Siebel, Thomas M, CEO of C3.ai, sells $7.6m in stock
LONDON - Petards Group PLC, a developer of security and surveillance systems, announced Tuesday that its subsidiary RTS Solutions has secured a contract renewal with an unnamed rail industry customer for software licenses, maintenance and support services.
The renewed contract, effective immediately, will run until June 2026 and is valued at over £0.3 million, according to a company press release. Under the agreement, RTS will continue providing software licenses, maintenance and third-line support for its real-time failure and incident management software used on the UK’s rail network.
This renewal follows a £360,000 Software-as-a-Service license renewal with another customer that Petards announced last month.
Raschid Abdullah, Chairman of Petards Group, said the contract involves "safety-related software application which RTS has delivered to its customer for many years" and "further adds to the Group’s order book and supports its strong core of recurring revenues for the current and following year."
Petards Group is listed on London’s AIM market and specializes in developing advanced security, communication and surveillance systems.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.