The Archtis Ltd (ASX: AR9) share price is up 3.5% today after the company confirmed a major contract with Australian Defence.
The post Archtis (ASX:AR9) share price jumps on defence contract appeared first on The Motley Fool Australia. –
The Archtis Ltd (ASX: AR9) share price is jumping today after the company confirmed a $296,000 contract with the Australian Department of Defence.
Archtis shares are 3.57% higher at the time of writing today, trading at 29 cents per share.
Archtis is a Canberra-based company that consults and develops cybersecurity and secure information sharing solutions for government agencies in Australia. Let’s take a look at what this contract involves.
Archtis’ new defence contract
Archtis’ new contract with the Australian government is for software support services for the expanded deployment and broader architectural scope of NC Protect.
NC Protect is a cloud and hybrid-based software package produced by a company called Nucleus Cyber, which allows organisations to automatically discover, classify and secure unprotected or breached data on its servers. One of its valuable assets is it works with mainstream applications, such as Microsoft 365 and Dropbox.
Archtis recently merged with Nucleus Cyber, positioning the company to benefit from both the installation and then management of NC Protect long-term. The contract is effective immediately for a fixed term ending 30 June 2021.
Archtis management pleased with ‘defence ecosystem footprint’
Archtis managing director Daniel Lai welcomed the continued partnership with the Australian government.
I am pleased that our footprint within the Australian Defence ecosystem for NC Protect is quickly expanding. The need to securely share sensitive and classified information is paramount for defence. Archtis portfolio solutions are uniquely able to deliver secure policy-based access and sharing to safeguard even the most sensitive information.
This project provides further validation of our merger with Nucleus Cyber and the synergy between our products.
More about Archtis’ services
Given the huge amount of investor interest around fellow ASX defence-linked share Nuix Ltd (ASX: NXL), Archtis has historically traded a little more under the radar. The company produces security solutions for supply chain, enterprises and regulated industries through attribute-based access and control (ABAC) policies.
Its main product is Kojensi, a multi government-certified platform for the secure access, sharing and collaboration of sensitive and classified information. As mentioned, it now has control of NC Protect for enhanced information protection for file access and sharing, messaging and emailing of sensitive and classified content across Microsoft 365 apps, Dropbox, Nutanix Files and Windows file shares.
Archtis share price snapshot
The Archtis share price has risen 11% in the past week alone and is up 286% over the past 12 months.
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Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.