Excite’s $2.14M Two-Year Cybersecurity Deal with Keyton Boosts Revenue
Excite Technology Services has renewed a $2.14 million contract with Keyton Retirement Living to provide managed cyber security and IT services over two years, reinforcing a strong partnership in a critical sector.
- Two-year $2.14 million contract renewal with Keyton Retirement Living
- Provision of managed cyber security and IT services
- Option to extend contract for an additional two years
- Contract supports Keyton’s technology transformation and cyber resilience
- Contract terminable with six months’ notice
A Renewed Partnership in Cybersecurity
Excite Technology Services Limited (ASX – EXT) has announced a significant contract renewal with Keyton Retirement Living, valued at $2.14 million over two years. This agreement underscores the enduring relationship between the cybersecurity specialist and one of Australia’s leading retirement living operators.
Keyton Retirement Living, known for its commitment to creating safe and connected communities for seniors, has entrusted Excite to continue delivering a comprehensive suite of managed cyber security and IT services. This renewal not only reflects confidence in Excite’s capabilities but also highlights the growing importance of integrated cyber and IT management in the aged care sector.
Strategic Importance of the Contract
The contract’s annual value of $1.07 million and its two-year term, with an option to extend for another two years, provide Excite with a stable revenue stream while allowing flexibility. The agreement enables Excite to deploy flexible project resources aligned with Keyton’s strategic objectives, ensuring cyber security and IT operations remain tightly integrated and responsive to evolving threats.
Excite’s CEO Bryan Saba emphasized the trust Keyton places in their team, noting that the renewal strengthens their ability to support Keyton’s cyber strategy and technology transformation. This partnership is a testament to Excite’s reputation for delivering secure, reliable, and responsive services in a sector where data protection and operational continuity are paramount.
Implications for the Cybersecurity Sector
As cyber threats continue to escalate globally, sectors like retirement living are increasingly prioritizing robust cybersecurity frameworks. Excite’s role in safeguarding Keyton’s technology environment positions the company well within a growing market for managed cyber and IT services. The contract renewal signals confidence in Excite’s integrated service model and its ability to adapt to client needs in a dynamic threat landscape.
However, the contract’s terminable clause with six months’ notice introduces an element of uncertainty, reminding investors to watch for future developments regarding contract longevity and potential expansions.
Bottom Line?
Excite’s renewed contract with Keyton cements its foothold in a vital sector, but future renewals will be key to sustaining growth.
Questions in the middle?
- Will Keyton exercise the option to extend the contract beyond two years?
- How will Excite adapt its services to evolving cyber threats in the retirement living sector?
- Could this renewal lead to further contracts within the aged care industry for Excite?
