Reporting Season: Cirrus awarded contract by University of Western Australia

By Trevor Hoey. Published at Aug 6, 2018, in Features

Name: Cirrus Network Holdings (ASX:CNW)

Market Cap: $16 million

Last Closing Share Price: $0.02

Cirrus Network Holdings (ASX:CNW) has been awarded a hosted platform managed service contract with the University of Western Australia (UWA).

The circa $2 million dollar contract is for a one-year initial term with two one-year options as part of a new Master Services Agreement.

The service covers CNW managing on-premise platforms, network, storage and backup facilities that reside within the UWA data centres.

The agreement provides for the management of data centre infrastructure to meet critical performance, business continuity and availability targets.

UWA is one of Australia’s leading universities with almost 24,000 students enrolled across four faculties.

Cirrus benefiting from expansion through acquisition

Consequently, this is an important development for CNW, being a provider of technologies and services to the education and other sectors.

Its service offering aims to improve efficiencies and reduce costs while providing long-term operational gains.

In part, CNW has been a growth by acquisition story with the addition of a number of businesses providing it with a substantial east coast presence.

Noting the importance of this development, Managing Director, Matt Sullivan said, “Winning this high profile education based managed service contract highlights Cirrus’ ongoing ability to demonstrate innovative cost-effective solutions for clients and continues to deliver on the goal to be the market leader in managed services”

At the same time, it’s worth noting that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.

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