archTIS Limited has entered a contract to further expand the deployment of NC Protect with an Australian Commonwealth national security agency (The Customer). The agency will expand its use of NC Protect to secure information collaboration and sharing within additional branches of the agency. The contract is valued at $868,000 to cover software licences and support over a four-year period at $217,000 of annual recurring revenue. The contract may be terminated for convenience by the Customer by notifying the Company in writing. To date and since inception, the Company has not experienced any contracts being cancelled under such convenience clauses.
Kurt Mueffelmann, Global COO of archTIS, said he was pleased with archTIS’s rapid expansion in the Australian Government with NC Protect. “Our integration and continued partnership with Microsoft allows us to solve complex global information security problems and expand our reach in a time of increasing need for secure collaboration,” Mueffelmann said.
Daniel Lai, CEO and Managing Director of archTIS, added that archTIS has had over $2 million of NC Protect-related sales in the first five months of the calendar year, marking a $1.5 million increase over the entire 2020 calendar year.
“The expanded deployment of NC Protect highlights the value we provide to clients and is more evidence that our commercialisation and acquisition strategy is the right one. This is a great result considering the merger of Nucleus Cyber was only a little more than five months ago,” Lai said.