VANCOUVER, British Columbia, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Premier Managed Services Provider, VirtualArmour International Inc. (the "Company") (CSE:VAI) (3V3:F) (OTCQB:VTLR) announced today it had finalized a three year, recurring revenue contract for the expansion of network and security managed services with an existing client in the retail services sector. The expanded contract has a total value of USD$650K over its term.
The average cost of a data breach in the United States rose for the fourth straight year, hitting $225 per compromised record--the highest it has been since 2006, when the Ponemon Institute began to publish research on the topic.
"For large organizations with potentially thousands of active locations to support, the risk of security breaches at "endpoint devices" (internet-capable computer devices) has become a key concern. Preventing issues relating to endpoint breaches requires not only the right technology solutions, but the right specialists in place, able to work seamlessly with internal teams," said Kyle Duffy, VP of Customer Experience at VirtualArmour. "Our technical teams are able to analyze scenarios in which multitudes of users are accessing desktops, logging into email, corporate systems, browsing the internet and/or accessing apps and design and manage solutions able to protect organizational networks from all of the direct and indirect threats that these activities will attract."
Due to the sensitivities inherent within its industry, VirtualArmour's policy is not to disclose specific client details in press releases.
VirtualArmour is an international cybersecurity and Managed Services provider that delivers customized solutions to help businesses build, monitor, maintain and secure their networks.
The Company maintains 24/7 client monitoring and service management with specialist teams located in its US and UK-based security operation centers ("SOC"). Through partnerships with best-in-class technology providers, VirtualArmour delivers only leading hardware and software solutions for customers that are both sophisticated and scalable, and backed by industry-leading customer service and experience. VirtualArmour's proprietary CloudCastr client portal and prevention platform provides clients with unparalleled access to real-time reporting on threat levels, breach prevention and overall network security.
VirtualArmour services a wide range of clients - which include those listed on the Fortune 500 - within several industry sectors, in over 30 countries, across five continents. Further information about the Company is available under its profile on the SEDAR website,
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This press release may include forward-looking information within the meaning of Canadian securities legislation. The forward-looking information is based on certain key expectations and assumptions made by the management of VirtualArmour. Although VirtualArmour believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information as VirtualArmour cannot provide any assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release and VirtualArmour disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Source: VirtualArmour International Inc.