Cipherpoint Limited's subsidiary Brace168 Pty Ltd has entered into a three-year Master Services Agreement (MSA) with Vocus Pty Ltd for the delivery of cybersecurity-related services.

The total contract value over three years under the initial purchase order is A$772,000 with the provision for termination for convenience on three months' notice. Cipherpoint shares have been up as much as 14% to an intraday high of A$0.033.

Purchase order

The first purchase order received under the terms of the MSA requires Brace168 to implement and provide an ongoing Managed Detection and Response Services. This will consist of providing 24x7 SOC capability, working with Vocus in building a sophisticated detection capability and integrating with the security team at Vocus to deliver best-in-class incident response service.

About Cipherpoint

Cipherpoint, through its wholly-owned subsidiary Brace 168 Pty Limited, is a focused managed cyber security services business. It utilizes its best of breed security operations centre and a highly trained operations and advisory team to identify and detect security vulnerabilities using Brace168's unique cyber security approach driven by the NIST framework. Brace168 provides innovative IT and cyber security solutions to a broad range of enterprise sectors and governments.