(Alliance News) - Shearwater Group PLC on Thursday said that its subsidiary Brookcourt Solutions has secured two key contract wins.
Shares in the London-headquartered cybersecurity services provider were up 8.2% to 49.75 pence each in London on Thursday morning.
A three-year contract has been signed with an unnamed "leading global bank" for the provision of comprehensive security and cybersecurity services.
The contract has a total value of USD3.2 million, which includes previously deferred contractual spend from the client.
In addition, following its first government department contract win in October last year, Brookcourt has secured a three-year contract with a second government department following an "intensive" one-year trial.
The total value of the contract is about GBP840,0000, and it involves the delivery of a comprehensive threat intelligence solution, covering threat, geopolitical and brand intelligence.
Both of these "strategic wins" will be accounted for in full in the financial year to March 31, 2024.
Chief Executive Phil Higgins said: "We are delighted to be awarded these two contracts, highlighting the value and expertise of Brookcourt Solutions' offering. It is especially pleasing to see further previously delayed client spend from last year flow into the current period. Additionally we are excited to see deeper expansion for the group into central government."
By Sophie Rose, Alliance News senior reporter
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Shearwater (SWG)