Sydney's Brace168 scores security services contracts

Sydney managed security services provider Brace168 has secured three multi-year contract wins to provide a variety of security services.

The customers include retirement accommodation provider Ingenia Communities Group, financial technology firm Sandstone Technology and non-profit Guide Dogs NSW/ACT.

The contract with Ingenia is for a two-year agreement to provide a managed detection and response (MDR) solution, valued at around $720,000. The cost covers setup, a monthly managed service and reporting over the term.

With Sandstone, Brace168 forged a three-year master services agreement to provide “various cybersecurity services” and also have Sandstone act as a channel to Brace168 customers across financial service institutions, banking and insurance industries.

Sandstone specialises in digital lending, digital customer acquisition and digital banking, specifically in the development, sale, customisation and installation of software and support services.

“The [agreement] represents our confidence in Brace168’s capacity to provide a vast experience in managed security services to meet the needs of all financial services sectors,” Sandstone chief technology officer Chaitanya Pinnamaneni said.

Brace168 did not disclose the terms of the deal, but said it would conduct an initial security assessment to Sandstone valued at $13,500.

Brace168 chief operating officer Matt Miller said, “At Brace168, we are changing the way companies look at their application security and are pleased to work with leaders in fintech such as Sandstone.”

The third contract win was with not-for-profit charity Guide Dogs NSW/ACT, specifically a two-year fixed term to provide security services.

Brace168 will provide 24 x 7 monitoring and response services, via its managed detection and response security operation centre, to help identify security anomalies in Guide Dogs NSW/ACT’s critical cyber assets.

The deal is valued at $55,000 plus additional services worth $60,000 donated to Guide Dogs NSW/ACT.

“This represents Brace168’s commencement in offering cyber services, such as penetration testing services, to the not-for-profit community within Australia,” the company’s announcement read.

“Using this arrangement as an example case, the company will seek to target other opportunities to provide cyber security protection to organisations in the not-for-profit sector.”