Business
Plurilock Announces DEFEND Product Sale to Canadian Department of National Defence
This is the first sale of DEFEND through Plurilock's Integra Networks This sale occurs mo...
About this update from Plurilock Security Inc
[{"type":"text","content":"Plurilock Announces DEFEND Product Sale to Canadian Department of National DefenceThis is the first sale of DEFEND through Plurilock's Integra NetworksThis sale occurs months after the Company's Integra Networks acquisition, representing increased efficiency with acquisition integration and cross-salesThe DRDC bought DEFEND as an initial sale with expansion opportunities Vancouver, British Columbia--(Newsfile Corp. - August 23, 2022) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and related subsidiaries (\"Plurilock\" or the \"Company\"), an identity-centric cybersecurity solutions provider for workforces, announced today that its wholly-owned subsidiary, Integra Networks Corporation (\"Integra Networks\"), has received a purchase order from the Defence Research and Development Canada (\"DRDC\"), an operating agency of the Department of National Defense.\"We are excited to be working with our first Canadian government customer,\" said Ian L. Paterson, CEO of Plurilock. \"As a Canadian company, it's great to be able to take the experience that we have gained in the US and apply it within our domestic market. This is a key validation for the DEFEND product and we are looking forward to working with more Canadian governmental clients. This deal, having come about as a result of Plurilock acquiring Integra Networks, clearly demonstrates the viability of our M&A and growth strategy.\"Per the terms of the purchase order, Integra Networks will provide DRDC with Plurilock DEFEND, as well as a combination of material and services including software licenses and maintenance support services.DRDC supports the Canadian Armed Forces who serve on the sea, on land, and in the air with the Navy 1, Army 2, Air Force 3 and Special Forces 4 to defend Canadians' interests at home and abroad.Canada's Federal Government Spending on CybersecurityAs outlined in Canada's 2021 Federal Budget, the Canadian government proposed to allocate CA$330.6 million and CA$456.3 million over five years to defending taxpayer information against digital breaches and enhancing and protecting its cyber networks, respectively.Canada's National Cyber Security Action Plan, funded through the 2018 budget, allocated CA$507.7 million from 2019 to 2024 with a CA$108.8 million ongoing commitment moving forward, demonstrates that the Canadian government intends t...