Sydney, Australia – Covata Limited (ASX: CVT) is pleased to announce that it has signed a licensing agreement for ‘CipherPoint Eclipse’ with a national franchised sporting association – a first client win in the sports entertainment sector for Covata. The sale includes an upfront perpetual licence of US$46,000, and US$10,000 annually for ongoing maintenance. This deal is an early win following Covata’s recent acquisition of US-based CipherPoint Software, Inc in August.
The CipherPoint Eclipse data security solution allows organisations to locate personal data, encrypt that information, centrally manage permissions to protect against unauthorised access, and log all permitted and denied access requests. The solution can be used to secure personal data in SharePoint, SharePoint Online, OneDrive for Business, Office 365 and file servers. CipherPoint Eclipse capabilities enhance the native Data Loss Prevention and compliance features in Office 365, providing organisations with the additional specialised controls necessary to centrally manage privacy concerns across multiple environments and technologies.
The sporting association, like every other organisation that collects personal data, is required to protect the privacy of that stored data, and other regulated information stored within its repositories. It must do so to comply with mandatory data privacy regulations, and the EU’s GDPR which comes into effect in May 2018.
Using CipherPoint Eclipse, the sporting association will be able to identify and locate sensitive and regulated data in SharePoint now, with the opportunity to extend this to Office 365 in the future, transparently encrypt that information with tenant-owned keys, centrally manage permissions, and audit and report on all access requests.
Implementing a data security and privacy compliance solution provides the sporting association with the confidence to know that its member information is encrypted and secure, even in the event of a data breach. CipherPoint Eclipse will be used initially at the corporate level of the association, with the opportunity to extend the relationship to franchises under the corporate umbrella.
Covata CEO and Managing Director, Ted Pretty, said: “This deal demonstrates the broad variety of industries requiring data-centric solutions to protect their sensitive information, the effectiveness of our new US sales team and Covata’s growing sales momentum in the US market. CipherPoint Eclipse will not only assist the sporting association with mandatory compliance and peace of mind, but will also ensure that the IT administrators of the association are unable to see or access sensitive information either. It enables this by strictly controlling access to the sensitive data.
“Enterprise security is no longer just an IT issue, but a significant business-wide matter that affects many industries, including the sports entertainment sector. C-suite executives, senior management and risk managers must all consider how their organisations are protecting their own sensitive data, as well as that of partners, customers, members and employees.”