Narf Industries PLC (LSE:NARF), a US-based and London-listed small-cap cyber security firm, saw its shares rise as it landed a new $6.8 million contract with the US Government's Defense Advanced Research Projects Agency (DARPA).
A staged three-year deal will pay out $2.6 million in the first state, starting this year, whilst the subsequent stages are contingent on performance milestones and budget approvals.
It will be part of DARPA’s INGOTS programme which is intended to “identify and address high-severity, chainable vulnerabilities before they can be exploited by attackers.”
"We are delighted to be part of DARPA's pioneering INGOTS programme, reaffirming Narf's commitment to safeguarding critical systems against sophisticated and evolving cyber threats,” chief executive Steve Bassi said in a statement.
Narf Industries shares rose 17.25% in Thursday morning’s trade, changing hands at 0.47p.