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Tech: Secure information sharing firm archTIS lands government contract, shares jump 50pc
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Data security platform archTIS (ASX: AR9) is now officially in business with the Attorney General’s department of the federal government.
The company announced today that the government has signed a 12-month contract for the use of Kojensi Gov, archTIS’ content and collaboration cloud service.
It follows a beta testing arrangement with the Attorney General’s office earlier this year, before the commercial launch of the product in April.
Shares in archTIS rocketed higher in morning trade, climbing almost 50 per cent to 14.5c.
Recurring revenue
archTIS said the deal would provide the company with an important income metric for any SaaS business — recurring subscription revenue.
The government’s 12-month contract includes a further two annual extensions, with a minimum of 50 users on the platform generating guaranteed annual revenue of $30,000.
“With over 1,400 staff employed both in Australia and abroad, the AGD will use Kojensi Gov for secure collaboration with external government and non-government agencies,” archTIS said.
The company said sealing the deal with a high-profile government department would provide an important platform for further contract wins, by providing a simple channel to apply their secure information sharing service to other government departments.
“Last year’s beta program helped archTIS gather important feedback on the usability of the interface and the utility of Kojensi Gov’s features for the secure sharing of classified information,” managing director Daniel Lai told Stockhead.
“archTIS looks forward to working more closely with the Attorney General’s department, and exploring further opportunities to deploy Kojensi Gov with external government and non-government agencies.”
In other ASX tech news this morning:
Shares in blockchain advisory company DigitalX (ASX:DCC) fell in morning trade, after the company announced a strategic shift following a spate of recent board changes. The restructure will establish two business divisions — blockchain consulting & development and funds management. Non-executive directors at the firm “have agreed to a reduction in fees”. Shares in the struggling tech company fell to a 2019 low of 2.6c.
And edu-tech platform Jamison Education Group (ASX:JAN) has signed a contract with the Russian Federal Institute for the Evaluation of the Education Quality (FIOKO). As part of the deal, Jamison will apply its education insights platform across 1,600 schools in 14 regions. The company said commercial returns from the deal would result in revenues of around $195,000. Shares in Jamison were unchanged at 33c.
