Perth-based Internet security company, iWebGate (ASX:IWG), has inked a partnership with US IT firm and defence supplier, Blue Tech, to sell its products directly to US government agencies, universities and enterprise clients.
This partnership comes off the back of a recent capital raising between iWebGate and Lind Partners, where the asset management firm committed $US8.6 million in funding to iWebGate. NYC-based Lind Partners employs Australia’s John Hancock as a senior advisor, who was involved with the recent funding.
This partnership will see iWebGate will provide IT products, including security protection platforms to Blue Tech to distribute to major US government agencies including the likes of NASA. iWebGate products to be sold through the partnership include its Virtual Services Platform (VSP), its Virtual Invisible Networking (VIN), and Virtual Application Container (VAC) solutions.
The agreement contains a fixed percentage revenue share arrangement, whereby Blue Tech will collect SaaS subscription revenue from its customers that sign up to iWebGate’s products. In addition, Blue Tech will pay a licensing fee to iWebGate for sales to its clients.
iWebGate CEO, Tim Gooch, said the partnership gives iWebGate the opportunity to tap into the US federal cyber security market, which is expected to grow from $US18 billion in 2017 to $US22 billion by 2022.
As a value-added reseller and solutions provider, Blue Tech is focused on streamlining the procurement of IT products, including software and services for Federal Government agencies, universities, healthcare and enterprise customers across the US.
“We are very excited to partner with prime US Government contract holder, Blue Tech. By combining our platform technology with Blue Tech’s sales force, iWebGate is able to activate a new sales channel.
“Through this exclusive partnership, our products will reach the top tier of the US Federal Government and defence industry, along with universities and enterprise customers. The partnership also aligns strongly with iWebGate’s expansion strategy to diversify and grow its customer base internationally,” he said.
Blue Tech CEO and co-founder, Susan Stone, said the company is pleased to be partnering with iWebGate to offer its public sector customers the security platform.
“As a company committed to bringing new technologies to our customer base, we are excited at the solutions that the iWebGate products can bring to the critical topic of cyber security.
“Bringing our two companies together creates an atmosphere of global cooperation that we are determined will result in products that will evolve and adapt while being easy to install and maintain,” sje added.
The recent funding from Lind Partners will also allow the company to expand upon its existing relationship with US-based AppDirect, where it sells iWebGate’s Workspace Suite of network security services through Telstra’s online apps marketplace.