Osirium Technologies PLC Two contract renewals with Think Money & M-Netics (1319U)

TIDMOSI

RNS Number : 1319U

Osirium Technologies PLC

20 October 2017

For immediate release

20 October 2017

Osirium Technologies plc

("Osirium" or "Group")

Two contract renewals with Think Money and M-Netics

Osirium Technologies plc (AIM: OSI.L), a UK headquartered cyber-security SaaS provider, is pleased to announce that both Think Money and M-Netics have renewed their contracts for 12 months.

Thinkmoney, part of the Think Money Group, a UK-based banking services provider, has worked with Osirium to transform its IT platform to support its key current account, loan and credit card products. Part of the IT project remit was to significantly improve management control and governance of privileged access to critical IT systems. A relatively small but highly secure subsystem has been implemented to encompass 50 multi-platform servers, backend databases, firewalls and other network and security devices.

Mobile technology solutions company, M-Netics, provides end-to-end solutions covering all aspects of mobile hardware requirements for leading logistics providers, manufacturers, retailers and field service organisations. It also operates close partnerships with leading wireless technology companies. Osirium has implemented a platform to control 'off-domain access' to servers on separate networks in multiple locations.

Osirium delivers to both customers its PxM product offering of Privileged Account Management, Privileged Task Management and Privileged Session Management modules and associated services.

David Guyatt, Chief Executive Officer, commented: "We are delighted to continue our relationship with these two high-growth midcap customers who recognise the importance of not only addressing insider threats but sophisticated external cyber-attacks. In both cases, we worked in partnership with them to deliver an easy to use, quick to install and cost effective platform which addressed their separate business requirements. The Osirium team looks forward to continuing to work closely with them."

   -      Ends - 

For further information:

 
 Osirium Technologies plc              Tel: [phone] 
                                                       2444 
 David Guyatt, Chief Executive 
  Officer 
  Rupert Hutton, Chief Financial 
  Officer 
  www.osirium.com 
 Stifel Nicolaus Europe                Tel: [phone] 
  Limited                                              7600 
  (Nominated Adviser and 
  Broker) 
 Fred Walsh / Neil Shah 
  / Ben Maddison 
 Yellow Jersey PR                  Tel: [phone] 
  (Financial PR) 
  Sarah Hollins 
 

Notes to Editors:

About Osirium

Osirium Technologies plc (AIM: OSI.L), is a UK headquartered cyber-security Software-as-a-Service ("SaaS") provider. Osirium protects 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 (Privileged Access Management) solution. The team has developed the concept of Virtual Air Gap to separate users from passwords, with Osirium's Privileged Task Management module further strengthening Privileged Account security and delivering 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTEAKENFEFXFFF

(END) Dow Jones Newswires

October 20, 2017 02:00 ET (06:00 GMT)