Osirium Tech Regulatory News (OSI)

8 October 2020

RNS REACH

Osirium Technologies plc

("Osirium" or "the Group")

Competitive contract win with major UK Retailer

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a contract win with a major UK high street retailer. The contract win was secured in a competitive bid against four other Privileged Access Management ("PAM") vendors and displaces an incumbent supplier, highlighting the strength of Osirium's functionality and integrated PAM platform.

The new client has purchased a 60-month term license for the Osirium PAM platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules. Consultancy and training from Osirium Professional Services are included in the contract.

The Osirium PAM platform has been selected after a three-month sales cycle, including a competitive Proof of Concept. Key selection criteria included ease of deployment and use, ability to connect seamlessly to a mixed Windows and Linux environment, highly flexible and resilient architecture, and ability to manage privileged account rotation on a large scale.

The initial priorities for the client are securing and auditing internal access to the IT infrastructure. This includes controlling access to the systems that manage devices and user accounts (including Active Directory). The client also intends to use Osirium PAM with multi-factor authentication, to integrate and automate complex and essential processes.

David Guyatt, Chief Executive Officer, commented: "I am delighted that Osirium has won another prestigious household name client in the retail sector. The fact that we have won against four other PAM competitors, including displacing an incumbent supplier, is further evidence of customers recognising the completeness of the Osirium proposition. The completion of the sales process in under three months is an illustration not only of increasing demand for PAM, but also of the effectiveness of our customer engagement model. We look forward to updating the market on further new contract wins and developments in due course."

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Notes to Editors:

Osirium Technologies plc (AIM: OSI) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Security solutions. Osirium's cloud-based products protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.

Osirium has defined and delivered what the Directors view as the next generation Privileged Access Management solution. Osirium's award-winning Privileged Task Management module further strengthens Privileged Account Security by minimising the cyber-attack surface and delivering an impressive return on investment benefits for customers. Building on Osirium's Privileged Task Management module, in May 2019 Osirium launched Privileged Process Automation, providing a highly-flexible platform for automating essential IT processes to set a new benchmark in IT Process Automation. This was followed by the launch of Privileged Endpoint Manager in December 2019, bringing the total portfolio to three complementary solutions.

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016. For further information please visit www.osirium.com.