Plurilock Security Inc. (TSX-V:PLUR) said its wholly-owned subsidiary Aurora Systems Consulting, Inc. has received a $2.8 million, three-year purchase order from a leading US food, facilities and uniform services provider.
Under the terms of the order, Aurora will provide the customer with Fortinet’s global firewall solutions. It also includes a fixed renewal price and enables the customer to make a total of three annualized payments.
“We are delighted to receive this multi-year purchase order from a top-tier U.S. customer, which bodes well for our sales pipeline,” said Ian L. Paterson, CEO of Plurilock.
READ: Plurilock Security earns repeat ‘Buy’ rating from broker Leede Jones Gable after closing of Atrion Communications asset acquisition
Plurilock said the order offers up-selling opportunities as the customer can purchase up to 15% of additional equipment over the three-year period.
The order was secured through Aurora’s expanded operations as a result of its previously-announced acquisition of certain assets and business of Atrion Communications, Inc, it added.
“This order was received as a result of Aurora’s asset purchase agreement with Atrion, which has enabled Plurilock to expand its customer base across the East Coast of the United States. Moving forward, we intend to not only secure new clients through Aurora but also, continue capitalizing on new cross-selling opportunities for our high-margin proprietary software solutions," added Paterson.
Separately, Plurilock said it has entered into an amended and restated consulting agreement with a strategic consultant, whereby it has agreed to pay the consultant a fee of $30,000 for services provided in connection with the Atrion acquisition.
Plurilock intends to settle the fee through a combination of cash and 78,947 common shares of the company at a deemed price of $0.19 each. The issuance of the shares is subject to TSXV approval.
Plurilock provides identity-centric cybersecurity for today's workforces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction.
Contact the author at jon.hopkins@proactiveinvestors.com