Citadel Group seals $24.8 million govt tech contract

Citadel Group seals $24.8 million govt tech contract

Canberra-based managed services provider signs additional $24.8 million contract

Citadel Group (ASX:CGL) has signed a multi-million dollar contract with an Australian Federal Government agency, following a similar agreement struck in August.

The additional contract is worth over $24.8 million.

While the Canberra-based managed services provider did not name the Federal Government agency as a result of strict confidentiality obligations, Citadel Group is named as a technology services provider on the Department of Human Services information and communications technology services procurement panel.

Terms of the new deal requires Citadel Group to design and implement a range of technology solutions, which includes CCTV integration, behavioural analytics and real-time information sharing of identified threats.

Citadel Group chairman, Kevin McCann, said together, these solutions - which leverage earlier investments made by Citadel in research and development - will enhance the agency’s situational awareness, operational response and general staff safety.

"This engagement clearly evidences the integration capabilities of Citadel and the skills of Australian companies in developing and commercialising genuine IP that can add real value,” he said.

The solutions are expected to be delivered over two years, with work commencing immediately.

McCann also said the win further demonstrates that strong momentum continues for the group as it extends core contracts with key customers.

The majority of Citadel Group’s revenues are derived from long-term managed services, software-as-a-service and strategic advisory services to state and federal government departments and the private sector.

In May, the company acquired software and services company, Kapish for about $17.5 million, increasing its proportion of recurring revenue contracts in the process.

Citadel Group managing director and CEO, Miles Jakeman, previously said its growth strategy was underpinned by a combination of organic growth and M&A activity.

“With a strong pipeline of organic growth opportunities that will continue to be supplemented through further acquisitions, Citadel is well placed to continue its growth trajectory,” he previously said.

In addition, Citadel Group chief operating officer and deputy CEO, Darren Stanley, previously told ARN that big data and analytics also continues to be a focal area for the company going forward.

“We will also continue to develop our strong information management and assurance pedigree, and expand our capabilities across federal, national, state and local government," he said.

"Our other focus is on developing our e-Health credentials."

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