https://ift.tt/ilZIUP9
Information security provider, archTIS has signed a $2.3 million contract with the Department of Defence, to expand its NC Protect product licences within the agency.
Announced via a statment published to the Australian Securities Exchange (ASX), the contract runs to May 2028 and consists of an initial annual recurring revenue (ARR) increase of $276,000 in the first year, which jumps up to $463,000 in the second year onwards.
Additionally, the deal includes standard government termination clauses based on 30 days written notice of a material breach of contract.
Daniel Lai, archTIS managing director, claimed the contract is an “important step” towards new market opportunities for NC Protect and shows “strong growth for NC Protect with a referenceable target market client”.
“This contract places archTIS in a strong position for future growth as global defence organisations struggle with the challenge to securely share and collaborate on the sensitive and classified information,” he added.
The Defence contract win for archTIS comes nearly a year after it won a $340,000 contract with Australian Naval Infrastructure (ANI) in November to license its Kojensi software product.
That contract, which lasts until 30 October 2026, had a total value of $342,540, with $112,200 as annual recurring revenue for an initial 100 users that can be expanded.
Less than a week before that, it won a deal with BAE Systems Maritime Australia worth $528,000.