The Covata Ltd (ASX: CVT) share price has had a fantastic start to the week.
In afternoon trade the data-centric security solutions company's shares are up 12% to 7.3 cents.
Why have its shares jumped higher?
This morning Covata announced two positive developments.
The first was that it has signed a new agreement with Macquarie Telecom Group Ltd. (ASX: MAQ) that will see the telco's Government division continue to resell Covata's SafeShare secure collaboration solution to government users.
A further boost to the share price was the signing of a UK government agency for a 30-day trial commencing in September.
The company aims to use the information gained from the trial to develop relevant government use cases for securing sensitive policy files.
These announcements will be welcome news for shareholders. Covata's shares are still down 42% year-to-date after accounting for today's gain.
