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Covata signs licensing deal with U.S. sporting association

The company is witnessing growing sales momentum in the U.S. market.
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The software will protect stored data

Covata Ltd (ASX:CVT) has signed a licensing agreement for its ‘CipherPoint Eclipse’ solution with a national franchised sporting association in the U.S.

CipherPoint Eclipse allows organisations to locate personal data, encrypt that information, centrally manage permissions to protect against unauthorised access, and log all access requests.

Significantly, this is the first client win in the sports entertainment sector for Covata.

The sale includes an upfront perpetual licence worth US$46,000. After the end of the first year, US$10,000 is payable annually for ongoing maintenance.

This deal is an early win following Covata’s recent acquisition of US-based CipherPoint Software, Inc in August.

The sporting association will use the service to protect the privacy of stored personal data, and other regulated information stored within its repositories.

It must do so to comply with mandatory data privacy regulations, and the European Union’s general data protection regulation (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, with the opportunity to extend this to Office 365 in the future.

This deal demonstrates the broad variety of industries requiring data-centric solutions to protect their sensitive information and Covata’s growing sales momentum in the U.S. market.

The company’s share price increased circa 76% during the past three months, closing at $0.058 on Wednesday.

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