Replies to post #33330 on HOSStile STOCKS

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$SYRX $91M contract

Sysorex Announces Signing of $91 Million Contract

Company signs multi-year deal to provide IT infrastructure solutions and services, data analytics and its AirPatrol products for new smart community

PALO ALTO, Calif.--(BUSINESS WIRE)-- Big data analytics and solutions provider Sysorex (NASDAQ: SYRX) announced today that it has signed a $91 million contract to make its software and information systems the central nervous system for a new state-of-the-art “smart” community being developed to house 4,000 employees working on construction projects in the State of Qatar. Under the terms of the 15-year contract, Sysorex will operate as the community’s intelligent infrastructure providing a full range of services including information technology, AirPatrol location-based security products, data analytics, cashless payment systems, campus-wide WiFi and Internet-based TV, facilities management and public safety management for police, fire and medical personnel.

“The scope and magnitude of this project makes it especially exciting,” said Sysorex CEO Nadir Ali. “The design and development will involve every one of our core competencies from advanced IT infrastructure to leading-edge mobile locationing and data analytics.”

The project is led by developer, Daruna For Real Estate Development (Daruna), which designed the project as a modern college campus-style community that includes living accommodations, recreation and entertainment, healthcare and retail facilities for 4,000 workers on key infrastructure projects in Qatar including the FIFA World Cup 2022 and Qatar National Vision 2030.

“We chose Sysorex for this development because the combination of products, services and insights it provides is unique,” said Daruna CEO Michael Murphy. “We couldn’t find a solutions partner for this project as comprehensive as Sysorex’s anywhere else.”

In July 2015, Sysorex announced an initial $2.5 million contract with Daruna to use AirPatrol as a security and asset management platform. This new contract expands that arrangement, extending Sysorex’s involvement onto nearly every aspect of the community’s management and operation. The 15-year contract is expected to start in the second quarter of 2016. Sysorex will receive approximately $6.1 million per year.