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Falanx Group Limited (FLX)

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Monday 17 August, 2020

Falanx Group Limited

Strategic Contract Win

RNS Number : 2462W
Falanx Group Limited
17 August 2020
 

FALANX GROUP LIMITED

("Falanx", the "Group" or the "Company")

Strategic Contract Win

 

Falanx Group Limited (FLX.L), the AIM listed provider of cyber security and strategic intelligence services, is pleased to announce that it has been awarded an important contract for the provision of cyber security services to one of the major suppliers of services to the UK public sector.

 

Following the recent launch of Triarii, its new cyber security platform, the Company has secured this strategically significant order to supply Triarii to several UK public sector organisations through a new reseller partnership. 

 

Whilst the immediate recurring revenues are relatively modest at this stage, these are expected to grow over time. The Triarii service is a strategic component of the customer's platform and, as that platform grows in size, revenues are expected to grow alongside. The opportunity for deployment of additional services, as and when they arise, will also lead to incremental recurring revenues from solutions such as the Group's Managed Endpoint Detection and Response.

 

Mike Read, CEO of Falanx, commented: "We are delighted to have won this contract with such a prestigious supplier of services to the UK public sector. This is an important development as, not only does this open another potentially significant sales channel, it also provides further customer validation of Triarii following a stringent series of trials and technical evaluations.  Triarii is now live and is servicing multiple customers."

 

Enquiries:

 

Falanx Group Limited

Alex Hambro Chairman

Mike Read CEO

Ian Selby CFO

 

Via IFC

Stifel Nicolaus Europe Limited, Nomad and Joint Broker

Alex Price / Fred Walsh

 

+ 44 (0) 207 710 7600

Turner Pope Investments (TPI) Limited, Joint Broker

Andy Thacker/Zoe Alexander 

+44 (0) 20 3657 0050 

 

IFC Advisory Ltd, Financial PR & IR

Graham Herring / Zach Cohen

 

+44 (0) 203 934 663

 

 

About Falanx

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/

 


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