VANCOUVER, BRITISH COLUMBIA—Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries (“Plurilock” or the “Company”), an identity-centric cybersecurity solutions provider for workforces, is pleased to announce that the Company has signed contract renewals with more than 50 customers worldwide for Plurilock’s recently acquired CloudCodes product in September and October 2022.
These customers are based in various regions around the world including South Asia, Asia Pacific, Latin America and North America. In addition, these customers consist of organizations from different key industry segments such as airlines, eCommerce logistics, online ticketing platforms, manufacturing, pharmaceutical and defence. According to the term of the contracts, each customer is offered the opportunity to upgrade their existing subscriptions to the enterprise plans for Plurilock’s CloudCodes product and license other Plurilock proprietary software solutions, namely DEFEND.
Plurilock’s CloudCodes offering provides one of the most comprehensive cloud security solutions that includes Single Sign On, Identity Access Management, Access Control and Cloud DLP. This enables customers to add a layer of important security controls on top of their enterprise SaaS applications such as Google Workspace, Office 365, Salesforce, Servicenow and more. As a result, this solution enables organizations to protect against unauthorized access to their enterprise data on the cloud and prevent data leakage from their messaging and collaboration platform.
“We are pleased to see multiple existing customers renewing their contracts for Plurilock’s CloudCodes solution, which highlights the robustness of this cloud security product,” said Ian L. Paterson, CEO of Plurilock. “These contract renewals represent a milestone for us following the acquisition of certain assets from CloudCodes that has enabled us to expand our distribution channels and develop new business relationships with customers worldwide. As we continue to build more customer traction for the CloudCodes offering, we intend to unlock new synergies and cross-sell other high-margin proprietary products such as DEFEND to existing customers.”
Plurilock provides identity-centric cybersecurity for today’s workforces. The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction. Plurilock offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division. Together, the Plurilock family of companies delivers persistent identity assurance with unmatched ease of use.
For more information, visit https://www.plurilock.com or contact:
Ian L. Paterson
Chief Executive Officer
Chief Financial Officer
This press release may contain certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) related to future events or Plurilock’s future business, operations, and financial performance and condition. Forward-looking statements normally contain words like “will”, “intend”, “anticipate”, “could”, “should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”, “potential”, “project”, “assume”, “contemplate”, “believe”, “shall”, “scheduled”, and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock’s business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, the success of the Company in obtaining new or extended contracts or orders; the Company’s ability to maintain existing customers or develop new customers; the Company’s ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; and unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. This list is not exhaustive of the factors that may affect the Company’s forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company’s business are more fully discussed under the heading “Risk Factors” in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.