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Highlights
- AR9 has won a contract from the Australian Department of Defence.
- This is the largest sale in archTIS’ history and continues the company’s strong growth trend in the defence space.
- The contract will solely drive considerable revenue into FY23 and beyond.
Shares of archTIS Limited (ASX:AR9) shot up to AU$0.16 on 23 June 2022 (12:17 PM AEST) with a massive gain of about 60%. The rally in the share price followed a significant update regarding a new defence contract inked by the company.
archTIS provides innovative software solutions globally for the secure collaboration of sensitive information. The company has award-winning data-centric information security solutions that safeguard the world’s most sensitive content in the government, defence, enterprises, supply chain, and regulated industries through attribute-based access and control (ABAC) policies.
The largest sale in AR9 history
archTIS has won a contract worth AU$7,031,750 from the Australian defence department to expand and enhance the existing deployment of Kojensi within Defence. Kojensi, one of the company’s products, is a multi-government certified platform for the secure access, sharing and collaboration of sensitive and classified information.
The development will establishe Kojensi for future growth of users and licencing as Defence expands the platform across additional sites.
Of the total, AU$3,438,050 in recurring revenue is payable over two years along with AU$3,593,700 for services, support, and hardware, payable on delivery.
The term of the contract starts from 23 June 2022 and will continue till 30 June 2024.
Commenting on the contract, archTIS Managing Director and CEO Daniel Lai said, “We are pleased to close the largest sale in the company’s history for $7.03M. Over the past 18 months, we have been actively targeting global defence agencies and the broader defence industry due to their compelling need to secure highly sensitive information. This target market strongly aligns with the unique value proposition our products offer. Kojensi and NC Protect are filling a critical need for zero-trust information security in the well-funded, Defence and intelligence market and the industries that support them.”
Continued success in Defence space
The new contract continues archTIS’ strong growth trend in the defence and national security space. Further, the new contract expands upon the use of NC Protect in the Defence Information Environment (DIE).
Recently, the company entered a KPMG-led systems integration consortium, which was awarded Tranche 1 of the OneDefence Data Program.
According to Kurt Mueffelmann, Global COO of AR9, the sale to the Australian defence department will solely drive considerable revenue into FY23 and beyond.
