Osirium Technologies - Contract Win

Osirium Technologies

21/07/2022 07:00

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RNS Number : 2170T  Osirium Technologies PLC  21 July 2022

21 July 2022

 

Osirium Technologies plc

("Osirium" or the "Group")

 

New contract win

 

UK university selects Osirium PAM to address cyber insurance needs

 

Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based
cybersecurity and IT automation software, is pleased to announce a new
contract worth c. £140,000 for a three-year subscription for its Privileged
Access Management ("PAM") solution with a UK university (the "University").

 

The University has selected the Group's PAM solution to address requirements
for improved security for IT system access, especially by third parties. PAM
was a key requirement of its cybersecurity insurance provider and will be used
to protect 1,000 devices across the establishment.

 

With an accelerated purchase, supported by Osirium's partners Prianto and
Academia, the contract was closed within six weeks. The Directors believe that
the speed of implementation of PAM and value for money were critical to the
selection of Osirium against other cybersecurity vendors.

 

This contract represents 8.9% of the total bookings achieved by the Group in
2021 and reflects the continuing trend of increasing average contract values
from the new clients closed in 2022.

 

David Guyatt, Chief Executive Officer of Osirium said:

 

"This is another win for Osirium in higher education, following on from a
number of key wins in 2022. We're especially pleased that not only did we
compete successfully against larger vendors but, working closely with our
partners, we were able to provide the solution the customer needed in a very
short period.

 

"This sector remains a key focus for the Group and I'm pleased to see our
sales process aided through increased reference sites with existing customers.
In collaboration with our channel partner network, we continue to identify and
engage with other prospects in this space."

 

 Contacts:

 Osirium Technologies plc                                Tel: +44 (0)1183 242 444
 David Guyatt, CEO
 Rupert Hutton, CFO

 Allenby Capital Limited (Nominated adviser and broker)  Tel: +44 (0)20 3328 5656
 James Reeve / George Payne (Corporate Finance)
 Tony Quirke (Sales and Corporate Broking)

 Alma PR (Financial PR adviser)                          Tel: +44 (0)20 3405 0205
 Hilary Buchanan                                         osirium@almapr.co.uk
 Kieran Breheny
 William Ellis Hancock

 

 

About Osirium Technologies Plc

 

Osirium Technologies plc (AIM: OSI) is a leading UK-based cybersecurity
software vendor delivering Privileged Access Management (PAM), Privileged
Endpoint Management (PEM) and Osirium Automation solutions that are uniquely
simple to deploy and maintain.

 

With privileged credentials involved in over 80% of security breaches,
customers rely on Osirium PAM's innovative technology to secure their critical
infrastructure by controlling 3(rd) party access, protecting against insider
threats, and demonstrating rigorous compliance. Osirium Automation delivers
time and cost savings by automating complex, multi-system processes securely,
allowing them to be delegated to Help Desk engineers or end-users and to free
up specialist IT resources. The Osirium PEM solution balances security and
productivity by removing risky local administrator rights from users, while at
the same time allowing escalated privileges for specific applications.

 

Founded in 2008 and with its headquarters in Reading, UK, the Group was
admitted to trading on AIM in April 2016. For further information please
visit www.osirium.com (http://www.osirium.com/) .

 

 

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