Osirium Technologies shares were up 1.2% to 8.1p in early afternoon trading on Monday, after the group announced its first standalone Privileged Endpoint Management (PEM) contract with an international imaging brand.
The software company reported that its new client had selected its PEM solution as part of its Cyber Essentials compliance project, which is set to replace a manual system for managing user accounts.
The three-year contract will see the PEM rolled out to 500 users across the client’s UK operations.
Osirium commented that the PEM technology provided a more effective filter for malware, which is capable of finding its way through local administration rights on computer workstations via corporate networks.
According to Osirium, its PEM product removes the necessity for administrative permissions without adding to user workloads or interrupting workflow.
The PEM reportedly learns which applications require elevated permissions, and elevates only approved applications rather than users.
The technology builds on Osirium’s existing Privileged Access Management (PAM) and Privileged Process Automation (PPA), which are being utilised across a slate of sectors as primary or standalone solutions.
The news follows the group’s announcement on 24 March 2022 about its first PPA-led deal with the Midlands and Lancashire Commissioning Support Unit.
Osirium confirmed that the new PEM customer was found through reseller Softcat and Osirium partner and software distribution company Prianto.
The group commented that while contract is not of a material size to its business, it considers the deal an opportunity to demonstrate the viability of its PEM solution as a standalone product for potential new clients, falling in line with Osirium’s “land and expand” strategy.
“We are delighted to announce our first PEM-only deal today, which reflects the increasing interest in our additional privileged security products as organisations look to safeguard and update their security,” said Osirium CEO David Guyatt.
“With a view to capitalising on this need for greater cybersecurity protection, we are having many more conversations with existing PAM customers and new opportunities around endpoint management, as well as process automation.”