Gatekeeper Receives New Orders From US Transit Authority For C$2 Million
Abbotsford, British Columbia (Newsfile Corp. - February 14, 2019) - Gatekeeper Systems Inc. (TSXV: GSI) (OTC Pink: GKPRF) (FSE: 1GK) ('Gatekeeper' or the 'Company'), a leading provider of high-definition video surveillance systems developed to protect people in transit, is pleased to announce that it has received a new purchase order of approximately C$2 million from the Southeastern Pennsylvania Transportation Authority ("SEPTA"). Gatekeeper has now solidified SEPTA orders that have an aggregate value of more than C$7 million.
"It is extremely gratifying to see such progress following our strategic acquisition last year," said President and CEO Doug Dyment, "The decision to expand in the US Transit market and the continued growth of our business with SEPTA validates that our specialized video solutions are very well suited to protect people in transit. We also continue to remain committed to our other markets such as school buses, where we have entrenched business relationships and new product roll-outs that we are very excited about."
On April 9, 2018 Gatekeeper announced the acquisition of Delaware-based assets which included a production facility, workforce, and SEPTA contracts. This acquisition enabled the Company to expand its US Transit business and establish SEPTA as a cornerstone customer. The Company subsequently announced additional SEPTA orders on November 13 & 29, 2018 and today, that total more than C$7 million. Gatekeeper expects most of these SEPTA orders to be invoiced during the Company's 2019 fiscal year which ends August 31, 2019.
SEPTA is the sixth largest public transportation system in the U.S. with an average weekday ridership of approximately 1.1 million. SEPTA operates multi-modal transportation services, including two subway/subway elevated lines, 118 bus routes, eight trolley routes, three trackless trolley routes, one inter-urban High Speed Line, 13 Regional Rail (commuter rail) lines and ADA Paratransit service. SEPTA has rapidly embraced video evidence as protection against fraudulent claims and has installed over 27,000 video cameras on vehicles and in stations, providing fraudulent-claim cost savings estimated to be US$22.2 million per year (SEPTA Fiscal Year 2020-2024 Financial Projections).
About Gatekeeper Systems Inc.
Gatekeeper engineers, manufactures and distributes industry leading high-definition mobile video surveillance and safety solutions for a range of markets including public transit authorities, school districts, law enforcement, as well as the US military and Coast Guard. Gatekeeper has installed over 100,000 video devices for more than 3,500 customers throughout North America. www.gatekeeper-systems.com
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14.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Gatekeeper Systems Inc.
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