Shearwater Regulatory News (SWG)

11 January 2022RNS Reach

Shearwater Group PLC

("Shearwater", or the "Group")

Contract Win

Pentest Limited secures new contract win with a global technology business

Shearwater Group plc, the organisational resilience group that provides cybersecurity advisory and managed security services, announces that its group company, Pentest Limited, has secured a significant new contract with a global technology business worth £300,000. The majority of the contract's value is expected to be realised in the current full year and the contract contributes to the Group's current full year expectations.

Under the terms of this contract, Pentest will deliver a range of vulnerability assessment and penetration testing services to the business, in relation to a major new project. Pentest will perform an in-depth investigation into the organisation's resilience, with the continued aim of uncovering any IT security vulnerabilities by simulating the actions of a threat actor.

Phil Higgins, Chief Executive Officer of Shearwater Group plc, commented:

"Successfully securing such a contract win with a global technology organisation highlights the recognition of both Pentest and the wider Group, as well as the quality and appeal of our offering. We take great pride in being awarded opportunities of this nature, allowing the group to positively contribute towards evaluating and improving an organisation's security and resilience."

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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 help 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 across the globe 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.