Osirium Tech Regulatory News (OSI)

15 October 2020

RNS REACH

Osirium Technologies plc

("Osirium" or "the Group")

Competitive contract win for PAM and PEM solutions with leading healthcare provider

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a contract win with a leading provider of health services across the UK. The order was secured against competition from two other suppliers of Privileged Access Management ("PAM") technologies.

The new customer has made a multi-product purchase including Osirium's PAM solution and 5,000 endpoints of Osirium's Privileged Endpoint Management ("PEM") platform. This combination provides them a complete solution from protecting privileged user accounts through to protecting privileges at the end-point level. Osirium's Professional Services team will assist with the implementation and rollout of both products as part of the contract. 

Key factors in both Osirium PAM and Osirium PEM being selected over competitors were Osirium's collaborative and consultative engagement model and approach to the project. The solutions' simplicity of deployment and ease of use were also large factors in the decision as the customer is looking to deploy rapidly to gain an immediate return on investment. The transparency of the licensing model made it straightforward to see what was included in Osirium's offering, and the ability of Osirium's PAM platform to securely automate essential processes was also a key differentiator.

The Osirium solutions are to be implemented to address multiple operational and security challenges. Addressing potential threats to the IT infrastructure, such as ransomware attacks, Osirium PEM will control and remove local user admin rights, while the PAM platform will be used to control and audit internal and third party access to critical servers, applications and networking equipment, including the ability to automate simple and complex IT tasks.

David Guyatt, Chief Executive Officer, commented: "Having finished the previous quarter with a string of excellent orders from new clients, I am delighted that Osirium is starting the new quarter in a similar vein with another new customer and competitive win.

Our industry regularly talks about the 'Principle of Least Privilege' - delivering security by permitting only the minimum level of privileged access. By offering the complete Privileged Access Security portfolio of solutions, we help customers make this principle a reality, and this new contact win is a clear illustration of that philosophy. Osirium PAM secures the vital infrastructure and Osirium PEM provides the balance between infrastructure and users, making the desktop safer than ever."

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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.