REG - Shearwater Group PLC - Contract Wins

ShearwaterAnnouncement

04/01/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240104:nRSD5891Ya&default-theme=true

RNS Number : 5891Y  Shearwater Group PLC  04 January 2024

4 January 2024

 

SHEARWATER GROUP PLC

("Shearwater", or the "Group")

 

Contract wins secured with a Global Financial Organisation

and a Government Department

 

Shearwater Group plc, the cybersecurity, advisory and managed security
services group, announces that its subsidiary, Brookcourt Solutions
('Brookcourt'), has secured two key contract wins.

 

A three year contract has been signed with a leading global bank for the
provision of comprehensive security and cyber security services.  The
contract has a total value of US$3.15 million, which includes previously
deferred contractual spend from the client.  Brookcourt will provide renewed
support for a critical segment of the bank's global security infrastructure
ensuring that the bank can enhance the protection and audit capabilities of
its core databases.

 

In addition, following its first Government department contract win in October
2023, Brookcourt has secured a three year contract with a second Government
department following an intensive one-year trial. With a total value of
approximately £0.84 million it involves the delivery of a comprehensive
threat intelligence solution, covering threat, geopolitical and brand
intelligence.

 

Both these strategic wins, which will be accounted for in full in the year to
31 March 2024, demonstrate Brookcourt's commitment to delivering cutting-edge
solutions and fortifying the security landscape for its clients.

 

Phil Higgins, CEO of Shearwater, commented: "We are delighted to be awarded
these two contracts, highlighting the value and expertise of Brookcourt
Solutions' offering. It is especially pleasing to see further previously
delayed client spend from last year flow into the current period. Additionally
we are excited to see deeper expansion for the Group into central government."

 

Enquiries:

 Shearwater Group plc                                                 www.shearwatergroup.com (http://www.shearwatergroup.com)

 David Williams, Chairman                                             c/o Alma PR

 Phil Higgins, CEO

 Adam Hurst, Interim CFO

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

 Adrian Hadden / Ben Jeynes / Fergus Sullivan -  Corporate Finance

 Henry Nicol / Dale Bellis / Michael Johnson - Sales

 Alma                                                                 shearwater@almastrategic.com

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

 

This announcement contains inside information.

 

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/) .

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTFFFLFLTIVIIS