Delaware | 77-0444317 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
The value of the contract during the initial three-year term is based upon the number of the customer's retail stores for which the Company implements its payment management solution. Based upon the customer's current implementation plans, the Company estimates the contract will result in revenue of approximately EUR 2.2 million, or $2.9 million during the initial three-year period of the contract, with the majority of this amount being recognized in the first two years as the payment system is deployed to the customer's 300 existing stores. The total value of the contract over an assumed extended five-year term would increase as the customer adds new stores over time in which the payment management solution is implemented.
Identive Group, Inc. | ||||||||
Date: March 07, 2013 | By: | /s/ David Wear | ||||||
David Wear | ||||||||
Chief Financial Officer | ||||||||