Osirium Tech Regulatory News (OSI)

14 August 2019

Osirium Technologies plc

("Osirium" or "Group")

First contract win for Opus

Osirium (AIM: OSI), a leading vendor of cloud-based cybersecurity software, is pleased to announce the first customer for its new innovative privileged robotic process automation solution, Opus, which was launched in May of this year.

The contract is with a leading asset manager who recently renewed Osirium's full PxM platform for a further three-year term, as announced in May. The customer selected Opus to reduce manual processes, speed up internal customer service and improve consistency of service. Up until now, IT administration operations, such as creating or updating user and system accounts, are repeated many times per day, taking up to an hour each to complete and needing senior staff involvement. End-users become frustrated because of delays in provisioning or updating accounts, with execution of changes proving inconsistent, and the IT organisation wanting to free up resource to deliver business changes faster.

Opus will augment the client's existing ServiceNow infrastructure to automate these tasks. Now, less-experienced IT engineers can perform software updates securely and reliably, with tasks being completed accurately and efficiently in just a few minutes. This will result in improved customer satisfaction, consistency and reporting, and capacity in the team will be freed up to allow more experienced staff to focus on delivering higher-value business initiatives.

David Guyatt, Chief Executive Officer, commented: "Osirium's privileged account security strategy has been significantly strengthened with the launch of two more privileged security products, Opus and PEM which, together with Osirium's PxM platform, maximise our ability to combat privileged security threats, wherever the security concerns may be. This contract is an excellent example of how we can broaden our relationship with existing customers as they appreciate the quality of our products, their ease of implementation and the benefits that they can deliver. Opus has wide applicability and is generating interest across DevOps, NetOps and outside IT in business teams."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by David Guyatt, CEO.

- Ends -

For further information:

Notes to Editors:

About Osirium

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 Management ("PAM") software. 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 PAM solution. The team has developed the concept of a Virtual Air Gap to separate users from passwords. Built on Robotic Automation technology, Osirium's 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 "Opus", providing a highly-flexible platform for automating essential IT processes to set a new benchmark in Privileged IT Process Automation.

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