Announcement
Osirium Technologies : Contract win with major Business Energy player
RNS Number : 4345M
Osirium Technologies PLC
08 January 2019
8 January 2019
Osirium Technologies plc
("Osirium" or "Group")
Contract win with major Business Energy player
Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a contract win with the UK arm of a Fortune 500 multinational integrated oil and gas company. The contract will run over 3 years covering software and professional services.
The Group has appointed Osirium to deliver its full PxM platform offering Privileged Account Management, Privileged Task Management and Privileged Session Management modules and associated consultancy services, initially supporting 400 devices.
Two operational issues are driving the initial stages of this project. The first is the clear ability to demonstrate GDPR and Sarbanes Oxley compliance. The second is the need to automate privileged access into the network infrastructure, allowing a more secure approach to managing common privileged tasks on switches and firewalls.
David Guyatt, Chief Executive Officer, commented: "Osirium is delighted to add another prestigious customer to our growing base of clients. This win demonstrates two key aspects of our strategy. Firstly, it underlines how customers are seeing Privileged Access Management as the way forward for managing GDPR and Sarbanes Oxley compliance. Secondly it validates our business model of effectively engaging customers with an outstanding quality of service and the rigorous Osirium Proof of Concept programme."
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For further information:
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Osirium Technologies plc |
Tel: +44 (0) 118 324 2444 |
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David Guyatt, Chief Executive Officer Rupert Hutton, Chief Financial Officer
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Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) |
Tel: +44 (0) 20 7710 7600 |
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Fred Walsh / Neil Shah / Alex Price
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Yellow Jersey PR (Financial PR) Sarah Hollins Henry Wilkinson |
Tel: +44 (0)7764 947 137 Tel: +44 (0)7951 402 336
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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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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