Contract win with major UK communications provider

RNS Number : 1994H

Osirium Technologies PLC

02 December 2020

 

2 December 2020

Osirium Technologies plc

("Osirium" or "the Group")

Contract win with a major UK communications and mobile services provider

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a significant contract win for its Privileged Access Management ("PAM") technology with a major UK provider of telephone, broadband and mobile services.

The new customer has purchased an initial 36 month term enterprise license for the Osirium PAM platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules. Consultancy and training from Osirium Professional Services are included in the contract.

The Osirium PAM platform has been selected in a competitive bid against a range of other PAM vendors as part of a sales initiative led jointly by Osirium and Infradata, an independent provider of state-of-the-art cyber security and cloud networking solutions and services and an approved Osirium reseller partner. Securing and monitoring privileged access for internal staff to the infrastructure is one of the initial focus points of the implementation, alongside demonstrating compliance with rigorous telecoms security requirements. The Osirium PAM solution will be providing privileged access security across mixed Windows and Linux environments incorporating disparate networking systems.

Osirium has been selected to respond to a detailed set of privileged access requirements, including multi-factor authentication, secure password rotation, high availability, Just In Time access and - highlighting a technology where Osirium has unique expertise - automation of workflows against targeted devices. In a comprehensive Proof of Concept programme, Osirium was able to demonstrate its full breadth of capabilities, Osirium PAM's ease of operation and customisability, and the professionalism of its sales and consulting engagement.  

The Board confirms that it now anticipates bookings being ahead of current market expectations for trading in the year to 31 December 2020. The Group expects to provide a further update in January 2021 consistent with previous years.

David Guyatt, Chief Executive Officer, commented : "2020 has inevitably presented us, our customers and partners with a number of challenges. I am therefore delighted that, as we approach the year end, this significant contract win against a range of competitors is a further endorsement of Osirium's strategy, technology and expertise in addressing our customers' security concerns.  With more and more specialist security integrators this year selecting Osirium as their PAM provider of choice, I am particularly pleased that this win has been secured with yet another excellent new reseller partner." 

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For further information:

Osirium Technologies plc	Tel: [phone]
David Guyatt, Chief Executive Officer Rupert Hutton, Chief Fiancial Officer www.osirium.com
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)	Tel: [phone]
Fred Walsh / Richard Short
Alma (Financial PR) Josh Royston / David Ison / Kieran Breheny	Tel: [phone]

Notes to Editors:

Osirium Technologies plc (AIM: OSI) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Security solutions. Osirium's cloud-based products protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.

Osirium has defined and delivered what the Directors view as the next generation Privileged Access Management solution. Osirium's award-winning Privileged Task Management module further strengthens Privileged Account Security by minimising the cyber-attack surface and delivering an impressive return on investment benefits for customers. Building on Osirium's Privileged Task Management module, in May 2019 Osirium launched Privileged Process Automation, providing a highly-flexible platform for automating essential IT processes to set a new benchmark in IT Process Automation. This was followed by the launch of Privileged Endpoint Manager in December 2019, bringing the total portfolio to three complementary solutions.

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016. For further information please visit www.osirium.com.

 

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