New Patent Granted

RNS Number : 4457N

Osirium Technologies PLC

01 February 2021

 

1 February 2021

RNS REACH

Osirium Technologies plc

("Osirium" or "Group")

New patent granted

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce it has been granted a new patent in the field of authentication services by the US Patent and Trade Mark office.

The patent (United States Patent number: 10,826,887), approved in November 2020, is for Osirium's 'Shadow Authentication' technology. This new technology uniquely addresses a challenge experienced by Managed Security Service Providers (MSSPs) in situations where they are not permitted direct access to their customers' Active Directory servers.

Shadow Authentication allows MSSP customers to request a password change that will be intercepted and processed by Osirium's Privileged Access Management platform, Osirium PAM. The benefit for the MSSP is that its operators or system administrators will not be interrupted by the request and do not need to know either the previous password or the customer's password rules. Likewise, the benefits for the end customer are improved time savings, greater security and enhanced confidence from the certainty and knowledge that staff at the MSSP never have sight of their passwords.

The patent builds on Osirium's track record of innovation in privileged access, including a series of patents previously granted for credential management.

David Guyatt, Chief Executive Officer, commented : "Our continuing commitment to innovation has been a key factor in our success over the years. Our customers value it as it gives them new ways to address increasing security challenges, and our partners look for it, as it gives them compelling competitive differentiators."

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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 / Richard Short
Alma (Financial PR) David Ison / Josh Royston / Kieran Breheny	Tel: [phone]

Notes to Editors:

Osirium Technologies plc (AIM: OSI) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Security solutions. 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 Privileged Access Management solution. Osirium's award-winning 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. Building on Osirium's Privileged Task Management module, in May 2019 Osirium launched Privileged Process Automation, providing a highly-flexible platform for automating essential IT processes to set a new benchmark in IT Process Automation. This was followed by the launch of Privileged Endpoint Manager in December 2019, bringing the total portfolio to three complementary solutions.

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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