REG - Smarttech247 Group - S247 Secures $4.2M in New and Renewed Contracts

Smarttech247Announcement

29/05/2025 07:00

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RNS Number : 5000K  Smarttech247 Group PLC  29 May 2025

29 May 2025

Smarttech247 Group PLC

 

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

 

Smarttech247 Secures $4.2 Million in New and Renewed Contracts, Driving ARR
Growth and Platform Expansion

 

Smarttech247 (AIM: S247), a multi-award-winning provider of AI-enhanced
cybersecurity services providing automated managed detection and response
(MDR) for a portfolio of international clients, is pleased to announce a
series of contract renewals and expansions at a total value of $4.2 million
(€3.7 million) for periods of one to three years.  The new contracts will
contribute to the growth of Annual Recurring Revenue (ARR) and reinforce the
strength of its VisionX platform for real-time threat detection and response.

 

The Company has secured the following wins:

 

·      A three-year MDR renewal with a long-standing global
pharmaceutical customer, alongside the addition of two new services,
Information Security and Threat and Vulnerability Management. The combined
value of the renewal and service expansions is $2.87 million over three
years.

·      A one-year renewal for data security services with a large
US automotive client, valued at $405,000.

·      A two-year renewal with a financial services firm in
Ireland for VisionX MDR, valued at €343,370 over the period.

·      A new three-year contract for data security services with
a US-based global leader in motion control, with a total value of $548,087.

 

All of the contracts are ARR-based and reflect continued strong demand for
Smarttech247's services across the pharmaceutical, manufacturing, financial,
and industrial sectors. The Company's sales pipeline continues to grow and it
recently introduced new risk management features to the VisionX platform,
enhancing its value proposition to enterprise clients seeking comprehensive,
AI-powered cybersecurity solutions.

 

Raluca Saceanu, CEO of Smarttech247, commented:

 

"At Smarttech247, a core part of our growth strategy is to drive ARR by
focusing on long-term, multi-year agreements, increasing the renewal rate of
our shorter-term engagements, and upselling additional cybersecurity services.
 Securing and renewing these key contracts reinforces this strategy and our
continued success in securing long-term revenue streams positions us strongly
for future expansion.

 

"In a climate of rising cyber threats, businesses across all industries are
rightly placing cybersecurity at the top of their agenda. These recent
multi-year wins are a strong endorsement of the trust our clients place in us
to protect their digital operations."

 

- 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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