Data443 Wins Multi-Year Contract with Leading Financial Services Organization in Puerto Rico

Rhea-AI Summary

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) has secured a 3.5-year contract with Puerto Rico's leading financial services organization. This agreement includes an upfront payment for Data443's Data Placement Manager, designed to facilitate secure data transfer between organizations. With over 3,000 customers globally, Data443 aims to enhance its offerings, including disaster recovery and DevOps management, to provide additional long-term value. CEO Jason Remillard indicates this deal underscores the trust in their technology amid growing data protection demands.

Positive

• Secured a 3.5-year contract with a major financial services organization.
• Contract includes an upfront payment, enhancing immediate cash flow.
• Data Placement Manager will improve secure data transfer capabilities.
• Strengthens the company's market position with over 3,000 customers worldwide.

Negative

• None.

Long-Term Contract Delivers Secure Data Transfer Services to a Network of Hundreds of Banks and Partners

RESEARCH TRIANGLE PARK, NC, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company, today announced a new 3.5-year agreement with Puerto Rico’s leading financial services organization.

This leading financial services organization has committed to a long-term subscription license that will be paid up-front for Data443’s Data Placement Manager^™, the latest offering in secure data management. Data443’s Data Placement Manager will assist in moving sensitive financial and customer data, which is heavily regulated with lengthy technical and secrecy requirements, between organizations in a highly secure manner on a tightly managed schedule.

Leading the market in high availability solutions, including some installations running for over ten years with no unscheduled downtimes, Data443’s data management platforms continue to garner deep trustworthiness and operational success in the field – with customers and analysts alike.

Jason Remillard, Data443’s Founder and Chief Executive Officer, commented, “Once again, we have succeeded in winning a multi-year commitment from a strong financial institution that places much trust in our capabilities and technology. Moving data between jurisdictions, organizations, and legal zones continues to be a high-priority issue for most organizations, and our new licensing and subscription models continue to attract large commitments. Ensuring not just protection of data in flight – but data at rest and within processing increases the risk and places an additional burden on IT teams and governance organizations. We help to alleviate that and continue to innovate in that space.”

“Our forthcoming offerings – including outsourced DevOps management, disaster recovery, and resiliency services – increase the upsell opportunities on these deals – providing additional long term value for our customers, with additional comfort while reducing the risk of lack of availability of IT staff and training in specialized products,” concluded Mr. Remillard.

Data443 offers several licensing models: individual, small business, and major enterprise bundles. Additionally, there are sell-with bundles that match valuable Data443 products that directly benefit users and enterprises.

Clients can learn more directly at: https://data443.com/data-placement-manager/

About Data443 Risk Mitigation, Inc.

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) is an industry leader in All Things Data Security^®, providing software and services to enable secure data across local devices, networks, cloud, and databases, at rest and in flight. With over 3,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform, or format. Our industry-leading framework helps customers prioritize risk, identify security gaps, and implement overall data protection and privacy management strategies.

For more information, please visit https://www.data443.com

To learn more about Data443, please watch our video introduction on our YouTube channel: https://youtu.be/1Fp93jOxFSg

Forward-Looking Statements 

The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond Data443’s control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in our charter documents; and, the uncertainties created by the ongoing outbreak of a respiratory illness caused by the 2019 novel coronavirus that was recently named by the World Health Organization as COVID-19. These and other important risk factors are described more fully in our reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including under (i) “Part I, Item 1A. Risk Factors”, in our Registration Statement on Form 10 filed with the SEC on January 11, 2019 and amended on April 24, 2019; (ii) “Part I, Item 1A. Risk Factors”, in our Annual Report on Form 10-K filed with the SEC on March 23, 2021; and, (iii) subsequent filings. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

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For Further Information:

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Investor Relations Contact:
Matthew Abenante
ir@data443.com
919.858.6542

FAQ

What is Data443's new contract about?

Data443 has secured a 3.5-year contract with a financial services organization in Puerto Rico for their Data Placement Manager.

How will the contract benefit Data443 (ATDS)?

The contract involves an upfront payment, enhancing immediate cash flow and further establishing Data443's credibility in secure data transfer.

What is the financial significance of the new contract for ATDS?

The upfront payment from the contract is expected to positively affect Data443's cash flow and financial stability.

What services does Data443 offer under this contract?

Data443's Data Placement Manager assists with secure data movement between organizations, ensuring compliance with regulatory requirements.

How many customers does Data443 have?

Data443 serves over 3,000 customers in more than 100 countries.