Falanx scores cybersecurity contract with 'major' supplier to UK public sector

Cybersecurity group Falanx has been awarded a contract for the provision of its services to "major suppliers" of services to the UK public sector.

Falanx said it had secured the "strategically significant order" following the recent launch of Triarii, its new cybersecurity platform.

The AIM-listed firm said the deal would see it supply Triarii to several UK public sector organisations through a new reseller partnership.

While Falanx noted immediate recurring revenues from the deal were "relatively modest at this stage", they are expected to grow over time.

Chief executive Mike Read said: "We are delighted to have won this contract with such a prestigious supplier of services to the UK public sector.

"This is an important development as, not only does this open another potentially significant sales channel, it also provides further customer validation of Triarii following a stringent series of trials and technical evaluations."

As of 1015 BST, Falanx shares had shot up 16.60% to 1.84p.