Gatekeeper Systems (TSXV: GSI) this morning continued to expand on a relationship already in place with the Southeastern Pennsylvania Transit Authority. The firm has been awarded another purchase order from the firm, which follows a $5.1 million order received in May.
The latest purchase order consists of a one-year contract extension related to vehicle video system maintenance services. The one year extension is the first of two such possible extensions, related to a contract entered into with the authority back in October 2019.
The original three year contract was valued at $7.1 million. The subsequent one-year extensions are each valued at $2.35 million.
As one of the largest transit authorities in the US, SEPTA presently serves a total of five counties within the Great Philadelphia region. The authority is one of Gatekeepers largest customers, having been a customer since 2018, during which time Gatekeeper has provided video system solutions, wireless connectivity, and server upgrades amongst other products and services.
Gatekeeper Systems last traded at $0.295 on the TSX Venture.
FULL DISCLOSURE: Gatekeeper Systems is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Gatekeeper Systems on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
