Source: Reuters
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  • Global cybersecurity company FirstWave Cloud Technology (FCT) announces its contract extensions and expansions with Telstra, FCT’s largest customer
  • The contract has been extended for another two years with an option to extend for an additional two more years, with the scope of the next extension to include more cybersecurity services through FirstWave’s CyberCision platform.
  • In FY2021, FirstWave recorded an approximate $6.5 million in generated revenue from Telstra with 95 per cent being recurring revenues
  • The company says that Telstra will be prioritised as a key account, focusing on improving its sales enablement process with key account management to open significant new revenue streams
  • FCT shares are down 1.64 per cent, trading at 6 cents per share

Global cybersecurity company FirstWave Cloud Technology (FCT) has announced its contract extensions and expansion with Telstra (TLS).

The contract has been extended for another two years with an option to extend for an additional two years, and the scope of the next extension will include additional cybersecurity services through FirstWave’s CyberCision platform.

“We are pleased to deepen our longstanding relationship with Telstra, our largest customer,” FirstWave CEO Danny Maher said.

“The expanded scope of our extended contract reflects Telstra’s increased focus on its cybersecurity offerings and confidence in FirstWave’s capabilities to provide
its customers with best-in-class cybersecurity technology”.

In FY2021, FirstWave recorded an approximate $6.5 million in revenue generated from its partnership with Telstra, with over 95 per cent of the revenue being recurring.

In addition to the extended agreement, the companies have commenced a collaborative marketing campaign to strengthen the marketing and sales of their contracted products through Telstra’s sales team and channels.

FirstWave said it is prioritising Telstra as a key account and is focused on improving its sales enablement process with key account management to open significant new revenue streams.

FCT shares were down 1.64 per cent, trading at 6 cents per share at 3:30 pm AEDT.

FCT by the numbers
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