Cybersecurity advisory firm WhiteHawk (ASX: WHK) has bagged its second government contract in the space of a week after announcing a seven-year deal with a US company based in Reston, Virginia.
WhiteHawk will help the US company serve a range of US-based clients, supporting their 23,000 employees and providing a range of services including integration, enterprise IT and training within the scope of cybersecurity.
The contract is expected to commence in mid-May with an initial customer evaluation phase preceding an extension that could push the deal into 2025.
Prime won the contract which is valued at around A$40 million, with WhiteHawk’s subcontracted share expected generate US$150,000-300,000 (A$214,000-428,000) per year.
The company has also inferred that optional future expansions by the US Government may also lead to an increase in the scope of services being provided.
Today’s news comes off the back of another contract won earlier this week with a US federal government department that WhiteHawk expects with bring in first year revenues between US$300,000-600,000, and could grow to US$1-3 million per year in the subsequent years.
Securing online territory
As a company, WhiteHawk has created what it calls an “innovative, collaborative, and agile e-commerce ecosystem called The WhiteHawk Exchange.”
The system works as part of a holistic approach designed to stop online crime and fraud by enabling its customers to take pre-emptive action.
Its primary clients include a range of small to medium-sized businesses and organisations – and now include the US Government.
One of its major innovations is leveraging machine-learning for its clients to discover, learn and adapt to evolving cybersecurity threats globally.
The company says it offers a range of direct and indirect services able to receive immediate online matches to top solutions, finding insights, providing affordable vendor products and services, as well as the ability for customers to chat with smart cyber advisors in real-time.
WhiteHawk said that it has attained its latest contract win through the Chief Information Officer (CIO) with the cybersecurity firm tasked with working as the sub-contractor and providing expert support for cyber risk management, executive technical services, architecture, engineering and project management.
Under the terms of the deal, WhiteHawk will also leverage its cyber risk management framework capabilities to provide sensitive risk analytics and mitigation and needed added protections to a “breadth of office and mission functions”.
“We are looking forward to being a part of a forward-leaning team of innovators to refine and take to the next level an important US Government CIO resilience strategy and architecture,” said Terry Roberts, executive chair of WhiteHawk.
Mr Roberts added that “these US Federal Government contract wins highlight the capability of the WhiteHawk team to have further impact across the cyber risk landscape of the US financial, insurance, defense industrial base and utility sectors as well as our sales channels through EZShield, leveraging our CyberPath online decision engine based market place for cybersecurity software and service solutions.”
News of WhiteHawk’s government contract helped its shares to jump up 18% up to $0.105 per share.