Osirium Technologies - First contract win in the United States

Osirium Technologies

17/05/2022 07:00

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RNS Number : 6752L  Osirium Technologies PLC  17 May 2022

 

17 May 2022

 

Osirium Technologies plc

("Osirium" or the "Group")

 

First contract win in the United States

 

Overseas expansion driven by Osirium's channel partner network

 

Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based
cybersecurity and IT automation software, is pleased to announce it has signed
its first customer in the United States of America ("USA") via one of its
channel partners.

 

The new customer, a global investment bank headquartered in New York and
listed on the New York Stock Exchange, has selected Osirium's Privileged
Access Management ("PAM") security product. This contract will see Osirium's
services guard against potential threats to the clients IT infrastructure,
such as ransomware attacks, through managing internal and third-party access
to critical servers, applications and networking equipment.

 

This contract was sold via reseller HIC Global in conjunction with one of the
Group's new partners, software distribution firm Prianto, which has a strong
cybersecurity presence with mid-market customers in the UK, across Europe and
North America. Having recently partnered with Osirium, Prianto has won
multiple contracts with the Group for its PAM and Privileged Endpoint
Management ("PEM") services.

 

Whilst the contract is not expected to have a material impact on the Group's
results for the current financial year, the Directors of the Company consider
that it is strategically important in demonstrating the potential demand for
the Group's products in the significant market in the USA.

 

David Guyatt, Chief Executive Officer of Osirium said:

 

"We are delighted to announce this first win in the USA, which represents
further evidence of the opportunity to grow outside of the Group's core UK
market. This contract is strategically important and shows good
referenceability as we continue to expand our footprint in this important
region while working with our network of partners like Prianto to make it easy
for customers to do business. This network forms a core element of the Group's
strategy, both domestically and internationally, and extends the Group's reach
across the five continents in which it operates.

 

"In line with the maturation of the privileged security market alongside the
broadening of the Group's network, Osirium expects to see a continued healthy
pipeline of greenfield opportunities, both in the UK and overseas."

 

 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 (mailto:osirium@almapr.co.uk)
 Kieran Breheny
 Will 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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