New contract win
UK university selects Osirium PAM to address cyber insurance needs
Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based cybersecurity and IT automation software, is pleased to announce a new contract worth c. £140,000 for a three-year subscription for its Privileged Access Management (“PAM”) solution with a UK university (the “University”).
The University has selected the Group's PAM solution to address requirements for improved security for IT system access, especially by third parties. PAM was a key requirement of its cybersecurity insurance provider and will be used to protect 1,000 devices across the establishment.
With an accelerated purchase, supported by Osirium’s partners Prianto and Academia, the contract was closed within six weeks. The Directors believe that the speed of implementation of PAM and value for money were critical to the selection of Osirium against other cybersecurity vendors.
This contract represents 8.9% of the total bookings achieved by the Group in 2021 and reflects the continuing trend of increasing average contract values from the new clients closed in 2022.
David Guyatt, Chief Executive Officer of Osirium said:
"This is another win for Osirium in higher education, following on from a number of key wins in 2022. We’re especially pleased that not only did we compete successfully against larger vendors but, working closely with our partners, we were able to provide the solution the customer needed in a very short period.
“This sector remains a key focus for the Group and I’m pleased to see our sales process aided through increased reference sites with existing customers. In collaboration with our channel partner network, we continue to identify and engage with other prospects in this space."
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