A local cybersecurity services and solutions provider this week announced a major contract.
Vancouver’s Plurilock Security, which provides cybersecurity solutions to the United States and Canadian federal governments alongside Global 2000 companies, says the record US$19 million contract is with a semiconductor firm on the S&P 500 index—a key player in global supply chains.
“Being chosen to transform the security operations of a leading S&P 500 enterprise underscores the trust that world-class organizations are placing in our capabilities,” stated Ian Paterson, CEO of Plurilock.
Plurilock’s platform of critical services aid clients to detect, prevent, and defend against data breaches and other cyberattacks. The terms of the contract will see Plurilock modernize and re-platform the customer’s security operations stack, leveraging an AI-native cybersecurity platform to replace an outdated array of partially integrated solutions.
“This record-breaking deal reflects Plurilock’s strategy to expand revenue and margins from non-government clients and demonstrates that the integration of our previous acquisitions is delivering results,” stated Paterson.
The contract, secured through Plurilock subsidiary Aurora Systems Consulting, will also see the provision of two cybersecurity experts for a 12-month period to support the integration and implementation of the new platform.
In addition, Paterson revealed $1.9M in other contracts that follow up on previous work conducted by Plurilock.
“We’re honoured to have earned this opportunity based on the success of our previous work with this valued customer,” Ian L. Paterson said. “Their decision to partner with us once again, this time to modernize their Identity and Access Management infrastructure and enhance phishing prevention strategies, is a testament to the quality and reliability of our solutions.”
Founded in 2017, Plurilock trades publicly as PLUR. Shares in the company are up roughly 8% on the year.
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