Osirium Technologies wins contract with 'major' UK telco

Cybersecurity software group Osirium Technologies has secured a "significant contract win" for its privileged access management technology.

Osirium said on Wednesday that a "major" UK phone and broadband services provider had purchased an initial 36-month enterprise license for its PAM platform, which induced both consultancy and training services from the group itself.

The AIM-listed group stated its new mystery customer had chosen it following a competitive bid against a number of other vendors.

As a result of the win, Osirium now anticipates that bookings for the full-year will be ahead of current market expectations.

Chief executive David Guyatt said: "2020 has inevitably presented us, our customers and partners with a number of challenges. I am therefore delighted that, as we approach the year-end, this significant contract win against a range of competitors is a further endorsement of Osirium's strategy, technology and expertise in addressing our customers' security concerns.

"With more and more specialist security integrators this year selecting Osirium as their PAM provider of choice, I am particularly pleased that this win has been secured with yet another excellent new reseller partner."

As of 0940 GMT, Osirium shares had rallied 15.85% to 23.75p.