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Advenica signs MSEK 29 deal with one of Sweden’s major energy companies regarding overall cybersecurity solution

The Swedish provider of advanced cybersecurity solutions will supply the power company with an overall concept comprising both products and services. The agreement duration is four years, with an option for a fifth year. Deliveries start in the second quarter of 2019.

24 May 2019

OT (Operational Technology) includes all subsystems necessary to control and monitor a physical process, for instance in a power plant. In pace with society’s digitalisation, these systems are increasingly connected to IT systems. However, the integration constitutes a big challenge as it poses a risk that unauthorised parties can tap into information or manipulate the systems. To increase robustness against such attacks, the NIS directive and new Swedish security legislation force Swedish companies within critical infrastructure to comply with higher requirements than previously regarding information security.

To secure accessibility and integrity to their OT systems, and thereby be able to digitalise efficiently and responsibly, one of Sweden's major energy companies now chooses Advenica’s advanced technology. The agreement covers a total solution with both products and services, with a duration of four plus one years, with deliveries starting in the second quarter of 2019. The order value amounts to approximately MSEK 29. For operation and support, Advenica has signed an agreement with an experienced organisation; however, Advenica has the overall responsibility for the deal.

"We are extremely proud of this deal that positions Advenica as a complete solution supplier also to critical infrastructure. Everybody with information that is critical for society has to work actively with secure digitalization in order to comply with today’s stricter legislation. We look forward to supporting more companies with customised solutions and thus contribute to a strong civil defense" says Marie Bengtsson, acting CEO Advenica AB.

For further information, please contact:
Marie Bengtsson, acting CEO Advenica AB, +46 (0) 703 860 032

This information is information that Advenica AB is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.05 CET on May 24, 2019.