Intercede Reports $2.6M in New MyID Contract Awards and Renewals

Intercede has secured approximately $2.6 million in new contract awards and renewals for its MyID credential-management software, subscriptions and professional services, extending its work with government, defense and aerospace customers.

The orders were placed through Intercede’s partner network and cover both perpetual-license and subscription deployments of MyID CMS. The platform manages the issuance and lifecycle of digital credentials used for access to protected systems, including public key infrastructure certificates and FIDO authentication.

Customers associated with the new business include US federal agencies, a multinational military alliance, a European public-sector organization and an organization in the Middle East. Intercede also identified approximately $1.65 million in renewal opportunities connected with the contracts through early 2030.

The work includes software licenses, support and professional services for organizations in sectors where credentials must be issued under centralized policy and managed across long operating lifecycles. MyID CMS can manage smart cards, security keys, mobile credentials and other authenticators from enrollment through renewal and revocation.

The latest orders follow a separate contract batch disclosed late last year. Intercede then reported at least $4.2 million in MyID awards and renewals, including work for US federal and Asian government customers.

Biometric identity proofing can also be incorporated into credential issuance. Intercede previously integrated Aware’s face-matching and liveness technology into MyID, enabling organizations to compare an applicant with an identity document during remote enrollment.

Intercede delivered nine releases across the MyID product family during its financial year ended March 31. Those releases included four MyID CMS updates, three releases covering MyID MFA and password-security management, and the launch of MyID SecureVault 3.0.

The company reported £17.2 million in revenue for that year, with recurring support, maintenance and subscription revenue accounting for 66 percent of the total. The newly disclosed contract activity falls in the financial year that began April 1.

Partner-led sales are a central route to market for Intercede because large credential programs are commonly delivered through systems integrators. The new orders include both direct software value and services needed to configure, support or extend deployments within the customers’ existing security and identity environments during implementation and renewal.

Sources: Yahoo Finance, Intercede

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By the ID Tech Editorial Team