Australia's Cipherpoint up on IT services deal worth $2.5 mln

Excite Technology Services

11/05/2023 03:42

** Shares of cyber security, cloud and IT services provider,
Cipherpoint Ltd  CPT.AX  rise as much as 33.3% to A$0.008
    ** Stock hits its highest level since April 26
    ** Co says its unit, Excite IT Pty Ltd, has entered into
managed services agreement with Lendlease Retirement Living
business worth A$3.67 mln ($2.49 mln)
    ** Co sees biggest intraday jump since May 4
    ** Under contract, co will provide IT and security
management services to Lendlease Retirement Living 
    ** About 30.2 mln shares change hands at 2:41 a.m. GMT
compared to 30-day average trading volume of 1.5 mln shares 
    ** Shares of co are down 14.3% YTD as of last close 
   


($1 = 1.4743 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))