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05 Feb 2021 | 08:07

Falanx signs new contracts for Triarii offering, applies for CBIL

(Sharecast News) - Cyber-security firm Falanx Group said on Friday that it has signed up five new customers for it its enhanced cyber-security monitoring across a range of sectors since November 2020. Falanx, which stated it had also inked several extensions to contracts for Triarii, its enhanced cyber-security monitoring service, said the new deals "clearly" illustrated "the universal appeal" of its Triarii offering. T

The AIM-listed group said the division had also maintained "the strong performance" of its penetration testing business, which had traded "materially above" the pre-Covid-19 sales order run rate achieved early in 2020.

In total, Falanx said the order value across all of its new contracts was in excess of £700,000, of which approximately £400,000 will benefit the 2021 calendar year, and highlighted that its order pipeline remained "strong", with similar prospective sales for both penetration testing and security monitoring.

Falanx also added that it was in discussions with a specialist lender for the provision of a UK Government-backed coronavirus business interruption loan to enable it to make earnings enhancing acquisitions and support organic growth.

As of 1005 GMT, Falanx shares were up 12.42% at 1.35p.
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