Cloudified Holdings Limited

Management Reports • Aug 17, 2020

National Storage Mechanism | Additional information

RNS Number : 2462W

Falanx Group Limited

17 August 2020

FALANX GROUP LIMITED

("Falanx", the "Group" or the "Company")

Strategic Contract Win

Falanx Group Limited (FLX.L), the AIM listed provider of cyber security and strategic intelligence services, is pleased to announce that it has been awarded an important contract for the provision of cyber security services to one of the major suppliers of services to the UK public sector.

Following the recent launch of Triarii, its new cyber security platform, the Company has secured this strategically significant order to supply Triarii to several UK public sector organisations through a new reseller partnership.  

Whilst the immediate recurring revenues are relatively modest at this stage, these are expected to grow over time. The Triarii service is a strategic component of the customer's platform and, as that platform grows in size, revenues are expected to grow alongside. The opportunity for deployment of additional services, as and when they arise, will also lead to incremental recurring revenues from solutions such as the Group's Managed Endpoint Detection and Response.

Mike Read, CEO of Falanx, commented: "We are delighted to have won this contract with such a prestigious supplier of services to the UK public sector. This is an important development as, not only does this open another potentially significant sales channel, it also provides further customer validation of Triarii following a stringent series of trials and technical evaluations.  Triarii is now live and is servicing multiple customers."

Enquiries:

Falanx Group Limited Alex Hambro Chairman Mike Read CEO Ian Selby CFO	Via IFC
Stifel Nicolaus Europe Limited, Nomad and Joint Broker Alex Price / Fred Walsh	+ 44 (0) 207 710 7600
Turner Pope Investments (TPI) Limited, Joint Broker Andy Thacker/Zoe Alexander	+44 (0) 20 3657 0050
IFC Advisory Ltd, Financial PR & IR Graham Herring / Zach Cohen	+44 (0) 203 934 663

About Falanx

Falanx Group Limited, is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

END

CNTSFUFMLESSELA