Plurilock Enters Critical Services Partnership with TD SYNNEX to Provide AI Services in North America

Rhea-AI Summary

Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) has announced a partnership with TD SYNNEX (NYSE: SNX) to provide AI services in North America. Under this agreement, Plurilock will offer AI-focused critical services and cybersecurity solutions for TD SYNNEX's North American operations. These services may include security operations, offensive security, data protection, Zero Trust architecture, and AI transformation.

This partnership represents the initial phase of a potentially broader collaboration, with the possibility of expanding into TD SYNNEX's global operations. The partnership aims to enhance TD SYNNEX's AI services offerings in the cybersecurity sector, leveraging Plurilock's expertise in AI and cybersecurity developed over eight years.

Positive

• Partnership with TD SYNNEX to provide AI services in North America
• Potential for expansion into TD SYNNEX's global operations
• Validation of Plurilock's expertise in AI and cybersecurity

Negative

• None.

Insights

Technology and Cybersecurity Analyst

This partnership marks a significant milestone for Plurilock, potentially expanding its market reach through TD SYNNEX's extensive distribution network. The collaboration focuses on AI-driven cybersecurity services, a rapidly growing sector in the tech industry.

The deal's initial phase in North America suggests a cautious but strategic approach, with the possibility of global expansion. This could lead to substantial revenue growth for Plurilock if the partnership proves successful. However, investors should note that the financial terms and specific revenue projections are not disclosed, making it challenging to quantify the immediate impact on Plurilock's bottom line.

The partnership also validates Plurilock's AI expertise in the cybersecurity domain, potentially enhancing its market position and attracting more high-profile clients. This could translate into increased investor confidence and possibly positively impact the stock price in the short to medium term.

Market Research Analyst

The partnership between Plurilock and TD SYNNEX is strategically timed, coinciding with the surging demand for AI-powered cybersecurity solutions. As organizations increasingly rely on AI technologies, the need for robust security measures has become paramount, creating a lucrative market opportunity.

TD SYNNEX's selection of Plurilock as a service provider suggests a vote of confidence in the company's capabilities, potentially elevating Plurilock's status in the competitive cybersecurity landscape. This could lead to increased market share and brand recognition for Plurilock.

However, investors should be aware of the intense competition in the AI cybersecurity space. Plurilock will need to consistently demonstrate superior technology and service delivery to maintain its competitive edge and fully capitalize on this partnership's potential.

Financial Analyst

While this partnership announcement is positive for Plurilock, the lack of financial details makes it difficult to quantify its immediate impact on the company's revenue or profitability. Investors should monitor future earnings reports for tangible evidence of the partnership's financial benefits.

The potential for global expansion of the partnership is promising, as it could significantly increase Plurilock's total addressable market. However, this expansion is not guaranteed and would likely require additional investment and resources from Plurilock.

Given Plurilock's status as a smaller, publicly traded company (TSXV: PLUR, OTCQB: PLCKF), this high-profile partnership could potentially lead to increased investor interest and liquidity in its stock. However, as with any small-cap stock, investors should be mindful of potential volatility and conduct thorough due diligence.

• TD SYNNEX will now offer Plurilock's Critical Services
• Plurilock also chosen as a cybersecurity service provider
• Initial phase of a potential wider partnership into global operations

Vancouver, British Columbia--(Newsfile Corp. - September 12, 2024) - Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) ("Plurilock" or the "Company"), a global cybersecurity services and solutions provider, announces a partnership with TD SYNNEX (NYSE: SNX), a leading global distributor and solutions aggregator for the IT ecosystem, to provide artificial intelligence ("AI") services in North America.

Under the terms of the partnership, Plurilock will provide AI-focused critical services and cybersecurity solutions for TD SYNNEX across their North American operations. The services and solutions provided may include, but are not limited to: security operations; offensive security and penetration testing; data and intellectual property protection and loss prevention; Zero Trust architecture and implementation; digital and AI transformation; and related advisory and governance, risk, and compliance (GRC) services. This represents the initial phase of a potential wider partnership, with the possibility of future expansion into the company's global footprint.

"TD SYNNEX is committed to uniting technology solutions that deliver business outcomes today and unlock growth for the future," said Joe Pittillo, Senior Vice President, Services at TD SYNNEX. "With Plurilock added as a service provider, we are able to enrich the breadth and depth of our AI services offerings in a critically important sector for our partners."

"AI has been embedded in our DNA since our inception over eight years ago as a cybersecurity company," said Ian L. Paterson, CEO of Plurilock. "As AI continues to become pervasive, our customers rely on Plurilock for expert advice and guidance. Being chosen to deliver critical services in this specialized area is a strong endorsement of our expertise and further validation of our efforts as we continue our mission to protect the world's leading companies from today's threats."

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We're an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX's 23,000 co-workers are dedicated to uniting compelling IT products, services and solutions from 2,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including AI, cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com, follow our newsroom or follow us on LinkedIn, Facebook and Instagram.

Copyright 2024 TD SYNNEX Corporation. All rights reserved. TD SYNNEX, the TD SYNNEX Logo, and all other TD SYNNEX company, product and services names and slogans are trademarks of TD SYNNEX Corporation. Other names and trademarks are the property of their respective owners.

About Plurilock

Plurilock sells cybersecurity solutions to the United States and Canadian Federal Governments along with Global 2000 companies. Through these relationships, Plurilock sells its unique brand of Critical Services-aiding clients with our expertise to defend against, detect, and prevent costly data breaches and cyberattacks.

For more information, visit https://www.plurilock.com or contact:

Ian L. Paterson
Chief Executive Officer
ian@plurilock.com
416.800.1566

Ali Hakimzadeh
Executive Chairman
ali@sequoiapartners.ca
604.306.5720

Sean Peasgood
Investor Relations
sean@sophiccapital.com
647.953.5607

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") related to future events or Plurilock's future business, operations, and financial performance and condition. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risk Factors" in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR+ at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223071

FAQ

What services will Plurilock provide to TD SYNNEX under their new partnership?

Plurilock will provide AI-focused critical services and cybersecurity solutions, including security operations, offensive security, data protection, Zero Trust architecture, and AI transformation for TD SYNNEX's North American operations.

How might this partnership affect TD SYNNEX (SNX) stock?

The partnership could potentially enhance TD SYNNEX's AI services offerings, which may positively impact its competitiveness in the IT ecosystem and potentially influence its stock performance.

What is the potential for expansion of the Plurilock and TD SYNNEX (SNX) partnership?

The current agreement represents the initial phase of a potential wider partnership, with the possibility of future expansion into TD SYNNEX's global operations.

How long has Plurilock been working with AI in cybersecurity?

According to the press release, Plurilock has been working with AI in cybersecurity for over eight years since its inception as a cybersecurity company.