Continuing to ride the recent demand for state-of-the-art cybersecurity, software company archTIS (ASX: AR9) has leveraged its recent acquisition of Nucleus Cyber by extending its annual software subscription with the Australian Department of Defence.
The subscription is for the NC Protect product, part of the Nucleus acquisition completed at the end of 2020, which gave the Company a path to expand into the lucrative North American software market.
NC Protect allows for secure document collaboration, giving users the ability to maintain their security remotely, as well as provide additional controls over access rights, whilst integrating with commonly used programs such as Microsoft Office and Dropbox.
“This renewal demonstrates the strategic value of the Nucleus Cyber acquisition. It provides our customers with a range of policy enforcement products to secure and share their information assets,” said archTIS Managing Director, Daniel Lai.
“The merger now means archTIS can provide award-winning products to secure our clients Microsoft business applications. The Defence renewal validates the quality and uniqueness of NC Protect. This renewal and our recent Kojensi sales strongly position archTIS as a key provider of information security products to the Australian Department of Defence.
“This is an exciting time for archTIS as it continues to successfully execute our strategy to become the global leader of policy enforcement in the protection of sharing of sensitive and classified information.”
The Australian government made cyber defence a priority in 2020, pledging a $1.35b spending boost in the wake of an increasing number of ‘state-based’ cyber attacks.
The contract for the NC Protect subscription renewal is $148,866. Which brings the company’s recurring annual subscription revenue from the Department of Defence to $950,000.
Nucleus Cyber was acquired by archTIS in September 2020 for $6.25m upfront and $3.25m deferred consideration where NC Protect is a popular in North America and actively promoted by Microsoft under a co-seller agreement.
Conor Murphy is the Marketing Coordinator at TradersCircle
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