REG - Smarttech247 Group - Disposal of investment in Getvisibility for €1.8 M

Smarttech247Announcement

10/03/2025 07:00

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RNS Number : 9758Z  Smarttech247 Group PLC  10 March 2025

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Company to constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon
publication of this Announcement, this information is now considered to be in
the public domain.

 

10 March 2025

Smarttech247 Group PLC

 

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

 

Disposal of investment in Getvisibility for €1.8 million

 

Smarttech247 (AIM: S247), 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 announce that it has
agreed to sell its entire unquoted minority position in Visibility Blockchain
Limited ("Getvisibility") to Forcepoint, a global leader in data and cloud
security (the "Disposal").   The Disposal is expected to generate a gross
cash inflow to the Company of approximately € 1.8 million.

 

Getvisibility is a cybersecurity company focusing on data visibility and
control and uses state-of-the-art artificial intelligence ("AI") to classify
and secure unstructured information.

 

Smarttech247 has a strong and long-standing relationship with both Forcepoint
and Getvisibility. They have maintained a close partnership, collaborating on
cutting-edge cybersecurity solutions over a number of years.

 

Getvisibility already plays a key role in Forcepoint's newly launched
comprehensive security solution for generative AI platforms. In particular, it
powers Forcepoint DSPM, enhancing the speed and accuracy of data
classification and protection using AI Mesh technology-an industry-first
network of language models and machine learning algorithms.

 

Smarttech247 has worked closely with Getvisibility for many years, and our
strong trading relationship has continued to grow. This transaction reinforces
our commitment to innovation and collaboration. Moving forward, our valued
partnership with Forcepoint will remain in place, ensuring continued success
in delivering world-class security solutions.

 

Ronan Murphy, Executive Chairman of Smarttech247, who is also a significant
shareholder in Getvisibility, has also agreed to sell his shareholding in
Getvisibility as part of the sale of this company to Forcepoint.

 

As at 31 July 2024, the carrying value of the Company's investment in
Getvisibility amounted to circa €1.0 million. The completion of the sale of
Getvisibility is subject to the satisfaction of certain conditions that are
customary for a transaction of this type.   The proceeds from the Disposal
will be added to the Company's cash reserves.

 

 

Raluca Saceanu, CEO of Smarttech247, commented:

 

"This is a significant transaction for the Company as it results in a
substantial cash inflow and also means that an important trading partner of
the Company is now part of a global provider of data and cloud security.
Going forward we are excited about further developing our relationship with
the Forcepoint group."

 

 

- Ends -

 

*Smarttech247 is a recognised vendor in 2024 Gartner® Market Guide for
Managed Detection and Response.

 

 

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 / Angus Campbell
 Cavendish Capital Markets Limited - Corporate Broker  Tel: +44 (0) 7220 0500
 Marc Milmo / Hamish Waller

 Tim Redfern / Sunila de Silva - Broking
 Yellow Jersey PR                                      Tel: +44 (0) 20 3004 9512

 Charles Goodwin / 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 Group's services are geared towards proactive prevention, and it achieves
this by utilising the latest technologies, 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 trading on the London Stock Exchange
on 15 December 2022.

 

For further information please visit www.smarttech247.com (about%3Ablank)

 

*Gartner disclaimers

 

Market Guide for Managed Detection and Response, 24 June 2024, Pete Shoard,
Andrew Davies, Mitchell Schneider, Angel Berrios, Craig Lawson.

 

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affiliates in the

U.S. and internationally and is used herein with permission. All rights
reserved.

 

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