Having successfully fulfilled various Government deals as a subcontractor, cybersecurity company WhiteHawk (ASX: WHK) is stepping up their game having won a 5-year US Federal contract as a prime supplier.
The deal is valued at USD $580,000 per annum with an additional $600,000 per annum Option available if the Government elects to increase their cybersecurity needs.
Under the agreement, White Hawk will provide the US Federal Government Chief Information Security Officer with cyber risk scorecards via an integrated risk management dashboard. This will also include ongoing access to a Cyber Analyst for risk research and discovery, alerts, focused analytics, ecosystem maps, risk mitigation and portfolio assessments.
The cyber risk scorecards will initially be applied to 150 – 300 Government vendors, virtually and remotely on a quarterly basis.
“After a very successful Proof of Value early last year, now we are putting in place our first 5-year Cyber Risk Radar contract with a sophisticated US. Government CIO, who will work with us to take the capabilities of our platform and virtual services to the next level,” said WhiteHawk Executive Chairman, Terry Roberts.
The new contract continues WhiteHawk’s strong relationship with the US Government having previously completed services for three other Government bodies as a subcontractor.
Using WhiteHawk’s Cyber Risk Radar approach, the company primarily uses externally available data which is non-invasive and does not require access to internal IT assets and configurations in order to deliver its services.
Through the COVID-19 pandemic of 2020, increased online activity in homes has resulted in a significant rise in cybercrime activity and online scams.
WHK shares responded very well to news of WhiteHawk’s prime contractor deal for shares to open at $0.125 this morning, a 32.9% rise on their previous $0.094 close.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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