Falanx Group Ltd (AIM:FLX) Contract wins

Falanx (AIM:FLX), the global intelligence, security and cyber defence provider, announces multi-year contract wins.

International Contract Win

The Board is pleased to announce a new MidGARD service contract with a total revenue value of £700,000.  An award-winning UK Top 20 International law firm has signed a 3-year managed service contract with Falanx to deliver advanced security monitoring of its entire global estate.

The Chief Information Security Officer (CISO) of the firm said “we are delighted to sign up to the MidGARD service. We believe we’re disrupting the traditional approach to security in the legal sector with regard to information security. Falanx was set apart from their competitors because of their market leading technology and business partnering approach.”

Contract Expansion

The Board is also pleased to announce a newly awarded 3-year managed Cyber Security service contract. This contract is an expansion of the existing estate of a valued client resulting in its value growing from £250,000, to generate more than £380,000 of revenues.

Mike Read, Chairman and CEO, commented:

“I am delighted to report the continuing sales momentum of our highly regarded MidGARD service, further enhancing visibility of recurring revenues over the next three years. Our pipeline of similar opportunities continues to grow and I look forward to announcing further contracts in the near future”

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