Osirium Technologies PLC Substantial contract win (1983N)

TIDMOSI

RNS Number : 1983N

Osirium Technologies PLC

23 September 2019

23 September 2019

Osirium Technologies plc

("Osirium" or "Group")

Substantial contract win with major UK provider of software and IT services

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a significant contract win with a major UK provider of software and IT services to the public sector. The contract represents a substantial expansion by this customer of its investment in Osirium, following an initial order, as announced on 12 February.

Under the terms of the contract, Osirium will deliver its full PxM Platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules. The 36 month license is for 2,600 devices, in addition to the 250 devices covered by the initial order. Osirium's software will enable this service provider to deliver managed security services to its customers, principally central government organisations and local authoriities in the public sector, delivering rigorous control of access to privileged accounts.

David Guyatt, Chief Executive Officer, commented: "Osirium is delighted that, within a 9 month period, this prominent service provider has shown such confidence in the Osirium solution and expanded its base of protected devices more than ten fold. This is further evidence of the success of our land and expand strategy, as having experienced the benefits of the Osirum PxM solution, they have now taken the decision to roll out our technology to public sector customers served by both of their data centres.

"We are very pleased that are they providing security services using not only the classic Privileged Acccess Management functionality but also exploiting Osirium's award-winning Task Automation capabilities, for example on Linux devices, to minimise the risk of security breaches."

- 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          Tel: [phone] 
  (Nominated Adviser and Broker) 
 Fred Walsh / Neil Shah 
 Alma PR                                  Tel [phone] 
 

Josh Royston, Hilary Buchanan

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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END

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September 23, 2019 02:00 ET (06:00 GMT)