- Plurilock Security (TSXV:PLUR) won three-year sales order against a competitive market
- Sale will provide a cloud operating model that integrates scalability and flexibility of a public cloud with the security and reliability of a private cloud
- Engagement is expected to strengthen Plurilock’s relationship with the agency, setting foundation for ‘land and expand’ through higher margin critical service
- Plurilock Security stock (TSXV:PLUR) opened trading at $0.42 per share
Micro-cap cybersecurity stock Plurilock Security (TSXV:PLUR) announced a significant three-year sales order valued at C$5.4 million with an existing Canadian law enforcement agency.
This contract was awarded through Plurilock’s subsidiary, Integra Networks Corp.
The agreement consists of a one-year contract with two optional renewal years, allowing for flexibility and continuity in service. The contract will provide the agency with essential software licensing that supports a hybrid cloud operating model, combining the scalability and flexibility of public cloud services with the security and reliability of private cloud infrastructure. This approach ensures that government agencies can meet data residency requirements while maintaining full control over their data and applications, thereby ensuring compliance with national data protection laws.
Achieved through a competitive bidding process, this contract highlights Plurilock’s expertise in delivering specialized cloud solutions that address critical infrastructure needs at a competitive price point. The engagement not only strengthens Plurilock’s relationship with the law enforcement agency but also positions the company as a preferred partner for future projects. Additionally, it opens up cross-selling opportunities for services that can adapt to the agency’s evolving requirements.
“This sale is a perfect example of how Plurilock is enabling digital transformation in the public sector,” Plurilock’s CEO, Ian Paterson said in a news release. “Given the sensitive nature of federal data, control and sovereignty over where data resides are critical. Federal agencies often have legacy systems that cannot be easily migrated to the public cloud, and we are providing our customer with the flexibility required to help modernize their IT infrastructure while minimizing disruptions and maintaining control over sensitive data.”
Plurilock is a global cybersecurity company dedicated to detecting, preventing and defending against data breaches and cyberattacks.
Plurilock Security stock (TSXV:PLUR) opened trading at $0.42 per share and has lost more than 25 per cent since the year began.
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(Top image via Plurilock Security Inc.)