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.

02 April 2025

Shearwater Group plc

("Shearwater", or the "Group")

c.£8.4m contract renewal with leading telco and media company

Shearwater Group plc, the cybersecurity, advisory, and managed security services group, is pleased to announce that its Group company, Brookcourt Solutions, has secured an c.£8.4m contract extension, over two years, with a multinational telecommunications and media company.

This two-year extension, to the original three-year contract, ensures the continued delivery of advanced service assurance solutions, supporting critical business applications and processes across all technology domains.

The win further deepens Shearwater's relationship with the telco and reinforces Brookcourt Solutions' position as a trusted provider of forensic monitoring solutions, support, maintenance, training, and managed services.

This underlines Shearwater's ongoing commitment to providing industry-leading cybersecurity and monitoring solutions to major enterprise clients.

The revenue and cost of sales in respect of this contract will all be recognised in FY25, which is expected to support the Group in delivering results for the period in line with market expectations, which would represent significant annualised growth in both revenue and Adjusted EBITDA from FY24. 

Phil Higgins, CEO of Shearwater, commented: "We are delighted to have secured this contract extension, further cementing our partnership with one of our key clients. This demonstrates the strength of the Group's capabilities and our ability to deliver long-term, mission-critical security and monitoring solutions. Winning this extension reinforces our position as a trusted provider and underlines the value we bring to our clients."

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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.