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Covata Ltd's data encryption solutions gain traction in UK

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Covata Ltd (ASX:CVT), a data encryption security solutions company, has been named as the provider of  encryption software in a tender submitted by a large multi-national corporation (tenderer) to a UK government agency.

Covata provides an extensible platform for data-centric security that enables businesses, government agencies, vendor partners, and service providers to integrate data-centric security into applications, products, and services.

The tender pertains to a software infrastructure project involving health care and other sensitive information.

As part of Covata’s participation in the tender, the company has discussed indicative pricing terms with the tenderer.

The finalisation of Covata’s engagement as the software provider remains subject to the tenderer and Covata entering into a formal reseller agreement.

Covata will make further announcements as to the exact nature, extent and terms of its involvement in the project during the coming weeks.

On 18 March 2016, Covata was added to the All Ordinaries Index (XAO) representing the 500 largest companies by market capitalisation listed on the ASX. This can be a positive step for a company as index listed companies can enjoy increased investment by index fund managers.

 

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Quick facts: Covata Ltd

Price: 0.015 AUD

ASX:CVT
Market: ASX
Market Cap: $10.1 m
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