Plurilock Security Inc (CVE:PLUR) (OTCQB:PLCKF) issued a corporate update highlighting an “active” first half for the cybersecurity firm, with US$3.2 million in new business signed since April.
The Victoria, British Columbia-based company closed a key acquisition of Aurora Systems Consulting Inc, a leading IT and security solutions provider, in March 2021. Aurora reported US$28.1 million in revenue in 2020 and gross margins of US$1.4 million.
"The first half of 2021 has been an active one for our team," Ian Paterson, Plurilock’s CEO said in a statement.
READ: Plurilock releases Splunk application to support its DEFEND continuous authentication product
"The achievements have positioned us well to empower our customers with solutions to solve critical issues and defend against threats.”
Since acquiring Aurora, Plurilock said it had increased sales velocity, including a US$1.15 million order with the US Department of the Navy; a US$120,000 order with the US Special Operations Command under the SEWP V program and a US$400,000 order from a California state health care agency under the NASPO ValuePoint program. The total cumulative contracts awarded since the acquisition represent US$3.16 million in sales, according to Plurilock.
“Since our recent acquisition of Aurora, we have seen an acceleration in sales activity due to an overwhelming demand from enterprise customers,” Paterson said. “We plan to continue rapid expansion of our business by evaluating synergistic companies that can widen our customer distribution and accelerate time to market for advanced cybersecurity technologies."
Plurilock offers IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas