Previous NSBI investments in Techlink, valued at $5.5 million, will be converted into shares.
"Supporting an innovative and technology-based company like Techlink helps position it to secure significant contract opportunities and that's the success we are seeing here today," said Economic and Rural Development and Tourism Minister Percy Paris. "This investment is in line with the province's jobsHere plan to grow the economy."
Together, the new investment and the conversion to shares will help Techlink deliver on the contract and leverage other potential opportunities.
"This is the largest contract award in the history of our company and a significant milestone in our journey to international growth," said John Xidos, president and CEO of Techlink. "It takes our capacity and competiveness to an entirely new level and it's something all our employees are incredibly proud of."
The funding will be used to purchase parts and materials to fulfill the contract. The Sydney-based company is a significant employer in the region. With annual wages approaching $4 million, Techlink generates in excess of $20 million in combined economic benefits in the province.
"We're working with a homegrown company with an international presence. Working with companies like Techlink helps bring the Nova Scotia brand to businesses and consumers around the world," said Stephen Lund, president and CEO of NSBI.
Techlink Entertainment is a turnkey gaming technology solutions provider. The company consistently introduces first-to-market offerings in gaming machines, games, systems and responsible gambling tools; and is leading the way with open-design products that are evolving the gaming industry. To learn more visit www.techlinkentertainment.com
Nova Scotia Business Inc. is the province's private-sector-led business development agency. Through trade development, investment attraction, business financing and venture capital, NSBI helps local companies and attracts international businesses to Nova Scotia.