Data-centric software solutions provider archTIS Ltd ( ASX:AR9 , OTCQB:ARHLF ) has secured an extension with Commonwealth Bank of Australia (CBA), after $4 million of the company's total $8 million in CBA lending facilities was due to mature on October 30. The maturity date has now been extended to April 2027.
archTIS Managing Director and Ceo Daniel Lai said the decision reflects "confidence in the company and our ability to continue executing our strategy".
Details of the facility following the extension are:
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$2 million maturing on January 29
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an additional $2 million on January 31, and
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$4 million maturing on April 30.
Apart from a one-off establishment fee of A$2,000 that applies to the variation and this extension, the key terms of the facilities remain unchanged from previous agreements.
archTIS's continued access to non-dilutive funding will support its ongoing success and ability to meet the growing demand for its data security products and collaboration software for government, defence, and intelligence clients.
"Access to flexible, non-dilutive bank funding remains an important part of our disciplined approach to capital management, allowing us to support growth while preserving value for shareholders," Daniel Lai said.
Collaborations and funding drive AR9 forward
It has been a busy month for archTIS, securing collaborations and funding that heighten the company's standing in the data and security market.
Earlier this month, the company secured a $315,000 services contract from the US Department of Defence to increase development of its NC Protect platform. NC Protect is archTIS' data-centric security platform, which is designed to help organisations control access to sensitive information across Microsoft environments. There is a specific focus on the functionality of NC Protect, with interest in the system's performance, policy management and ability to be deployed at a large scale.
archTIS recently partnered with Pexip , a video communication platform, to deliver customisable and encrypted meeting environments for high security sectors like defence, intelligence and government organisations. ArchTIS's Trusted Data Integration (TDI) technology helped control meeting access based on participants' security clearance, nationality, and authorisation levels within Pexip's conferencing platform.
The company has also had vested interest beyond its defence and government customer base, including from a Nasdaq-listed bank. Headquartered in California, the unnamed bank secured a contract with archTIS to utilise its Spirion Sensitive Data Platform for a data retention program. Spirion will help the company identify, classify, and manage more than a decade of unstructured Windows file data, giving management and auditors greater visibility into how they organise their legacy and potentially sensitive information.
