Why the Archtis (ASX:AR9) share price is rocketing up today

The Archtis share price soared 25% higher today after the cyber security company announced a deal with the Australian Defence Force.
The post Why the Archtis (ASX:AR9) share price is rocketing up today appeared first on Motley Fool Australia. –

digital screen depicting padlock overlaid on circuit board

The Archtis Ltd (ASX:AR9) share price has rocketed today as the company announced a landmark deal with the Australian Department of Defence. The Archtis share price soared 25% higher to 52.5 cents in early afternoon trade before dropping back to 50 cents at the time of writing.

What Archtis does

Archtis is a Canberra-based cyber security technology company that specialises in the safe design and development of cloud based, secure information management and collaboration software. Since its establishment in 2006, the company has provided cyber security consulting and infrastructure and software development services to Australian government clients.

In a bid to commercialise its services, Archtis launched its software-as-a-service (SaaS) Kojensi platform last year to service government, defence and commercial clients.

Landmark contract win for Archtis

Archtis’s share price was sent flying today as the company announced a $4.2 million deal with the Australian defence department. It includes three licences of the Archtis Kojensi platform and will be used to perform risk reduction activity for multinational information sharing and cross domain services. The risk reduction activity will be conducted over the next 12 months. It will include development, building and accreditation activities to provide defence.

Furthermore, it will provide an information-sharing architecture pattern for cross and multi domain services between different allied partners. Thus the contract has the potential to springboard Archtis into prominence as its product will be shared with other large allied nations.

This is the company’s largest contract to date, reflecting its growing maturity and the defence force’s commitment to investing in premium sovereign information security capabilities.

Archtis CEO Daniel Lai said:

I am delighted that Archtis has been selected to lead this risk reduction activity. The need to share, control and trust information in the warfighter domain, between forces and with allies remains a critical requirement and archTIS is well-positioned to deliver on this.

What now for the Archtis share price?

The Archtis share price has performed exceptionally well this year to date with the growing awareness around cyber security providing a strong tailwind. Archtis’s share price is currently up 300% so far this year.

These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Archtis (ASX:AR9) share price is rocketing up today appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!