Shearwater Regulatory News (SWG)

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (as amended), which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018. Upon publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

20 December 2024

Shearwater Group plc

("Shearwater", or the "Group")

£2.3m Contract wins

Significant Services contract win with leading global financial services provider

Shearwater Group plc, the cybersecurity, advisory and managed security services group, announces a series of new contract wins with a total contract value of £2.3m, including a new major £1.5m contract win for portfolio company Brookcourt Solutions, all of which will be recognised in FY25. 

Under the terms of the £1.5m agreement, Brookcourt Solutions will deliver an Advanced Email Encryption Managed Service Platform to a leading global financial organisation, leveraging a cutting-edge platform developed by its trusted technology partner. This Email Encryption Platform offers the client a secure, customisable, and expertly maintained solution to safeguard sensitive communications and significantly enhance its cybersecurity posture in today's complex digital landscape.

This latest win follows on from a number of smaller Services contract wins in the past week which have a total value of £0.8m and span diverse end markets including government, telecommunications and national distribution. Momentum is continuing to build through H2, supporting the Group's ability to deliver full year results in line with market expectations.

Phil Higgins, Group Chief Executive Officer of Shearwater Group, commented: "We are delighted to secure this landmark contract with a prestigious global financial organisation, as well as a number of smaller deals in the past week which include further penetration of central Government, a strategic priority for the Group.

These achievements underscore the quality of our offering and ability to collaborate with leading partners to deliver high-value services and solutions through our portfolio companies. As cybersecurity and operational efficiency become top priorities for organisations, these wins reinforce our role as trusted advisors in meeting these critical challenges."

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About Shearwater Group plc

Shearwater Group plc is an award-winning group providing cyber security, managed security and professional advisory solutions to create a safer online environment for organisations and their end users. 

The Group's differentiated full service offering spans identity and access management and data security, cybersecurity solutions and managed security services, and security governance, risk and compliance. Its growth strategy is focused on building a scalable group that caters to the entire spectrum of cyber security and managed security needs, through a focused buy and build approach.

The Group is headquartered in the UK, serving customers globally across a broad spectrum of industries.

Shearwater shares are listed on the London Stock Exchange's AIM under the ticker "SWG". For more information, please visit www.shearwatergroup.com.