Sydney, Australia – 28 July 2017 – Covata Limited (ASX: CVT) is pleased to announce that it has sold a licensing agreement for its SafeShare product to the Australian subsidiary of a global technology company. The sale is worth $360,000 in revenue over a three-year period, or $10,000 per month.
SafeShare is Covata’s enterprise and government-ready, secure file sharing solution, that uses a patented approach to identity, policy and key management to protect sensitive data wherever it travels – within an organisation’s network, outside an organisation’s network, to mobile devices and to the cloud. It ensures that storage, sharing and retrieval of data remains streamlined, accessible and secure.
Covata CEO and MD, Ted Pretty said: “This deal demonstrates the effectiveness of our new sales strategy, and is illustrative of the current momentum Covata is achieving in the market.
“Enterprise security is no longer just an IT issue, but a significant business-wide concern. C-suite, senior management and risk managers must all consider how their organisations are protecting their own and customers’ sensitive data.
“With mounting pressure from tougher compliance and regulatory requirements, both in Australia and overseas, there is growing recognition of the need to ensure that sensitive information is safely secured both in transit and where it is stored. The application of encryption at a data-level ensures that even if your perimeter or network security is breached, individual files are encrypted and protected,” Pretty said.
The deal was led by Derek Brown, Covata’s recently appointed Chief Commercial Officer who commenced his role on 1 July 2017. “SafeShare has been successfully installed at the client site, and will be used by the company’s IT Administrators to securely store and share sensitive data that is specific to each individual customer”, Brown said.
“This is an example of an organisation that understands the significant commercial drivers for addressing data security, and are taking the necessary steps to protect information at a data-level”.
Covata Limited is a global technology brand, listed on the ASX, that provides data and application-level security solutions for enterprise, government and citizens. Our solutions protect, discover, organise, control and audit sensitive information, however and wherever it’s shared.
We ensure security is never an afterthought. Our flagship solution, SafeShare, protects sensitive information at data-level, from the start and at every point of its journey. Safe and efficient sharing of data across internal and external stakeholders, devices, networks and geographic regions is enabled and encouraged. With SafeShare, you have total control, visibility and auditability of your sensitive information.
Media and Investor Relations
VP Marketing, Communications & Investor Relations, Covata
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