REG - Shearwater Group PLC - Contract Wins and Notice of Results

ShearwaterAnnouncement

07/11/2024 07:00

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RNS Number : 2697L  Shearwater Group PLC  07 November 2024

7 November 2024

Shearwater Group PLC

 

("Shearwater", or the "Group")

 

Contract Win, G-Cloud Supplier Status Approved and Notice of Results

 

Shearwater Group plc, the cybersecurity, advisory, and managed security
services group, is pleased to announce that its subsidiary, Brookcourt
Solutions ("Brookcourt"), has secured a significant three-year contract with a
major British media and telecommunications company. It also announces that it
has achieved 'approved supplier' status with the Crown Commercial Service
("CCS"), G-Cloud 14 framework, which all public sector organisations can use
to buy cloud-based computing services such as hosting, software and cloud
support.

Contract win with British Media and Telecoms giant

Brookcourt has secured a significant three-year contract, valued at c.£3.7m.
The contract will be recognised in the current financial year and contributes
towards the FY25 revenue target.  It includes a comprehensive renewal of
endpoint security platforms, along with advanced Data Loss Prevention (DLP)
and Identity Protection solutions, reinforcing the client's security posture
for years to come.

Approved supplier status with the Crown Commercial Service

Brookcourt's recognition as 'approved supplier' with the CCS is strategically
significant and aligns with Shearwater's recent focus on expansion into
Government departments.

Brookcourt is now able to provide a broad array of cybersecurity services
designed to address the unique cybersecurity challenges faced by public sector
organisations. The portfolio includes solutions enhanced by generative
artificial intelligence (AI), providing buyers with powerful tools to
streamline operations through automation and technological innovation.

The G-Cloud 14 framework will operate for an initial period of 18 months,
extendable up to two years - doubling the term of the previous framework.
Contracts awarded through this framework may run for up to four years,
allowing Brookcourt to deliver sustained, high-quality cybersecurity solutions
to public sector clients.

Notice of Results

The Group will provide a full update on trading together with its interim
results, which will be announced on 26 November 2024.

Phil Higgins, CEO of Shearwater, commented:

"Securing approved supplier status on the Crown Commercial Service's G-Cloud
14 framework underscores our commitment to delivering innovative, high-impact
cybersecurity solutions for the public sector, and demonstrates the value of
the Shearwater offering.

This achievement, alongside our significant new contract with a leading
British media and telecommunications company, reaffirms our dedication to
empowering clients with next-generation security tools, including advanced
AI-driven solutions.

We look to the future with confidence, bolstered by increased levels of
customer engagement, deepened expansion into central government and a growing
pipeline of opportunities."

Enquiries:

 

 Shearwater Group plc                                               www.shearwatergroup.com

 David Williams, Chairman                                           c/o Alma

 Phil Higgins, CEO

 Jonathan Hall, CFO

 Cavendish Capital Markets Limited - NOMAD and Broker               +44 (0) 20 7220 0500

 Adrian Hadden / Ben Jeynes / Fergus Sullivan - Corporate Finance

 Henry Nicol / Dale Bellis / Michael Johnson - Sales

 Alma Strategic Communications                                      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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