Shares in cybersecurity specialist Narf Industries PLC (LSE:NARF) fizzed 16% higher to 0.99p after it bagged a contract with the US Department of Defense (DoD) for its social engineering threat detection software.
The London-based company said the US Air Force's will use its software for its Platform One Iron Bank project, which provides centralised and standardised protection across the DoD community to enable a secure software supply chain for all software engineers.
For Narf, the contract is its first under its move to more software as a service (SaaS) revenues.
Under the contract, the UK company will integrate its threat intelligence solution into Iron Bank's development, security and operations infrastructure with the aim of protecting against advanced cyberattacks that employ social engineering tactics to introduce malware and to take-over open source projects and compromise the software supply chain.
Narf's detection and infiltration algorithms will be "crucial" in enhancing Iron Bank's security measures, the company said, using AI techniques, detection and infiltration algorithms to automate data curation, incident summarization, and pattern generation tasks.
"These advancements will significantly reduce the manual workload for analysts, enhance the effectiveness of Iron Bank personnel, and expedite the triage of new threats to maintain project trustworthiness."