Shares in surveillance systems specialist Synectics (AIM:SNX) PLC jumped 12% following the announcement of a $10 million contract to upgrade and expand operations at a major gaming resort in Southeast Asia.
The project will begin late in Synectics (AIM:SNX)' current financial year and is expected to be completed by the end of the next financial year.
The gaming resort has been using Synectics' proprietary software, Synergy, since 2014. The new contract will upgrade the resort's existing system to the latest version of Synergy.
The project is complex, as the resort's system will remain operational 24/7 during the upgrade. Synectics is developing a detailed program with the customer to ensure a smooth transition.
At 8.37 am, the shares were changing hands for 197.82p, up 21.82p.