Drumz investee company signs deal for Stream platform referral

(Alliance News) - Drumz PLC on Friday said its investee company Acuity Risk Management Ltd has secured a new partnership with Tutela Solutions, as it builds its presence in North America.

The Beaconsfield, England-based investor in the software sector said that under the deal, Tutela will refer organisations looking for a governance, risk and compliance solution to Acuity's Stream integrated risk manager platform.

Tutela is a Florida-based GRC solutions developer and provider.

Drumz Chief Executive Officer Angus Forrest said: "Acuity is growing strongly and is implementing a partnership strategy to build a bigger presence in the North American market for GRC solutions. This builds on the customer win announced in February and is a significant step to accelerate growth of revenues and customer numbers in the world's largest market for risk management software."

In February, Drumz announced that 25%-held Acuity had won two contracts for the Stream platform in North America with a combined value of GBP300,000 over a three-year period.

Acuity Chief Executive Officer Kerry Chambers said: "The combined expertise of Acuity and our new partner, Tutela, provides a great opportunity for us in the US where there is mounting regulatory pressure. An Integrated risk management strategy can provide the necessary clarity to risk that US organisations require."

Drumz shares were unchanged at 0.65 pence each in London on Friday afternoon.

By Harvey Dorset, Alliance News reporter

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