Agency quickly exercises option to expand its investment in investigative analytics solutions
HERZLIYA, Israel–(BUSINESS WIRE)–Cognyte Software Ltd. (NASDAQ: CGNT) (“Cognyte”), a global leader in investigative analytics software, today announced that a long-standing national security agency customer in the Asia-Pacific (APAC) region recently exercised a $4 million option to expand its solution capacity to handle constantly growing data volumes. Cognyte’s solution allows the customer to accomplish its missions of combatting terror and enhancing public safety.
Earlier this year, the customer signed a contract worth more than $5 million to scale up its existing solution, enabling the agency to analyze and manage data more effectively. Anticipating growing challenges in deriving actionable intelligence from increasing volumes of data, the contract included the option to expand the solution’s capacity soon after implementation of the initial contract. The customer recognized the value being delivered by Cognyte in the scaled-up solution and exercised the option during the second quarter.
“We have developed a strong relationship with this national security customer over many years,” said Efi Nuri, Cognyte’s Chief Revenue Officer. “The customer views us as a trusted partner and domain expert and recognizes the high value generated by our solution. This led the customer to quickly exercise the option to expand its data capacity. The steady flow of repeat business we generate with our customers is a testament to the strength of our relationships and the high value they generate with our investigative analytics solutions.”
About Cognyte Software Ltd.
Cognyte Software Ltd. is a global leader in investigative analytics software that empowers a variety of government and other organizations with Actionable Intelligence for a Safer World™. Our open interface software is designed to help customers accelerate and improve the effectiveness of investigations and decision-making. Hundreds of customers rely on our solutions to accelerate and conduct investigations and derive insights, with which they identify, neutralize and tackle threats to national security and address different forms of criminal and terror activities. Learn more at http://www.cognyte.com.
Contacts
Media Relations Contacts:
Michelle Allard McMahon
Rainier Communications on behalf of Cognyte Software
[email protected]
Investor Relations Contact:
Dean Ridlon
Cognyte Software
[email protected]
