Wynyard lands deal with Queensland Rail

Craig Richardson said the new deal with Queensland Rail was "a real coup" for Wynyard.

Wynyard Group, which develops software to help companies fight crime and corruption, has secured a deal with passenger and rail infrastructure business Queensland Rail.

In an announcement today, Wynyard said it would be working with Queensland Rail to help manage its governance, risk and compliance programme.

Queensland Rail will use Wynyard's risk management software to help centralise information so it can more easily identify risks to the company.

The deal is worth close to $1 million - though Wynyard would not disclose the exact amount - over a three-year deployment.

Queensland Rail operates more than 7000km of track, employs 6000 staff and runs 260,000 scheduled services each year.

The Australian company reported annual revenue of $1.8 billion (NZ$2.1 billion) last year.

Wynyard's managing director Craig Richardson described the win as "a real coup for the company" and said it would be a a test of Wynyard's capability to deliver.

"We understand the increasing governance, risk and compliance obligations that today's critical national infrastructure companies must meet," he said.

Wynyard has developed four software products - risk management, intelligence, investigations and digital forensics.

Its risk management solution, which Queensland Rail is taking on, is already used by Dubai International Airport and Lloyd's of London.

Wynyard employs more than 120 staff across offices in New Zealand, Australia, the US, Canada, Britain and the United Arab Emirates.

It has more than 400 customers around the world, including national security and justice agencies, Fortune 500 companies and infrastructure operators.

The company has forecast revenue of $21.5 million for the 12 months to this December 31 and expects to post a net loss of $10.1 million for the same period.

Wynyard shares were trading at $1.26 this morning, having climbed above the $1.15 initial public offer price after a disappointing start to its life as a listed company last month, when the stock fell as low as $1.07.