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Thanks, impressive then. More importantly seemingly a geographic and vertical market spread.
I don't know what multiple of arr a standard saas business is valued at, assume differs between UK and us.
The figures are in the Audited accounts which are available now on the company's website.
Thanks for the numbers on acuity, although I don't know how he would come by these?
If correct shows incredible progress and value for saas company, pipeline states can sometimes be a little misleading and it would be good to have a weighted pipeline number as well. A pity drumz is not a larger or majority holder in this business.
Had a little too up yesterday from divs elsewhere, will continue to do so at this level as they are received.
https://drumzplc.s3.amazonaws.com/library/Drumz%20plc%20Annual%20Report%20Dec%202020.pdf
Good to see the directors are not taking a lot in salaries or other incentives out of the business at the current time. Angus Forrest's salary for last year was £25k form Drumz, although we don't know whether he received any fee directly from Acuity.
Should have added that is for Acuity.....
https://twitter.com/hareng_rouge/status/1397165793817907208/photo/1
Value of sales pipeline at the year end has increased by 345% over the previous year.
Eh? Weird to be sorry you've sold? Why wouldn't I be?
lol sorry???? What do u mean by sORRY??? HOW Weired _ what a weird thing to say
Sorry to hear that Draft. Where's the commentary about finding something in Europe? Their broad policy is European Tech, but in practice they're looking at small UK-based SaaS businesses with global clients.
And Skid - they're looking at stuff which is too small to float and where the management isn't well-rounded enough. They help fix that problem and turn them into businesses that might well be large enough to float, but would be attractive to a host of trade or VC buyers too.
This is a long haul but I'm a fan of what they're doing.
Hi draft.
One of the few companies of this type where the asset value is probably above the share cap, kcr valued at share price rather than underlying value and acuity valued at buy price.
Correct, will find it difficult to offload kcr at anything like underlying value.
I think with the number of spacs chasing every private tech company in the UK value is very hard to find, so europe might be a natural choice to look.
their commentary about finding something in europe doesnt wash with me
and huge downscaling of property stake
seem another raise inevitable at some point now
Draft....and.....
Joe STENSON
Fri, May 14, 2021, 10:36 AM·3 min read
Ireland's health authority said Friday it had shut down its computer systems after experiencing a "significant ransomware attack", a week after the largest US fuel pipeline network was also targeted.
The Irish attack was blamed on international criminals and was said to be targeting healthcare records, but officials said patient safety was not at risk.
"We have taken the precaution of shutting down all our IT systems in order to protect them from this attack and to allow us (to) fully assess the situation with our own security partners," the Health Service Executive (HSE) said.
"We apologise for inconvenience caused to patients and to the public and will give further information as it becomes available," it added, stressing Ireland's coronavirus vaccination programme was unaffected and "going ahead as planned".
Ireland's ambulance service is also "operating as per normal with no impact on emergency ambulance call handling and dispatch nationally", the HSE added.
And Irish premier Micheal Martin was pressing ahead with a visit Friday to Britain to meet Prime Minister Boris Johnson amid tensions over Brexit, aides said.
Liz Canavan, a top official in Martin's office, said the outage was also affecting child protection services, which are hosted on HSE servers.
But at a televised Covid-19 briefing, she stressed: "Emergency departments are operating as normal and if you need to attend a hospital, please do so."
Another ransomware attack last Friday forced the shutdown of the United States' largest fuel distribution system, leading to some panic buying at gasoline stations along the east coast.
Moscow has rejected US accusations that a Russia-based group was behind the cyberattack.
Ransomware attacks use a type of malware that encrypts files on an infected computer, normally via an email attachment or download, and demands money to unlock them.
HSE chief executive Paul Reid said the attack in Ireland was "an internationally operated criminal operation", and the authority was working with police, the army and its major IT security providers.
https://news.yahoo.com/ireland-shuts-down-health-system-093654600.html
Draft.
It's a good question, why are you holding, where are you expecting the company to go in the next two years?
You don't need to tell us every day of the cost to companies of cyber attacks, and the opportunity this presents to cyber companies -but acuity really is a small player which drum own 20% off, any profit hardly pays the board fees.
jog on saigonsally
I own a small amount as a residue from the engi days.
Remember it is a really really small company that owns 20% of a really really small cyber company, which appears to be doing well against a small base. Acuity really is a minnow but does appear to be expanding well.
Unless it is able to execute on its strategy (dispose of the residential stake) and start building a portfolio of tech companies at a reasonable price, agree I cannot see the point of it apart from paying directors a nice retainer.
I own shares in Drumz and I am marginally ahead but I totally fail to see the point of this company. At a time when business is being brought to its knees by cyber attacks surely this one should be flying. The fact that it is sinking leads me to suspect it is utterly useless. Nick, you own them - or used to - is there any reason to hold?
SS
https://www.euronews.com/2021/05/05/belgium-s-parliament-and-universities-hit-by-cyber-attack
Top U.S. fuel pipeline operator Colonial Pipeline has shut its entire network after a cyber attack, the company said in a statement on Friday.
Colonial's network supplies fuel from U.S refiners on the Gulf Coast to the populous eastern and southern United States. The company transports 2.5 million barrels per day of gasoline, diesel, jet fuel and other refined products through 5,500 miles (8,850 km) of pipelines.
Colonial Pipeline says it transports 45% of East Coast fuel supply.
The company learned of the attack on Friday and took systems offline to contain the threat, it said in the statement. That action has temporarily halted operations and affected some of its IT systems, it said.
The company has engaged a third-party cybersecurity firm to launch an investigation, and Colonial has contacted law enforcement and other federal agencies, it said.
Colonial did not give further details or say for how long its pipelines would be shut.
Reuters reported earlier on Friday that Colonial had shut its main gasoline and distillate lines.
During the trading session on Friday, Gulf Coast cash prices for gasoline and diesel edged lower.
Both gasoline and diesel futures on the New York Mercantile Exchange rose more than crude prices during the day. Gasoline futures gained 0.6% to settle at $2.1269 a gallon, while diesel futures rose 1.1% to settle at $2.0106 a gallon.
Longer-term price effects will depend on the amount of time that the lines are shut. If barrels are not able to make it onto the lines, Gulf Coast prices could weaken further, while prices in New York Harbor could rise, one market participant said.
Colonial significantly shut down its gasoline and distillate lines during Hurricane Harvey, which hit the Gulf Coast in 2017.
During that time, spot Gulf Coast gasoline prices rose to a five-year high, while diesel prices rose to around a four-year high.
The founders of a British cybersecurity start-up have pocketed £48m as part of a new funding round.
London-headquartered 6point6, which helps companies upgrade their technology and test it for weaknesses, is now valued at $100m (£72m) after asset manager Intermediate Capital Group bought a minority stake in the business.
Chief executive David Webb’s 37pc stake was worth £27m as part of the sale, while co-founder Chris Porter saw his net worth rise to £21m thanks to his 30pc stake.
The company offers so-called “penetration testing” services to businesses, where hackers are allowed to probe their systems for weaknesses to simulate a real-world cyberattack.
“Looking back five or so years ago, nobody really talked about hacks that happened and data being exposed. So nobody really saw what the consequences were,” Mr Webb said, adding that public understanding of attacks was now much higher. 6point6 now plans to expand across Europe and eventually to the US following the investment.
“It's almost like 52 countries,” Mr Webb said of the US market, “it’s slightly different regulations and slightly different legislations. I think the best place for us to start will be cyber. Cyber is a massively growing business.”
Taking the investment from Intermediate Capital Group was intended to help the business grow more quickly, especially as it continues to experience a spike in demand in engineering contracts during the coronavirus pandemic.
“For us, this was about finding the right partner that was going to allow us to scale the business,” Mr Webb said. “Organic growth is good but we want to go faster.”
The start-up has attracted customers including the BBC, Telegraph Media Group and ClearBank.
6point6 was also paid by the Home Office to build technology for its visa application service.
Case study:
https://acuityrm.com/content/uploads/2021/01/Acuity_LanguageLine_010521.pdf
Judging by the constant updates from Acuity on Twitter, I believe their offering is gaining traction in the marketplace. Looking forward to the next update.
darktrace floated today