The latest contract adds to overseas deals the company signed
with the Thai Customers Department, Manayer Marketing
Management and Galadari Brothers in the past two months.
Mrs Van Leeuwen said the market seemed to be picking Wynyard
up and assigning a future value to it.
''It's no secret compliance and security are becoming big
themes in business across the world. Fifteen years ago, cyber
threat wasn't nearly as significant as what we are seeing now
and we're not just talking email scams from Nigeria.''
Other recent movements in the security included the
Nasdaq-listed FireEye buying security technology company
Mandiant for $US1 billion.
Mandiant managed cybersecurity and claimed the Chinese
Government was sponsoring hacking of other government and
corporate sites. That was noted as one example of an expected
trend for consolidation in the technology market.
Palantir, a direct competitor of of Wynyard, was a
privately-owned company best known for its link to the United
States government data ''spying scandal'', Mrs Van Leeuwen
However, it had a significant list of both corporate and
government clients and generated estimated sales of $US450
million in 2013.