- The Department of Defence has appointed Veriluma for its new training contact deal
- The new agreement is worth $760,000 and is an addition to the March 2019 contract worth $1.97 million
- The company will be responsible for supplying hardware to support Defence training courses
- Veriluma shares are currently priced at 4.6 cents apiece
Veriluma Software has successfully extended its current contract with the Australian Department of Defence.
The new agreement is worth up to $760,000 and is in addition to the March 2019 contract of $1.97 million.
Veriluma will supply hardware as a service in support of the training courses conducted at various locations around Australia for its, and other technology vendors, software solutions.
Delivery of the services will begin immediately and be completed in March 2022, with an option to extend for a further two years.
The service will provide laptops and associated peripherals for each student who attends training.
Beginning immediately, the existing Veriluma team will configure the training environment in time to deliver the first course to defence personnel at the end of October 2019.
The team will continue to deliver the hardware as a service and conduct courses at other defence sites around Australia throughout the contract period.
“Our prescriptive AI provides the unique ability to focus decision making in critical and complex areas with confidence,” CEO Elizabeth Whitelock said.
“We are delighted to provide further support in the training. and adoption of Veriluma’s software to Australian Defence and look forward to strengthening our relationship and furthering opportunities for our human centres AI within the Commonwealth,” she continued.
Veriluma’s software allows organisations to anticipate what is likely to happen and identify risks to reduce future potential states.
It supports decisions across a variety of areas from financial services, law, insurance and compliance.
It also assists analysts who work in defence and national security to better understand and respond to threats and attacks.
Veriluma has ended the day up 9.52 per cent with shares priced at 4.6 cents apiece.