REG - Silver Bullet Data - Corporate Cyber Attack

Silver Bullet Data ServicesAnnouncement

20/12/2021 14:30

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RNS Number : 2382W  Silver Bullet Data Services Grp PLC  20 December 2021

 

20 December 2021

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the
"Group")

 

Corporate Cyber Attack

 

 

Silverbullet, a provider of digital transformation services and products,
reports that it has recently been the victim of a cyber attack on its business
by sophisticated hackers who solicited falsified payments of £365k from its
corporate bank account.

 

The theft of monies has immediately been reported to the police, the Company's
insurers and the Information Commissioner's Office ("ICO"). No client
information or personal details have been compromised in any way during this
theft. The Company has also appointed a cyber security firm to report on the
attack and make recommendations to the Group's process and procedures, which
will be implemented.

 

This attack in no way affects the Group's ability to perform day-to-day
operations. The Company continues to have a strong cash position and is
exploring all avenues for the restitution of the funds and will update the
market on this in due course.

 

Ian James, Chief Executive Officer of Silverbullet, commented:

"We are naturally very disappointed to have been a victim of this very
sophisticated cyber crime and we are working hard with the police and our
insurers to recoup the monies lost. This has no impact whatsoever on the
Company continuing to serve its clients and winning further business."

 

 

 

For further information please contact:

 

 Silverbullet                                             via IFC
 Ian James (CEO)

 Strand Hanson Limited - Financial and Nominated Adviser  0207 409 3494
 James Spinney / James Bellman / James Dance

 Oberon Capital - Broker                                  0203 179 5344
 Mike Seabrook / Robert Hayward

 IFC Advisory                                             020 3934 6630
 Graham Herring / Tim Metcalfe / Florence Chandler        07793 839 024

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018.

About Silverbullet

Silverbullet's proprietary 4D advertising solution is designed to help
advertisers target consumers in a "post cookie world". The product is a
natural extension to its existing services business which already serves a
blue-chip client base such as Heineken, Channel 4, Amazon, ITV and
Jägermeister amongst many others.

 

The removal of third-party cookies has already been implemented by web
browsers such as Firefox and Safari, with Google expected to phase out the use
of cookies in 2022.

Headquartered in London, the Group employs 66 employees across five regions
across the globe, including, the UK, Italy, Germany, Australia and the US. The
Group continues to look at other opportunities for expansion worldwide.

The Company has an established and growing services business with significant
accumulated industry experience and a proven track record of delivering
strategic projects and activation services to its clients.

The majority of the Board have held senior positions at global software
companies and have significant industry experience across data engineering,
SAAS product development and marketing.

The Group has close technical and commercial partnerships with Salesforce,
Oracle and Adobe, all of which have existing sales channels and are already
delivering to clients.

The Group has established a joint venture and strategic partnership with Local
Planet, a scaled network of over 60 agencies across the globe which transact,
in aggregate, over US$16 billion of media buying on behalf of their clients.
The Local Planet joint venture, established in December 2020, which has
already generated material services revenues for the Group, presents a
significant opportunity to provide further data services and the 4D product to
the Local Planet agency network.

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