Falanx Group secures strategically significant order

Falanx Group Ltd (LON:FLX), the AIM listed provider of cyber security and strategic intelligence services, has announced that it has been awarded an important contract for the provision of cyber security services to one of the major suppliers of services to the UK public sector.

Following the recent launch of Triarii, its new cyber security platform, the Company has secured this strategically significant order to supply Triarii to several UK public sector organisations through a new reseller partnership.  

Whilst the immediate recurring revenues are relatively modest at this stage, these are expected to grow over time. The Triarii service is a strategic component of the customer’s platform and, as that platform grows in size, revenues are expected to grow alongside. The opportunity for deployment of additional services, as and when they arise, will also lead to incremental recurring revenues from solutions such as the Group’s Managed Endpoint Detection and Response.

Mike Read, CEO of Falanx, commented: “We are delighted to have won this contract with such a prestigious supplier of services to the UK public sector. This is an important development as, not only does this open another potentially significant sales channel, it also provides further customer validation of Triarii following a stringent series of trials and technical evaluations.  Triarii is now live and is servicing multiple customers.”

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