In the pre-market session today, shares of Intrusion Inc. (NASDAQ: INTZ) are experiencing notable momentum, witnessing an impressive 18.00% uptick to reach a value of $0.4130. It is noteworthy that the stock of Intrusion had previously closed the last session at $0.3500, having exhibited a robust surge of 14.90% on the preceding Monday. The catalyst for this upward trajectory in INTZ stock can be attributed to a strategic and multi-year agreement, which has been contributing to its surge ahead of the market’s opening today.
Intrusion (INTZ) today announced that it has secured a significant $5 million contract with a major telecommunications company. The agreement reaffirms INTZ’s commitment to providing top-notch support through its Intrusion Shield platform for the telecommunications provider’s data centers. The introduction of Intrusion Shield is scheduled to begin in the final quarter of 2023, following the prosperous test program initiated in the early part of that year.
The conditions of this five-year agreement provide an opportunity for potential growth in the utilization of Intrusion Shield, with the chance to generate extra income after finishing the initial project stage. During the third quarter of 2023, Intrusion also finalized four other contracts, all with promising growth potential in various industries.
As a leading provider of cybersecurity solutions aimed at thwarting cyber threats, Intrusion intended to leverage that multi-year partnership to bolster the protection of critical infrastructure against malicious actors. INTZ has been closely monitoring the increasing targeting of data centers across global businesses, and this agreement serves as a testament to the scalability and effectiveness of Intrusion Shield.
In conjunction with this major contract, Intrusion’s recent successes in securing four additional contracts spanning diverse industries during the third quarter underscore the effectiveness of its go-to-market strategy through strategic partnerships. Intrusion (INTZ) plans to share further details about the collaboration with the telecommunications provider once implementation details are finalized, and a public announcement ceremony has been scheduled.
