17th May 2019 09:24
LONDON (Alliance News) - Osirium Technologies PLC on Friday announced a three-year contract extension with a "leading global asset manager".
The customer was not specified, although the cloud-based cybersecurity software company did note that it has more than GBP300 billion of assets under management and offices in more than 30 countries.
The customer's subscription has been expanded to 4,500 devices from 3,000 and will be booked in 2019 with revenue released over the three-year term.
Osirium will deliver its full PxM product offering, which makes sure privileged accounts - those that can install or remove software or access restricted files - cannot be intercepted and that credentials for these accounts are not shared.
"We are delighted to have received this order which validates our 'land and expand' strategy. The fact that this customer has expanded its license from 3,000 to 4,500 devices shows that Osirium's technology is at the heart of their strategy for maximising security and demonstrating rigorous compliance. The customer has also renewed their 24/7 support arrangement with Osirium which testifies to the excellent quality of service we offer them," said Osirium Chief Executive David Guyatt.
Shares in Osirium were untraded at 77.50 pence on Friday morning.
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