Potential bullish reversal off oversold RSI on contract newsPlurilock Secures Plurilock DEFEND Order with California-based Pension Fund
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2022) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries ("Plurilock" or the "Company"), an identity-centric cybersecurity solutions provider for workforces, announced today that its wholly-owned subsidiary, Aurora Systems Consulting, Inc. ("Aurora"), has received a purchase order from a California-based pension fund for the Company's Plurilock DEFENDTM continuous authentication solution.
This transaction represents the first cross-selling purchase order through Aurora for Plurilock's DEFEND technology offering. Per the purchase order, the customer will pay a monthly subscription for the Company's continuous identity confirmation solution based on a fixed number of end-users. This order also includes ongoing maintenance support.
All contracts and orders announced by PlurilockTM and its subsidiaries since January 1, 2022, including the latest orders, represent a combined total of roughly US$5.28 million in sales.
"We are pleased to report the completion of our first cross-sale of Plurilock's cutting-edge DEFEND solution," said Ian L. Paterson, CEO of Plurilock. "This order highlights the strategy we developed following the acquisition of Aurora in April 2021, where we first acquire profitable cybersecurity companies with prominent customers, and then leverage those distribution channels to cross-sell our high-margin proprietary products. We will continue to identify new cross-selling opportunities and vigorously work towards signing new purchase orders for our advanced zero trust identity technology."
This California-based pension fund is an existing Aurora customer that required an identity-centric cybersecurity solution to enhance their system's defense against potential cyber threats. Following a stringent evaluation, the customer selected DEFEND given its robust continuous identity analysis capabilities and zero trust architecture - Plurilock DEFEND's proprietary technology uses micro-patterns in a person's keystroke and pointer behavior to continuously confirm identity every 3 to 5 seconds, ensuring that the person using a device is the authorized user.
Pension and retirement funds are at a heightened risk for a cyber attack as evidenced by instances like the September 2021 breach of a Missouri retirement system with 128,000 active members, where an employee's email account was compromised by an attacker that accessed files containing personal information.1 Additionally, 44% of surveyed Master Trust retirement-related funds reported they experienced a cyber attack between 2019 and 2020, underscoring the need for a zero trust identity solution that will secure access and halt credential compromise.2
About Plurilock
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. Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.
