Identillect’s Shares Jump on New Deals

Identillect Technologies (TSXV:ID) announced on Tuesday (October 30) that CalBar Connect has chosen the company’s Delivery Trust platform for California lawyers meeting regulatory requirements in securing communications.

CalBar Connect, a subsidiary of California ChangeLawyers, will provide Delivery Trust, which is an email encryption service to over 250,000 of its lawyers.

Identillect said it is focused on providing cybersecurity education to the legal community while also offering a platform for lawyers to communicate securely and keeping client information private.

Managed by Cal Bar Affinity, CalBar Connect offers products and services that are intended to empower lawyers in a bid to create a fair justice system in California.

“We place significant efforts in providing the most advantageous services to California Lawyers, partnering with Identillect will assist in the education of cybersecurity and provide secure email solutions which help maintain regulatory compliance,” Bianca Wolff, CEO of Cal Bar Affinity, said in the release.

It was noted that the Consumer Privacy Act is set to go into effect on January 1, 2020. California is the first state to approve the act, and will be a mandatory requirement for all businesses in California in securing client information.

“Ensuring the cybersecurity of the legal community across the United States is our priority,” Todd Sexton, CEO of Identillect, said in therelease. “Partnering with CalBar Connect will go a long way toward assisting in the protection of lawyers across the state of California.”

Similarly, Identillect announced on Monday (October 29) that Strategic Networks, a company offering IT and marketing solutions, has selected Delivery Trust to secure email communications for their customers.

“The trend of Managed Service Providers … increasing security measures for organizations they service continues,” Sexton said in the Monday’s release. “Identillect assists these organizations in providing solutions to maximize security for their customers.”

Following the announcements, shares of Identillect were 8.33 percent up over the two day trading period with the stock closing the session on Tuesday at C$0.065. However, the company’s shares have lost 75 percent year-to-date. The stock has a “Buy” ranking on TradingView with 13 verticals in favor, nine in neutral and four against.

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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.