Contract win with Financial Services provider

RNS Number : 8897K

Osirium Technologies PLC

19 December 2018

 

For immediate release

19 December 2018

Osirium Technologies plc

("Osirium" or "Group")

Contract win with major international provider of Financial Services

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a contract win with a leading international provider of fiduciary and administration services.

Under the terms of the contract Osirium will deliver its full PxM Platform including the Privileged Account Management, Privileged Task Management and Privileged Session Management modules and associated consultancy services.  The initial licence is for 400 devices and is set to run for 39 months.

The Osirium solution is being implemented to address a range of business and operational challenges, including:

·     automating tasks to simplify and secure routine and frequently-used activities, as well as to deliver time and cost savings;

·     providing control over internal access for system administrators and shared partner logins;

·     controlling and protecting passwords against Phishing and Malware attacks;

·     auditing and monitoring user access and activity to demonstrate compliance with GDPR and other regulations.

David Guyatt, Chief Executive Officer, commented: "Osirium is delighted to have been awarded this contract. The wide range of business challenges and use cases that we will be addressing  demonstrates the continuously increasing value our innovative approach to cybersecurity delivers to customers."

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For further information:

Osirium Technologies plc	Tel: [phone]
David Guyatt, Chief Executive Officer Rupert Hutton, Chief Financial Officer www.osirium.com
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)	Tel: [phone]
Fred Walsh / Neil Shah / Alex Price
Yellow Jersey PR (Financial PR) Sarah Hollins Henry Wilkinson	Tel: [phone] Tel: [phone]

Notes to Editors:

About Osirium

Osirium Technologies plc (AIM: OSI.L) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Management ("PAM") software. Osirium's cloud-based products protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.

Osirium has defined and delivered what the Directors view as the next generation PAM solution.  The team has developed the concept of a Virtual Air Gap to separate users from passwords.  Built on Robotic Automation technology, Osirium's Privileged Task Management module further strengthens Privileged Account security by minimising the cyber-attack surface and delivering an impressive return on investment benefits for customers.

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016.  For further information please visit www.osirium.com

 

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