Source - SMW
Banknote authentification and other technology provider Spectra Systems said it had executed a five-year sensor service contract with an existing licensee.

The minimum revenue from the contract, signed with 'one of the world's largest banknote printers' was $1.0m, excluding repair services, which would be charged on a time and materials basis.

'We are particularly delighted that the service contract with our long time licensee underpins their commitment to selling the technology and products already in the market and supplied by us,' chief executive Nabil Lawandy said.