Cipherpoint Ltd (ASX:CPT) has entered into an agreement with the US-based Nucleus Cyber Group under which it will resell the US company’s protection solution for data security in the cloud.
As per the agreement, Cipherpoint will resell Nucleus Cyber’s NC.Protect solution for data security in the cloud and this will accelerate the company’s ability to offer products across a wide range of enterprise platforms both on-premises and in hybrid and cloud environments.
The NC.Protect solution complements Cipherpoint’s own cp.Protect data security solution.
Two opportunities identified
The reseller agreement is for an initial 12 months but can roll over for additional 12 month periods and permits Cipherpoint to acquire and resell the NC.Protect product at a typical reseller margin.
Cipherpoint has identified two initial opportunities for NC.Protect - one in the UK for a research company adding additional security to its Microsoft 365 deployment and another in Canada for a customer wanting to securely share documents via SharePoint Online.
NC.Protect operates across Microsoft SharePoint Online, Office 365, Microsoft Teams, Yammer, Dropbox and other such applications.
High growth market
Nucleus is a member of the Microsoft Intelligent Security Association.
Cipherpoint believes that a focus on Microsoft collaboration platforms is key to unlocking access to a high growth addressable market for cybersecurity, governance and compliance.
The data security market is expected to top US$2.8 billion this year buoyed by the growth in cloud-based deployments.