Cybersecurity software developer ArchTIS will commence trading on the Australian Securities Exchange at midday today following the completion of its initial public offering earlier this year.
The proceeds of the IPO will go towards the Canberra-based vendor’s ongoing development and commercialisation of its Kojensi secure content and collaboration software suite for both government and commercial clients.
ArchTIS will trade under the code “AR9” after meeting its $8 million funding target, with the backing of small-cap investors SG Hiscock and Merchant Group.
“ArchTIS has proven experience in secure information collaboration and sharing within the highest security areas of government,” ArchTIS managing director Daniel Lai said.
“We are on target to commence testing of our new product range later this year, and I look forward to updating the market on our progress.”
The Kojensi suite features the company’s secure information sharing technology currently in operation in the Australian Department of Defence, and is being developed to meet demand from its other government clients.
Within the suite, Kojensi Gov and Kojensi Cloud will be licensed to clients under a SaaS model with a fixed monthly price, while the mobile appliance Kojensi Field can be a one-off purchase with the option of ongoing support and maintenance license. DataKloak control meanwhile will be licensed on a per user basis.
“Our Kojensi suite of software solutions is unique because it treats security and information sharing as one issue, whereas traditionally, these two challenges are treated as mutually exclusive,” Lai said.
“This, coupled with our deeply embedded government relationships, positions the company exceptionally well to capitalise on the next generation content and collaboration market opportunities.”
ArchTIS will beta test Kojensi Gov in Q4 of this year starting with a demonstration at the Military Communications and Information Systems (MilCIS) conference in November and followed by a more in-depth testing with federal government agencies.
The Kojensi suite is expected to launch early next year when testing is completed.