First contract win in the United States

RNS Number : 6752L

Osirium Technologies PLC

17 May 2022

 

17 May 2022

Osirium Technologies plc

("Osirium" or the "Group")

First contract win in the United States

Overseas expansion driven by Osirium's channel partner network

Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based cybersecurity and IT automation software, is pleased to announce it has signed its first customer in the United States of America ("USA") via one of its channel partners.  

The new customer, a global investment bank headquartered in New York and listed on the New York Stock Exchange, has selected Osirium's Privileged Access Management ("PAM") security product. This contract will see Osirium's services guard against potential threats to the clients IT infrastructure, such as ransomware attacks, through managing internal and third-party access to critical servers, applications and networking equipment.

This contract was sold via reseller HIC Global in conjunction with one of the Group's new partners, software distribution firm Prianto, which has a strong cybersecurity presence with mid-market customers in the UK, across Europe and North America. Having recently partnered with Osirium, Prianto has won multiple contracts with the Group for its PAM and Privileged Endpoint Management ("PEM") services.

Whilst the contract is not expected to have a material impact on the Group's results for the current financial year, the Directors of the Company consider that it is strategically important in demonstrating the potential demand for the Group's products in the significant market in the USA.

David Guyatt, Chief Executive Officer of Osirium said:

"We are delighted to announce this first win in the USA, which represents further evidence of the opportunity to grow outside of the Group's core UK market. This contract is strategically important and shows good referenceability as we continue to expand our footprint in this important region while working with our network of partners like Prianto to make it easy for customers to do business. This network forms a core element of the Group's strategy, both domestically and internationally, and extends the Group's reach across the five continents in which it operates.

"In line with the maturation of the privileged security market alongside the broadening of the Group's network, Osirium expects to see a continued healthy pipeline of greenfield opportunities, both in the UK and overseas."

Contacts:
Osirium Technologies plc	Tel: [phone]
David Guyatt, CEO
Rupert Hutton, CFO
Allenby Capital Limited (Nominated adviser and broker)	Tel: [phone]
James Reeve / George Payne (Corporate Finance)
Tony Quirke (Sales and Corporate Broking)
Alma PR (Financial PR adviser)	Tel: [phone]
Hilary Buchanan	[e-mail]
Kieran Breheny
Will Ellis Hancock

About Osirium Technologies Plc

Osirium Technologies plc (AIM: OSI) is a leading UK-based cybersecurity software vendor delivering Privileged Access Management (PAM), Privileged Endpoint Management (PEM) and Osirium Automation solutions that are uniquely simple to deploy and maintain. 

With privileged credentials involved in over 80% of security breaches, customers rely on Osirium PAM's innovative technology to secure their critical infrastructure by controlling 3^rd party access, protecting against insider threats, and demonstrating rigorous compliance. Osirium Automation delivers time and cost savings by automating complex, multi-system processes securely, allowing them to be delegated to Help Desk engineers or end-users and to free up specialist IT resources. The Osirium PEM solution balances security and productivity by removing risky local administrator rights from users, while at the same time allowing escalated privileges for specific applications.

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

 

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