Osirium Technologies - Contract win for PEM solution

Osirium Technologies

30/05/2022 07:00

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RNS Number : 1610N  Osirium Technologies PLC  30 May 2022

30 May 2022

 

Osirium Technologies plc

("Osirium" or the "Group")

 

Contract win for Privileged Endpoint Management solution

 

Osirium's first PEM-only contract win

 

Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based
cybersecurity and IT automation software, is pleased to announce its first
standalone Privileged Endpoint Management (PEM) contract win with a global
imaging brand.

 

The customer has selected the Group's PEM solution as part of its Cyber
Essentials compliance project, replacing a manual system for managing user
accounts. Under the three-year contract, PEM will be rolled out to 500 users
in the customer's UK operations.

 

Local administration rights on users' workstations allow for ransomware and
other malware to be installed and move around corporate networks. PEM removes
the need for these risky permissions without increasing the workload for busy
IT help desks, or preventing users from working efficiently. By learning which
applications need elevated permissions, and elevating only approved
applications rather than users, PEM's policy-driven approach makes it easy to
deploy and minimise impact on end-users.

 

As well the Group's Privileged Access Management (PAM) product, Osirium's
additional products, PEM and Privileged Process Automation (PPA) are
increasingly being seen as primary or standalone solutions, and follows on
from the Group's announcement on 24 March 2022 regarding its first PPA-led
deal with the Midlands and Lancashire Commissioning Support Unit.

 

This customer was achieved via reseller Softcat, and Osirium's partner,
software distribution firm Prianto. The Group continues to see a healthy
pipeline of opportunities through its broad network of channel partners.

 

Whilst this contract is not of a material size to the Group, the Directors
believe that it is a demonstration of the growing opportunity for future sales
of Osirium's PEM solution as a standalone product for new business wins, as
well as expansion with existing customers in line with the Group's "land and
expand" strategy.

 

 

David Guyatt, Chief Executive Officer of Osirium said:

 

"We are delighted to announce our first PEM-only deal today, which reflects
the increasing interest in our additional privileged security products as
organisations look to safeguard and update their security.

 

With a view to capitalising on this need for greater cybersecurity protection,
we are having many more conversations with existing PAM customers and new
opportunities around endpoint management, as well as process automation."

 

 

 

 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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