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WhiteHawk shares surge on contract win with US defense industrial base company

The company’s shares closed 20% higher on Friday, at 6 cents.
security imagery
The contract is for supply chain risk management

WhiteHawk Ltd (ASX:WHK) has entered into a contract to provide its 360 Cyber Risk Framework to a US top 12 defence industrial base company for supply chain risk management.

WhiteHawk will provide services including supply chain business risk awareness, alerting and continuous monitoring to the defence company which has $5+ billion in annual revenue.

In addition, WhiteHawk will supply cyber security risk ratings, cyber security risk profile and scorecards for an initial 50 supply chain companies in support of the customer’s current and future federal contracts.

Upon completion of setup and configuration, the customer will have the ability to view and monitor the identified suppliers’ cyber security risk ratings and the comprehensive business ecosystem dashboard that includes business, technical, and security risks.

This initial contract allows for two phases one in 2018 and one in 2019 for up to an initial 50 companies, for a total of US$400,000.

WhiteHawk executive chairman Terry Roberts said: “The US defence industrial base is a top cyber target and its supply chain companies are often the weak link when not effectively monitored and notified of those risks and then provided enablement to address them continuously and in realtime.”

Contract extension with US top 10 financial institution

WhiteHawk has also revealed a six-month contract extension with a US top 10 financial institution, for an additional US$250,000 in revenue

The contract is focused on the continuous monitoring, alerting, and mitigation of the financial institution’s key supply chain companies’ business and cyber risks, across its 50 most critical sub-contractors.

WhiteHawk has penetrated the US government, financial, healthcare, utilities, and now the US defence industrial base sectors and is looking to build in each area from the bridgehead established.

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