Cognosec AB (publ) (“Cognosec” or “The Company”), Nasdaq: COGS, a leading supplier of solutions within Cyber Security with operations in Europe, Africa and the Middle East, has signed an agreement with a major South African financial institution for delivery of Cybersecurity solutions and services for an ordervalue and revenue in 2016 of around ZAR 13 M, corresponding to EUR 0,9M*.
This contract is one of two contracts mentioned in the Company´s interim report for the third quarter that originally was anticipated to materialize during the third quarter 2016.
The contract, which covers an initial program, is over three years, and confirms the Cognosec Group’s mission to build profitable long-term relationships with its customers and points to the growing importance of Cybersecurity. Demand for network security services is ever increasing, as cybercrime becomes an issue that all companies and organisations worldwide have to protect themselves against.
A specialist in Cybersecurity and the market leader in Africa, Cognosec is perfectly placed to provide the solutions sought out by large organisations and financial institutions anywhere in the world. This contract is reflective of the company’s prestigious and growing customer base and underlines how the market values Cognosec services.
– We are delighted to broaden and deepen our business relationship with a very valued and respected customer,” said Robert Brown, CEO of Cognosec AB. “No leading financial institution can afford to take risks when it comes to protecting its assets. That’s where Cognosec comes in – to align technical expertise, skilled employees and our extensive experience to create an effective and fail-safe Cybersecurity environment.
* Based on current exchange rates.