Plurilock Grows Cybersecurity Services for S&P 500 Semiconductor Giant

FULL DISCLOSURE: This is sponsored content for Plurilock.

Plurilock Security Inc. (TSXV: PLUR), a global cybersecurity services and solutions provider, has announced the expansion of its professional services engagement with a leading publicly traded semiconductor company listed on both the S&P 500 and Nasdaq 100 indexes.

The follow-on engagement will see Plurilock’s Critical Services team providing enhanced cybersecurity and IT services to the semiconductor firm. These services will encompass several key areas, including Zero Trust, Offensive Security, and Security Operations. The new contract items are valued at an additional US$294,000, increasing the revenue from this ongoing relationship and highlighting the customer’s satisfaction with Plurilock’s services.

“Expanding our services within this customer is a direct reflection of the great work our team is doing and illustrates a key part of our growth strategy to land and expand throughout a client’s operations. Our continued positive relationship with this S&P 500 company shows how Plurilock Critical Services is providing the expertise and skill to secure the world’s top companies against today’s threats.”

Ian Paterson, CEO of Plurilock

In a recent interview on “The Daily Dive,” Paterson discussed the rapidly growing cybersecurity market and Plurilock’s strategic approach to it. He emphasized the company’s focus on providing IT and security solutions to the US and Canadian federal governments, as well as Global 2000 companies.

“Our business model is built on delivering critical cybersecurity solutions that meet the high standards of major enterprises and government bodies,” said Paterson. “We have seen impressive revenue growth and continue to focus on expanding our margins and critical services.”

Plurilock has positioned itself as a key player in the cybersecurity industry, addressing the increasing demand for robust security solutions amid a growing number of cyber threats. The company’s expansion strategy involves deepening its engagements with existing clients, leveraging its expertise to provide comprehensive security measures.

The cybersecurity market has been experiencing significant growth, driven by the escalating frequency and sophistication of cyberattacks. According to a report by Grand View Research, the global cybersecurity market size was valued at US$167.13 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.9% from 2021 to 2028.

FULL DISCLOSURE: Plurilock Security is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Plurilock Security. The author has been compensated to cover Plurilock Security on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

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