REG - Shearwater Group PLC - £2.3m Contract wins

ShearwaterAnnouncement

20/12/2024 07:00

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RNS Number : 8391Q  Shearwater Group PLC  20 December 2024

 

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20 December 2024

 

 

 

Shearwater Group plc

("Shearwater", or the "Group")

 

£2.3m Contract wins

Significant Services contract win with leading global financial services
provider

 

Shearwater Group plc, the cybersecurity, advisory and managed security
services group, announces a series of new contract wins with a total contract
value of £2.3m, including a new major £1.5m contract win for portfolio
company Brookcourt Solutions, all of which will be recognised in FY25.

 

Under the terms of the £1.5m agreement, Brookcourt Solutions will deliver an
Advanced Email Encryption Managed Service Platform to a leading global
financial organisation, leveraging a cutting-edge platform developed by its
trusted technology partner. This Email Encryption Platform offers the client a
secure, customisable, and expertly maintained solution to safeguard sensitive
communications and significantly enhance its cybersecurity posture in today's
complex digital landscape.

 

This latest win follows on from a number of smaller Services contract wins in
the past week which have a total value of £0.8m and span diverse end markets
including government, telecommunications and national distribution. Momentum
is continuing to build through H2, supporting the Group's ability to deliver
full year results in line with market expectations.

 

Phil Higgins, Group Chief Executive Officer of Shearwater Group, commented:
"We are delighted to secure this landmark contract with a prestigious global
financial organisation, as well as a number of smaller deals in the past week
which include further penetration of central Government, a strategic priority
for the Group.

 

These achievements underscore the quality of our offering and ability to
collaborate with leading partners to deliver high-value services and solutions
through our portfolio companies. As cybersecurity and operational efficiency
become top priorities for organisations, these wins reinforce our role as
trusted advisors in meeting these critical challenges."

 

Enquiries:

 

 Shearwater Group plc                                             www.shearwatergroup.com

 David Williams, Chairman                                         c/o Alma

 Phil Higgins, CEO

 Jonathan Hall, CFO

 Cavendish Securities plc                                         +44 (0) 20 7397 8900

 Adrian Hadden / Ben Jeynes - Corporate Finance

 Charlie Combe / Dale Bellis / Michael Johnson - Broking/ Sales

 Alma                                                             shearwater@almastrategic.com (mailto:shearwater@almastrategic.com)

 Justine James / Joe Pederzolli / Emma Thompson                   +44 (0) 20 3405 0205

 

About Shearwater Group plc

 

Shearwater Group plc is an award-winning group providing cyber security,
managed security and professional advisory solutions to create a safer online
environment for organisations and their end users.

 

The Group's differentiated full service offering spans identity and access
management and data security, cybersecurity solutions and managed security
services, and security governance, risk and compliance. Its growth strategy is
focused on building a scalable group that caters to the entire spectrum of
cyber security and managed security needs, through a focused buy and build
approach.

 

The Group is headquartered in the UK, serving customers globally across a
broad spectrum of industries.

Shearwater shares are listed on the London Stock Exchange's AIM under the
ticker "SWG".  For more information, please visit www.shearwatergroup.com
(http://www.shearwatergroup.com) .

 

 

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