SciSys has been awarded a £2.5m contract to work on the UK Ministry of Defence’s Future Deployable GEOINT (FDG) System. The announcement is a neat little ‘leaving present' for Mike Love, who will step back from his role of executive chairman to the part time role of non-executive chairman on January 1st 2012.
Love has a long history with SciSys and the objective of his most recent tenure was to bring the sparkle back into the company. It seems to have worked (see Love demonstrates confidence in SciSys), and the most recent results, for H1, closed out with revenue up 5% (see SciSys ‘tough but successful’ first half).
The new contract relates to work to rationalise and upgrade the existing geospatial intelligence capability, including delivering closer integration with the wider defence information infrastructure and comes via prime FDG contractor Lockheed Martin. It will run until May 2013. It will only contribute a small proportion to SciSys’s overall revenue - consensus estimates c£44.7m for the full year – but is a welcome addition nonetheless.