Qantas Signs $1.14 Million Contract with FirstWave Cloud Technology
10th Jan 2017
Australian airline Qantas and cloud security company FirstWave Cloud Technology have signed a 1.14 million contract that will provide cloud security for the carrier. The contract will last the next 30 month, but could be extended to an additional 24 month period if both sides are satisfied.
In addition to the $1.14 million, FirstWave could also see the contract bring it an additional incremental monthly income for 30 months of $38,000.
According to the contract, FirstWave will protect Qantas' domestic and international operations with advanced malware security and Cisco cloud security services.
Managing director of FirstWave Steve O'Brien said:
"We are delighted to be providing cloud security services to this iconic Australian company. Through our Telstra partnership, Qantas clearly recognizes our SaaS platform. The contract illustrates the confidence in us from large organisations such as Qantas when migrating from on-site security to cloud-based security platforms."
O'Brien also added the company plans to strengthen the company's revenue base by adding more Tier 1 customers to its portfolio.
"FirstWave's monthly recurring revenue base is now scaling up very rapidly and we expect this to strengthen over the coming months as we sign on new customers. We are still in the early stages of building our contracted revenue base, with Telstra's 20,000-strong enterprise and government customer base and other international prospects, presenting a huge market opportunity for FirstWave."
O'Brien also added the company is in a "high growth face" and is pursuing contracts of larger or at least similar size and value to what it just signed with Qantas.
"We are progressing a number of other large enterprise-grade tenders and we will update shareholders on progress shortly. These will contribute meaningfully to our growing revenue base."
FirstWave Cloud Technology secured the partnership with Qantas through its long-standing partnership with Telstra. FirstWave and Telstra have been key partners for the past 10 years and the cloud security company pointed out to Telstra's important role in winning what it dubbed a "major new enterprise customer relationship".
Previously, FirstWave signed a 3-year e-mail security contract worth $500,000 with the South Australian Government.