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- Shares in archTIS (AR9) soared after the company signed a new contract to expand and enhance the existing deployment of Kojensi with Australia’s Department of Defence
- The contract expires on June 30, 2024 and is for two years with an option for the Department to extend for a further 12 months on the same terms
- The total value of this contract is around $7 million, including $3.48m in recurring revenue payable over the period term with services, support and hardware contracts worth $3.59 payable on delivery
- This contract continues archTIS’ success in Defence, the company says
- Shares in archTIS were up 70 per cent to $0.17 as of 1:33 pm AEST
Shares in archTIS’s (AR9) have soared today after the company signed a new contract to expand and enhance the existing deployment of Kojensi with Australia’s Department of Defence.
The contract expires on June 30, 2024 and is for two years with an option for the Department to extend for a further 12 months on the same terms.
The total value of the contract is around $7 million, including $3.48 million in recurring revenue payable over the period, with services, support and hardware contracts worth $3.59 million payable on delivery.
Managing Director and CEO Daniel Lai said the company is pleased to close the largest sale in its history.
“Over the past 18 months we have been actively targeting global defence agencies and the broader defence industry due to their compelling need to secure highly sensitive information,” Mr Lai said.
“This target market strongly aligns with the unique value proposition our products offer.
“Kojensi and NC Protect are filling a critical need for zero-trust information security in the well-funded, defence and intelligence market and the industries that support them.”
The new award expands upon the existing deployment of Kojensi in the agency as well as the agency’s use of NC Protect in the Defence Information Environment (DIE).
Further, this contract continues archTIS’ success in defence and follows the recent announcement of archTIS’ participation in the KPMG Consortium which was awarded
Tranche 1 of the OneDefence Data Program.
Shares in archTIS were up 70 per cent to $0.17 as of 1:33 pm AEST.
