Source - RNS
RNS Number : 2462K
Ultra Electronics Holdings PLC
20 September 2016

Embargoed until 0700                                                                                                                                20 September 2016



Ultra Electronics Holdings plc

("Ultra" or "the Group")


CORVID PayGate launched by Ultra Electronics


CORVID PayGate, the new name for Ultra Payments is launched today, the next generation ultra-secure agnostic payments gateway.


Ultra Electronics has today announced the launch of CORVID PayGate Limited, the new brand for Ultra Payments, (previously also known as Barron McCann Payments) the specialist in the development and supply of global strategic payment processing software, data validation and services to support automated banking and e-commerce.


CORVID PayGate will meet the growing aspirations and needs of its customers for a highly secure agnostic global platform, allowing almost any payment type to be processed through a single gateway.


"This is a truly exciting time for the payments industry with regulation changes and the digital payments revolution continuing to drive innovation. CORVID PayGate will continue to accelerate development and growth to provide the excellent payment processing software and services that we are known for. " said Nick Newman, the head of CORVID PayGate.


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Nick Newman, Head of CORVID PayGate

John Bailey, Marketing Manager


01462 482333

Rakesh Sharma, Chief Executive

Ami Sharma, Group Finance Director


020 8813 4307

Susan McErlain, Corporate Affairs Director

James White, MHP Communications

07836 522 722

020 3128 8756



About CORVID PayGate 


Robust design with security pedigree ensures that CORVID PayGate's products and services are fully scalable, highly secure and capable of accommodating any level of transaction processing. Their commitment to customer quality extends from development, using over 30 years of expertise, to class-leading technical support and renowned data integrity.


CORVID PayGate is an indirect subsidiary of Ultra Electronics Holdings plc.


Further information about Ultra:


Ultra Electronics is an internationally successful defence, security, transport and energy company with a long, consistent track record of development and growth. The Group manages a portfolio of specialist capabilities generating innovative solutions to customer needs. Ultra applies electronic and software technologies in demanding and critical environments ranging from military applications, through safety-critical devices in aircraft, to nuclear controls and sensor measurement. These capabilities have seen the Group's highly differentiated products contributing to a large number of platforms and programmes.


Ultra has world-leading positions in many of its specialist capabilities and, as an independent, non-threatening partner, is able to support all of the main prime contractors in its sectors. As a result of such positioning, Ultra's systems, equipment or services are often mission or safety-critical to the successful operation of the platform to which they contribute. In turn, this mission-criticality secures Ultra's positions for the long term which underpins the superior financial performance of the Group.


Ultra offers support to its customers through the design, delivery and support phases of a programme. Ultra businesses have a high degree of operational autonomy where the local management teams are empowered to devise and implement competitive strategies that reflect their expertise in their specific niches. The Group has a small head office and executive team that provide to the individual businesses the same agile, responsive support that they provide to customers as well as formulating Ultra's overarching, corporate strategy

Across the Group's three divisions, Ultra operates in the following eight market segments:


·     Aerospace

·     Land

·     Communications

·     Maritime

·     C2ISR

·     Nuclear

·     Infrastructure

·     Underwater Warfare



This information is provided by RNS
The company news service from the London Stock Exchange