Smarttech247 Share News (S247)

(Sharecast News) - Smarttech247 announced on Tuesday that it has secured a three-year contract worth $0.925m with an undisclosed existing automotive client, further expanding its relationship within the sector.

The AIM-traded firm said the contract would see the integration of an endpoint detection and response (EDR) solution into the managed detection and response (MDR) service already provided by the company.

It said the EDR solution was designed to detect, investigate, and respond to threats across endpoint devices such as computers, laptops, and servers, enhancing the client's overall cybersecurity resilience.

The deal was aligned with Smarttech247's strategy of growing its annual recurring revenue through long-term, multi-year contracts while increasing the value of existing agreements.

"We are thrilled to be expanding our provision of services with another existing client, reinforcing our strong, ongoing relationship and highlighting the continued trust our clients have in our MDR expertise to protect their critical infrastructure," said chief executive officer Raluca Saceanu.

"As organisations worldwide increasingly prioritise advanced threat detection and response, this latest contract showcases our ability to deliver security solutions at scale as our momentum continues to build."

At 1018 GMT, shares in Smarttech247 Group were up 7.65% at 9.15p.

Reporting by Josh White for Sharecast.com.