Falanx Group Limited Strategic Contract Win (2462W)

TIDMFLX

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                      Via IFC 
  Alex Hambro Chairman 
  Mike Read CEO 
  Ian Selby CFO 
 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               [phone] 
 
   IFC Advisory Ltd, Financial PR 
   & IR 
   Graham Herring / Zach Cohen               [phone] 
 

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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August 17, 2020 02:00 ET (06:00 GMT)