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Plurilock - CEO, Ian L Paterson - The Market Herald Canada
CEO, Ian L Paterson
Source: Plurilock
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  • Cybersecurity provider Plurilock Security (PLUR) has entered into a non-exclusive reseller agreement with X10 Networks
  • X10 is a provider of IT network engineering solutions, with customers in multiple Canadian provinces and other countries
  • Under the agreement, X10 will promote Plurilock’s products to clients in industries including education, government, healthcare, and industrials
  • This agreement is part of Plurilock’s strategy to attract new customers whilst also retaining its current customers
  • Plurilock Security is up 6.17 per cent and is currently trading for $0.43 per share

Cybersecurity provider Plurilock Security (PLUR) has entered into a non-exclusive reseller agreement with X10 Networks.

X10 Network is a provider of IT network engineering solutions, with customers in multiple Canadian provinces and other countries. The company is particularly well-known in the Canadian province of British Columbia.

Under the reseller agreement, X10 will promote Plurilock’s products and solutions to new clients from a variety of industry backgrounds. These include potential clients in the education, government, healthcare, and industrial sectors.

The agreement is part of Plurilock’s “Land and Expand” strategy, in which it hopes to build a pipeline of new customers whilst also maintaining high customer retention. 

Since listing on the TSX Venture Exchange in September 2020, the company has been pursuing opportunities for expansion and growth. In particular, Plurilock has been looking to assess vertical integration opportunities in fields including financial services, healthcare, critical infrastructure, and government.

Plurilock Security’s CEO, Ian L Paterson, was thrilled to announce the company’s new reseller agreement with X10, which may bring a bevy of new customers with it.

“X10 has established itself as a leading provider of network solutions among its broad range of clients,” he said.

“As a growing company, part of our strategy is to attract and work with channel partners that can help us deliver our state-of-the-art authentication solutions to government, healthcare, and financial services customers in an effort to scale adoption of our product to the broader market,” he added.

Plurilock Security is up 6.17 per cent and trading for $0.43 per share, as of 11:10am EST.

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