Plurilock Announces US$1.2 Million Critical Services Contract with NASDAQ Listed Semiconductor Manufacturer
Plurilock Security has secured a US$1.2 million contract with a NASDAQ-listed semiconductor client for a 9-month period. The Plurilock Critical Services team will implement Zero Trust Architecture, providing comprehensive cybersecurity services including AI-driven solutions and network infrastructure enhancements. The project includes discovery, solution design, implementation, and support phases, focusing on network security policy, threat mitigation, and disaster recovery planning. The contract aligns with Plurilock's margin expansion and 'land-and-expand' strategy, with expenses and gross margin expected to be consistent with previously reported Professional Services figures. Delivery is scheduled to begin in Q4 2024.
Plurilock Security ha firmato un contratto del valore di 1,2 milioni di dollari con un cliente del settore dei semiconduttori quotato al NASDAQ per un periodo di 9 mesi. Il team di Plurilock Critical Services implementerà una Architettura Zero Trust, fornendo servizi di cybersecurity completi, inclusi soluzioni basate su intelligenza artificiale e miglioramenti dell'infrastruttura di rete. Il progetto comprende fasi di scoperta, design della soluzione, implementazione e supporto, con un focus sulla politica di sicurezza della rete, mitigazione delle minacce e pianificazione della ripresa in caso di disastro. Il contratto si allinea con l'espansione del margine di Plurilock e la strategia 'land-and-expand', con spese e margini lordi che si prevede siano coerenti con i dati già riportati sui Servizi Professionali. La consegna è programmata per iniziare nel quarto trimestre del 2024.
Plurilock Security ha asegurado un contrato de 1.2 millones de dólares con un cliente de semiconductores listado en el NASDAQ por un período de 9 meses. El equipo de Plurilock Critical Services implementará Arquitectura Zero Trust, proporcionando servicios de ciberseguridad integrales que incluyen soluciones impulsadas por inteligencia artificial y mejoras en la infraestructura de red. El proyecto incluye fases de descubrimiento, diseño de soluciones, implementación y soporte, centrándose en la política de seguridad de la red, mitigación de amenazas y planificación de recuperación ante desastres. El contrato está alineado con la expansión de márgenes de Plurilock y la estrategia 'land-and-expand', y se espera que los gastos y el margen bruto sean consistentes con las cifras de Servicios Profesionales previamente reportadas. La entrega está programada para comenzar en el cuarto trimestre de 2024.
Plurilock Security는 NASDAQ에 상장된 반도체 고객과 120만 달러 규모의 계약을 9개월 기간으로 체결했습니다. Plurilock Critical Services 팀은 제로 트러스트 아키텍처를 구현하여 인공지능 기반 솔루션과 네트워크 인프라 향상을 포함한 포괄적인 사이버 보안 서비스를 제공합니다. 이 프로젝트에는 탐색, 솔루션 설계, 구현 및 지원 단계가 포함되며, 네트워크 보안 정책, 위협 완화 및 재난 복구 계획에 중점을 두고 있습니다. 계약은 Plurilock의 마진 확장 및 'land-and-expand' 전략과 일치하며, 비용과 총 마진은 이전에 보고된 전문 서비스 숫자와 일관될 것으로 예상됩니다. 납품은 2024년 4분기부터 시작될 예정입니다.
Plurilock Security a signé un contrat de 1,2 million de dollars avec un client du secteur des semi-conducteurs coté au NASDAQ pour une durée de 9 mois. L'équipe de Plurilock Critical Services mettra en œuvre une architecture Zero Trust, fournissant des services de cybersécurité complets, y compris des solutions basées sur l'intelligence artificielle et des améliorations de l'infrastructure réseau. Le projet comprend des phases de découverte, de conception de solutions, d'implémentation et de support, avec un accent sur la politique de sécurité du réseau, l'atténuation des menaces et la planification de la reprise après sinistre. Le contrat s'aligne avec l'expansion de la marge de Plurilock et la stratégie 'land-and-expand', avec des dépenses et une marge brute attendues conformes aux chiffres des services professionnels déjà reportés. La livraison est prévue pour débuter au quatrième trimestre 2024.
Plurilock Security hat einen Vertrag über 1,2 Millionen US-Dollar mit einem NASDAQ-notierten Halbleiterkunden über einen Zeitraum von 9 Monaten gesichert. Das Team von Plurilock Critical Services wird eine Zero-Trust-Architektur implementieren und umfassende Cybersicherheitsdienste anbieten, einschließlich KI-gesteuerter Lösungen und Verbesserungen der Netzwerk-Infrastruktur. Das Projekt umfasst Entdeckungs-, Lösungsdesign-, Implementierungs- und Unterstützungsphasen mit einem Fokus auf die Sicherheitsrichtlinien des Netzwerks, Bedrohungsminderung und Notfallwiederherstellungsplanung. Der Vertrag steht im Einklang mit der Margenausweitung von Plurilock und der 'land-and-expand'-Strategie, wobei die Ausgaben und der Bruttomargen im Einklang mit den zuvor gemeldeten Zahlen für professionelle Dienstleistungen erwartet werden. Die Lieferung ist für das vierte Quartal 2024 geplant.
- Secured new US$1.2 million contract with existing NASDAQ client
- Contract demonstrates successful execution of 'land-and-expand' strategy
- Expansion of high-margin professional services business
- None.
- 9-month agreement expands existing partnership, with potential for additional extensions
- Plurilock Critical Services team to implement advanced AI solutions and network infrastructure
- New contract reinforces Plurilock's margin expansion strategy and "Land and Expand" approach
Vancouver, British Columbia--(Newsfile Corp. - November 26, 2024) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF), a global cybersecurity services and solutions provider, today announced a significant follow-on contract valued at US
Under this agreement, Plurilock Critical Services (PLCS) team will implement Zero Trust Architecture, delivering comprehensive cybersecurity services including next-generation AI-driven solutions and robust network infrastructure enhancements. The project scope will encompass a full-service engagement, beginning with an in-depth discovery phase, followed by solution design, implementation, and ongoing support. Key focus areas will include network security policy development, threat mitigation, and disaster recovery planning.
In connection with this US
The U.S. Government's push to modernize its cybersecurity strategy with a focus on Zero Trust Architecture presents a significant opportunity for Plurilock. As agencies and businesses are mandated to adopt more secure, resilient systems, the demand for advanced, custom solutions from PLCS increases. Plurilock's expertise in areas such as threat monitoring, identity verification, and secure access solutions aligns perfectly with the Government's goal of implementing Zero Trust principles, which prioritize continuous verification and minimizing attack surfaces.
"Our Zero Trust practice continues to attract significant contracts for Plurilock Critical Services, with a reputation for excellence in protecting the sensitive data and intellectual property of top-tier enterprises," said Ian L. Paterson, CEO of Plurilock. "This expanded engagement is a powerful endorsement of our team's value, as our client has extended their trust in us for significant follow-on implementation services. Our strategy to embed skilled personnel on-site supports our 'land-and-expand' model, positioning us to drive further growth and margins within our existing client base."
About Plurilock
Plurilock sells cybersecurity solutions to the United States and Canadian Federal Governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of Critical Services-aiding clients with our expertise to defend against, detect, and prevent costly data breaches and cyberattacks.
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566
Ali Hakimzadeh
Executive Chairman
ali@sequoiapartners.ca
604.306.5720
Sean Peasgood
Investor Relations
sean@sophiccapital.com
647.953.5607
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") related to future events or Plurilock's future business, operations, and financial performance and condition. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231354
FAQ
What is the value of Plurilock's (PLCKF) new semiconductor client contract?
When will Plurilock (PLCKF) begin delivering services for the new US$1.2M contract?
What services will Plurilock (PLCKF) provide under the new semiconductor contract?
How long is Plurilock's (PLCKF) new contract with the semiconductor manufacturer?
