leadf
logo-loader
viewarchTIS Ltd

archTIS higher on winning landmark $4.2 million Australian Department of Defence Joint Capabilities Group contract

This is the largest contract to date for the Canberra-based technology company and aims to reduce risk to and inform Defence on future capability decisions and acquisitions.

archTIS Ltd - Archtis wins landmark $4.2 million Australian Department of Defence Joint Capabilities Group Contract
The contract will begin immediately with an expected duration of around 9-12 months

archTIS Ltd (ASX:AR9) is trading higher after securing a landmark $4.2 million contract with the Department of Defence to perform a risk reduction activity for multi-national information sharing and cross-domain services.

The risk reduction activity will be conducted over the next 12 months and will include development, building and accreditation activities to provide Defence with an information sharing architecture pattern for cross and multi-domain services between different warfighter and Allied partners.

This activity is aimed at reducing risk to and informing Defence on future capability decisions and acquisitions.

Shares were more than 40% higher to 59 cents on strong volume of more than 18 million before closing at 48.5 cents.

“Well-positioned to deliver”

archTIS CEO Daniel Lai welcomed the new contact, stating it was the company’s largest contract to date, evidencing both its growing maturity as well as the department’s commitment to invest in premium sovereign information security capabilities.

He said: “I am delighted that archTIS has been selected to lead this risk reduction activity.

“The need to share, control and trust information in the warfighter domain, between forces and with allies remains a critical requirement and archTIS is well-positioned to deliver on this.”

Valued at $4.2 million

The total contract value is $4.2 million which includes three licences of archTIS Kojensi enterprises platform (600 users) for the enterprise to the value of $760,000 with $3,440,000 in associated implementation services.

This contract will commence immediately with an expected duration of around 9-12 months unless extended.

Quick facts: archTIS Ltd

Price: 0.41 AUD

ASX:AR9
Market: ASX
Market Cap: $71.54 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of archTIS Ltd named herein, including the promotion by the Company of archTIS Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

archTIS Limited KPMG partnership pays dividend as company signs deal with...

archTIS Limited (ASX: AR9) CEO and Executive Director Daniel Lai joined Steve Darling from Proactive with news the company has signed a contract to provide their security services to the Commonwealth National Services Agency. Lai also told Proactive about a new proof of concept deal they just...

on 26/8/20

2 min read