Cognyte Customer in EMEA Safeguards National Interests with $20-plus Million Agreement
Cognyte Software (NASDAQ: CGNT) has secured a one-year support agreement worth over $20 million with a national security agency in the EMEA region. The agreement focuses on providing advanced AI solutions and investigative analytics capabilities to enhance the agency's security initiatives. The customer, a longstanding partner, will receive comprehensive software support services and updates to strengthen their public safety and anti-terror operations. The solution aims to help the agency tackle growing data volumes and increasing operational demands while maintaining scalability for future challenges.
Cognyte Software (NASDAQ: CGNT) ha ottenuto un contratto di supporto annuale del valore di oltre 20 milioni di dollari con un'agenzia di sicurezza nazionale nella regione EMEA. L'accordo si concentra sulla fornitura di soluzioni avanzate di intelligenza artificiale e capacità analitiche investigative per migliorare le iniziative di sicurezza dell'agenzia. Il cliente, un partner di lunga data, riceverà servizi di supporto software completi e aggiornamenti per rafforzare le loro operazioni di pubblica sicurezza e contro il terrorismo. La soluzione mira ad aiutare l'agenzia a gestire l'aumento dei volumi di dati e le crescenti esigenze operative mantenendo la scalabilità per le sfide future.
Cognyte Software (NASDAQ: CGNT) ha conseguido un acuerdo de soporte de un año por más de 20 millones de dólares con una agencia de seguridad nacional en la región EMEA. El acuerdo se centra en proporcionar soluciones avanzadas de inteligencia artificial y capacidades de análisis de investigación para mejorar las iniciativas de seguridad de la agencia. El cliente, un socio de larga data, recibirá servicios de soporte de software completos y actualizaciones para fortalecer sus operaciones de seguridad pública y antiterrorismo. La solución busca ayudar a la agencia a afrontar el creciente volumen de datos y las crecientes demandas operativas, manteniendo a su vez la escalabilidad para futuros desafíos.
Cognyte Software (NASDAQ: CGNT)는 EMEA 지역의 국가 안전 보장 기관과 2천만 달러 이상의 1년 지원 계약을 체결했습니다. 이 계약은 기관의 보안 이니셔티브를 강화하기 위해 고급 AI 솔루션과 조사 분석 기능을 제공하는 데 중점을 두고 있습니다. 오랜 파트너인 고객은 공공 안전 및 대테러 작전을 강화하기 위한 종합 소프트웨어 지원 서비스와 업데이트를 받을 것입니다. 이 솔루션은 기관이 증가하는 데이터 양과 운영 요구 사항에 대응하며 향후 도전에 대비하여 확장성을 유지할 수 있도록 돕는 것을 목표로 하고 있습니다.
Cognyte Software (NASDAQ: CGNT) a conclu un accord de soutien d'un an d'une valeur supérieure à 20 millions de dollars avec une agence de sécurité nationale dans la région EMEA. L'accord porte sur la fourniture de solutions avancées en intelligence artificielle et de capacités d'analyse d'enquête pour renforcer les initiatives de sécurité de l'agence. Le client, un partenaire de longue date, recevra des services de support logiciel complets et des mises à jour pour renforcer ses opérations de sécurité publique et de lutte contre le terrorisme. La solution vise à aider l'agence à faire face à l'augmentation des volumes de données et des exigences opérationnelles croissantes, tout en maintenant la scalabilité pour les défis futurs.
Cognyte Software (NASDAQ: CGNT) hat einen Support-Vertrag über ein Jahr im Wert von über 20 Millionen Dollar mit einer nationale Sicherheitsbehörde in der EMEA-Region gesichert. Der Vertrag konzentriert sich darauf, fortschrittliche KI-Lösungen und investigative Analysemöglichkeiten bereitzustellen, um die Sicherheitsinitiativen der Behörde zu verbessern. Der Kunde, ein langjähriger Partner, erhält umfassende Software-Supportdienste und Updates zur Stärkung seiner öffentlichen Sicherheits- und Antiterroroperationen. Die Lösung soll der Behörde helfen, mit wachsenden Datenmengen und steigenden betrieblichen Anforderungen umzugehen und gleichzeitig die Skalierbarkeit für zukünftige Herausforderungen zu gewährleisten.
- Secured significant $20+ million contract
- Contract renewal with existing customer demonstrates product reliability
- Expansion of services in the strategic EMEA market
- Short contract duration of only one year
- Heavy dependence on government contracts
Insights
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The deal's renewal nature suggests stable recurring revenue and high switching costs for customers, providing revenue visibility. For a company of Cognyte's size, securing large government contracts is important for maintaining growth and market position in the competitive security software space. The expansion of services indicates potential for future contract value growth as data volumes and security demands increase.
The agreement's focus on software support and updates highlights Cognyte's strategic positioning in AI-driven security solutions. Their platform's ability to handle growing data volumes while providing investigative analytics capabilities addresses a critical need in national security operations.
The emphasis on scalability and ongoing updates indicates a robust product development roadmap, essential for maintaining technological leadership in the rapidly evolving security software market. This customer's continued investment validates the solution's effectiveness and suggests strong product-market fit in the high-stakes national security sector.
The national security agency expands its investment in Cognyte’s advanced AI solutions, investigative analytics capabilities and support services
HERZLIYA,
The national security agency is tasked with safeguarding national interests and assets and ensuring the safety of citizens. As threats evolve, bad actors and criminal networks grow more sophisticated, and advanced solutions are needed to keep up with rapidly growing data volumes and increasing operational demands.
Cognyte’s investigative analytics solution has been integral to the customer’s security initiatives for many years. As a national security agency, this long-term customer counts on Cognyte’s advanced capabilities to strengthen public safety and anti-terror initiatives. The new agreement is designed to keep the agency at the forefront of innovation and meet growing data demands today, while providing the scalability needed to tackle future challenges. The agreement includes comprehensive software support services and ongoing updates, strengthening the agency’s capabilities and operational effectiveness.
Gil Cohen, Chief Product Officer at Cognyte, commented, “Cognyte’s solution delivers market-leading advantages in both investigative effectiveness and operational efficiency. These capabilities empower our customers to swiftly identify and neutralize potential threats, ensuring public safety. This proven solution continues to play a critical role in supporting national security efforts, while adapting to evolving challenges in diverse environments.”
About Cognyte Software Ltd.
Cognyte Software Ltd. is a global leader in investigative analytics software that empowers a variety of government and other organizations with Actionable Intelligence for a Safer World™. Our open interface software is designed to help customers accelerate and improve the effectiveness of investigations and decision-making. Hundreds of customers rely on our solutions to accelerate and conduct investigations and derive insights, with which they identify, neutralize and tackle threats to national security and address different forms of criminal and terror activities. Learn more at www.cognyte.com.
Cautionary Statement Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” “views,” and similar expressions.
Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, the impact and contributions of the slate of director nominees Cognyte has nominated, the projected growth of Cognyte’s business, and Cognyte’s ability to achieve its financial and business plans, goals and objectives and drive shareholder value, including with respect to its ability to successfully implement its strategy, and other risk factors discussed from time to time in Cognyte’s filings with the SEC, including those factors discussed under the caption “Risk Factors” in its most recent annual report on Form 20-F, filed with the Securities and Exchange Commission (“SEC”) on April 9, 2024, as amended on April 19, 2024 and in subsequent reports filed with or furnished to the SEC. Cognyte assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241031144590/en/
Media Relations:
Michelle Allard McMahon
Rainier Communications on behalf of Cognyte Software
prcognyte@rainierco.com
Source: Cognyte Software Ltd.
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