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Sepura advances on New York City Transit contract award

Published: 13:11 15 Jul 2016 BST

walkie talkies
Sepura designs, manufactures and supplies digital radio products

Shares in Sepura PLC (LON:SEPU) jumped after the critical communication solutions provider announced it has been contracted to supply a TETRA network for New York City Transit.

The deal, valued at US$34mln, was first announced back in April, when Sepura received a ‘notice to proceed’ by the New York City subway operator.

The radio systems contract covers system design, project management and the supply of 40 base stations and around 7,500 terminals.

“This contract endorses both our acquisition of Teltronic and our strategy to focus on both the global transport sector and developing our business in North America – two of the fastest growing segments for TETRA,” said chief executive Gordon Watling.

As part of the deal, Sepura will also supply a Teltronic CeCoCo Command and Control solution, which connects different agencies’ communications in emergency situations.

At the firm’s general meeting today (15 July), shareholders approved the £65mln share placing proposed at the end of June.

Shares were up 11.75p, or 3%, to 48.25p.

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