Contract wins

RNS Number : 2049R

Osirium Technologies PLC

27 February 2019

 

For immediate release

27 February 2019

Osirium Technologies plc

("Osirium" or "Group")

Contract wins

Major UK provider of Travel and Transport Services and UK arm of Global Banking Group 

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce two contract wins with one of the UK's main providers of travel and transport services and the UK division of a leading global provider of financial services.

Under the terms of both contracts Osirium will deliver its full PxM Platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules.  With both customers the solution will manage and control access from third party privileged users into complex environments comprising Linux, Windows and Network Infrastructure devices.

The travel and transport services initial customer license is for over 500 devices and is set to run for 12 months.  Of particular importance is the ability to record the actions carried out by third parties, such as external contractors, to ensure the customer meets its auditing commitments.   

The financial services initial customer license is for 150 devices, is set to run for 12 months, and covers a comprehensive package of software, consultancy, training and 24/7 technical support.  For this customer the Osirium solution has been selected to help address three significant challenges:

·     demonstrating rigorous compliance with SWIFT regulatory requirements;

·     protecting internal staff against potential security breaches, such as those associated with managing long and complex passwords;

·    establishing an effective model for managing external contractor access to privileged accounts but without compromising security.

David Guyatt, Chief Executive Officer, commented: "We are delighted to have been awarded these two contracts, one of which involved displacing a competing vendor.  These wins further underline the increasing acceptance of Osirium as a Privileged Access Management solution provider able to address complex customer requirements.   

"Helping organisations take control of privileged accounts accessed by third parties has been a recurring theme for some time, and rigorous auditing is a now also a major challenge for a growing number of customers. At the heart of these wins was Osirium's ability to address the entirety of the customer's multi-vendor environment as well as automating essential operating tasks."

- Ends -

For further information:

Osirium Technologies plc	Tel: [phone]
David Guyatt, Chief Executive Officer Rupert Hutton, Chief Financial Officer www.osirium.com
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)	Tel: [phone]
Fred Walsh / Neil Shah / Alex Price
Yellow Jersey PR (Financial PR) Sarah Hollins Henry Wilkinson	Tel: [phone] Tel: [phone]

Notes to Editors:

About Osirium

Osirium Technologies plc (AIM: OSI.L) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Management ("PAM") software. 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 PAM solution.  The team has developed the concept of a Virtual Air Gap to separate users from passwords.  Built on Robotic Automation technology, Osirium's 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.

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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