Plurilock Security Inc. (TSX-V:PLUR) said its wholly-owned subsidiary, Integra Networks Corporation, has received a purchase order from the Defence Research and Development Canada (DRDC), an operating agency of the Department of National Defense.
“We are excited to be working with our first Canadian government customer,” said Ian L. Paterson, CEO of Plurilock in a statement. “As a Canadian company, it’s great to be able to take the experience that we have gained in the US and apply it within our domestic market."
"This is a key validation for the DEFEND product and we are looking forward to working with more Canadian governmental clients. This deal, having come about as a result of Plurilock acquiring Integra Networks, clearly demonstrates the viability of our M&A and growth strategy," he added.
Per the terms of the purchase order, Integra Networks will provide DRDC with Plurilock DEFEND, as well as a combination of material and services including software licenses and maintenance support services.
READ: Plurilock Security says Aurora Systems subsidiary received purchase orders from several organizations in July totaling US$2,984,599
DRDC supports the Canadian Armed Forces who serve on the sea, on land, and in the air with the Navy 1, Army 2, Air Force 3 and Special Forces 4 to defend Canadians’ interests at home and abroad.
As outlined in Canada’s 2021 Federal Budget, the Canadian government proposed to allocate C$330.6 million and C$456.3 million over five years to defending taxpayer information against digital breaches and enhancing and protecting its cyber networks, respectively.
Canada’s National Cyber Security Action Plan, funded through the 2018 budget, allocated C$507.7 million from 2019 to 2024 with a C$108.8 million ongoing commitment moving forward, demonstrates that the Canadian government intends to make significant investments in cybersecurity and IT technology to support the initiatives outlined in the plan.
With the growing cyber threat and shift to zero trust security, Plurilock said it intends to support this demand for cybersecurity technology at the federal level, in addition to serving enterprises across other key industry verticals.
Contact the author at jon.hopkins@proactiveinvestors.com