Osirium secures three-year cyber-security contract extension

Osirium Technologies has won a three-year contract extension for its PxM cyber security product offering with a "leading" global asset manager.

The cloud-based cyber-security software vendor will receive revenue over the three-year term from the customer, which has has expanded its subscription for 3,000 to 4,500 devices and renewed a 24/7 support arrangement.

The AIM-traded company said the unnamed customer has over £300bn of assets under management and offices in approximately 30 countries

Chief executive David Guyatt said: "We are delighted to have received this order which validates our 'land and expand' strategy. The fact that this customer has expanded its license from 3,000 to 4,500 devices shows that Osirium's technology is at the heart of their strategy for maximising security and demonstrating rigorous compliance."

Osirium Technologies' shares were down 3.10% at 75.10p at 1155 BST.