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Osirium reported H118 results in line with management expectations. Revenue growth of 78% and bookings growth of 37% provide good support to our FY18 forecasts. Heightened M&A activity in the privileged access management (PAM) market highlights the growing importance of PAM technology in IT security and the greenfield opportunity for Osirium. The company continues to invest in R&D to maintain its innovative edge, with the next generation of its task automation software due for release early next year and a technology partnership with RazorSecure bringing endpoint privilege management to the portfolio.

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