Wynyard shares soar with Middle East deal
Wynyard Group the crime fighting software-maker has struck another deal in the United Arab Emirates and its share price has leaped to the highest point since the company listed on the NZX.
Wynyard's share price has soared this morning following the news, climbing 14.29 per cent to $1.36, the highest point since the company listed last July.
Wynyard came out with the announcement morning that Dubai-based GCC Exchange would use its products to meet strict anti-money laundering regulatory requirements.
Craig Richardson, Wynyard managing director said the company would help GCC meet tougher regulations to better monitor cash flows through the UAE financial system.
He said "Wynyard is experiencing growing demand for its advanced crime analytics Software-as-a-Service solutions, particularly in the United Kingdom, the Middle East and New Zealand."
GCC said regulators were introducing stricter guidelines whereby financial service providers must be able to trace criminal transactions like money laundering and funding terrorist groups.
Mukesh Himatlal, GCC general manager said the partnership with Wynyard guaranteed GCC the top tools in the industry to protect its business and customers from financial crime.
Wynyard employs 120 people.
Wynyard has more than 400 customers worldwide, including Government agencies.
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