Prophecy International Holdings Ltd. advised that the Company has signed a Master Supply Agreement with Australian telecommunications leader Optus Networks Pty Ltd. ("Optus"). The MSA provides for a 5-year agreement for Prophecy services and software subscriptions, setting out the standard terms on which Prophecy will offer to supply Snare and eMite to Optus, its subsidiaries and its customers. The MSA opens significant opportunities for both parties, empowering Optus to participate in new markets and allowing Prophecy to drive strong organic growth in both upfront and recurring revenue.

The initial opportunity to supply eMite to one Optus customer has been estimated at approximately $2.0 million over the first 3 years of the 5-year contract term. A pipeline of additional potential eMite deals have been identified through the partnership developed by the signing of the MSA. The first of these additional eMite deals, with a key Optus government customer, has now proceeded to proof-of-concept (POC) stage with Prophecy having received an initial order valued at $50k.

The parties have identified other revenue opportunities over the first 2 years of the contract through sales of Snare. This software provides security analytics and secure log capture and management capability that allows customers to more efficiently meet compliance mandates, identify cyber threats and provide cyber forensics. The solution provides for significant potential cost savings when deployed at client sites.