REG - Smarttech247 Group - Contract win update

Smarttech247Announcement

02/02/2023 07:01

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RNS Number : 6389O  Smarttech247 Group PLC  02 February 2023

2 February 2023

Smarttech247 Group PLC

("Smarttech247", the "Group" or the "Company")

Contract win update

 

Smarttech247, a multi-award-winning provider of AI-enhanced cybersecurity
services providing automated managed detection and response for a portfolio of
international clients, is pleased to provide an update on contract wins during
the last quarter.

 

The Company, which was admitted to trading on AIM in December 2022, has
secured a number of new multi-year contracts utilising its automated Managed
Detection and Response Platform, VisionX.  These include a three-year
agreement with a large US tech company headquartered in Massachusetts and a
two-year agreement with a prestigious university in Ireland worth c.$400,000
and c.$450,000 respectively over the lives of the contracts. The contract wins
build on the three-year $800,000 contract with a Fortune 150 leading
automotive retailer in the USA with annual revenues of over $20 billion which
the Company won in October 2022.

Raluca Saceanu, Chief Executive Officer of Smarttech247, commented:

"We are delighted to have been awarded a number of multi-year contracts with
prestigious organisations. It demonstrates Smarttech247's ability, not just in
the UK and Ireland, but overseas, to deliver cybersecurity solutions to a
growing list of global blue-chip clients. It also demonstrates the rapid
adoption of our new platform, VisionX.

"Cyber threats are increasing in number and complexity every year. To protect
brand reputation, customers' private and payment information, as well as
sensitive IP, organisations are taking a focused cyber management approach to
reduce their risk.

"We look forward to working in partnership to provide improved security
solutions to all our customers and will update the market on future progress
in due course."

- Ends -

For further information please contact:

 Smarttech247 Group PLC                               Tel: +353 21 206 6033
 Ronan Murphy, Executive Chairman

 Raluca Saceanu, Chief Executive Officer

 Nicholas Lee, Finance Director
 SPARK Advisory Partners Limited - Nominated Adviser  Tel: + 44 (0) 20 3368 3550
 Mark Brady / Adam Dawes
 Shard Capital - Broker                               Tel: +44 (0) 20 7186 9900
 Damon Heath
 Fortified Securities - Adviser                       Tel: +44 7493 989014
 Guy Wheatley, CFA
 Yellow Jersey PR                                     Tel: +44 (0) 20 3004 9512

 Sarah Hollins / Annabelle Wills / Bessie Elliot

About Smarttech247

Smarttech247 is a multi-award winning automated MDR (Managed Detection &
Response) company. Its platform is trusted by international organisations and
provides threat intelligence with managed detection and response to provide
actionable insights, 24/7 threat detection, investigation and response.

 

The Company's services are geared towards proactive prevention and it achieves
this by utilising the latest in cloud, big data analytics and machine
learning, along with an experienced incident response team.

 

Smarttech247's offices are located in Ireland, United Kingdom, Romania, Poland
and the USA. The Company was admitted to AIM on 15 December 2022.

 

For further information please visit www.smarttech247.com
(http://www.smarttech247.com)

 

 

 

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