MARKHAM, ONTARIO--(Marketwired - Dec. 13, 2016) - VIQ Solutions Inc. ("VIQ Solutions" or the "Company") (TSX VENTURE:VQS) is pleased to announce that Spark & Cannon, VIQ's Australia based reporting and transcription services and technology distributor, was awarded a major new contract with the New South Wales Police Force ("NSWPF") for the provision of secure transcription of police recordings.
Revenue expected for Spark & Cannon is AUD$2.085M per year based on historical workflow. The contract term is three years with two options to extend for an additional year each.
"This is a significant win. This prestigious contract cements Spark & Cannon's position as the leader for secure law enforcement technology and services in Australia," said Sebastien Paré, President and CEO of VIQ Solutions. "It assures solid revenue for many years as the Company continues to expand beyond historical court markets."
The NSWPF is Australia's oldest and largest police organization and one of the largest in the English speaking world with 16,000 employees. NSWPF serves a population of more than seven million in New South Wales from more than 400 police stations.
Spark & Cannon has provided secure transcription services to NSWPF since 2007. As with previous awards, Spark & Cannon will be a participant on a panel of multiple transcription contractors appointed by NSWPF.
With the new contract, Spark & Cannon's portion of the workflow has more than tripled, making them the predominant transcription supplier for the NSWPF.
"The significant expansion of our portion of the workflow demonstrates the confidence that the NSWPF has in Spark & Cannon to provide quality, efficient and secure transcription services," said Matthew Fowler, Managing Director at Spark & Cannon. "We're pleased that NSWPF recognizes Spark & Cannon's leadership in these areas as we continue to increase our law enforcement market."
Spark & Cannon also provides transcription services to the Victoria Police through a similar multiyear contract.
"As Spark & Cannon continues to win new contracts with police, medical and legal customers across Australia, we look forward to expanding our offerings to these customers to include additional secure technology and services," added Mr. Paré.
For more information on what is making the news at VIQ Solutions, please visit our website at http://www.viqsolutions.com/news.html.
About VIQ Solutions Inc.
VIQ Solutions is the leading technology and service platform provider for digital evidence capture and content management. Our secure modular software allows customers to onboard the VIQ platform at any stage of their organization's digitization, from the capture of digital content from video and audio devices through to online collaboration, mobility, data analytics and integration with sensors, facial recognition, speech recognition and case management or patient record systems. VIQ's technology leads the industry in security, meeting the highest international standards for digital/cyber security and privacy, including military and medical regulations.
Our solutions are in use in over 20 countries with tens of thousands of users in over 200 government and private agencies including law enforcement, immigration, medical, legal, insurance, courts, and transportation and transcription services. VIQ also provides end to end transcription services to several large government agencies through our Australia-based reporting and transcription partners. VIQ operates worldwide with partners like security integrators, audio-video specialists, and hardware and data storage suppliers. Managing digital media evidence is what we do, and we do it better than anyone else. For more information about VIQ Solutions, please visit www.viqsolutions.com.
Certain statements included in this news release constitute forward looking statements or forward looking information under applicable securities legislation. Such forward looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward looking statements or information in this news release include, but are not limited to, the expected workflow volume and associated revenues of Spark & Cannon attributable to the contract with the New South Wales Police Force.
The forward looking statements or information contained in this news release are made as of the date hereof and VIQ Solutions undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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