Intrusion Inc. (NASDAQ:INTZ), in partnership with iOne Resources, a systems integrator and managed IT network solutions provider in the Philippines, announced a notice of award to supply the Secure Electronic Transmission Services (SETs) for the 2025 midterm elections.
iOne's Resources, in partnership with Ardent Networks, a local IT Distribution Company, will include a portfolio of networking and security vendors from Intrusion, among others.
"We believe Intrusion will significantly enhance the cybersecurity posture of the Commission on Elections. Particularly in safeguarding electoral infrastructure from potential cyberattacks or intrusions," commented Alberto Catangui, President and CEO of iOne Resources.
Ranked as the second-largest financial commitment for the 2025 elections, this contract boasts a bid of P1.4 billion (around $25 million). The SETs are expected to be fully functional by November 2024, with contributions to earnings anticipated starting in the latter half of the year.
Price Action: INTZ shares are trading lower by 16.88% at $1.91 on the last check Wednesday.
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