Shearwater Regulatory News (SWG)

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17 September 2019

SHEARWATER GROUP PLC

Pentest secures million-dollar contract with global technology corporation

Xcina Consulting enters into preferred supplier agreement

Shearwater Group plc, the organisational resilience group, announces that its group company, Pentest has secured a one-year contract with a global technology corporation worth in excess of US$1 million. At the same time, Xcina Consulting, another Shearwater group company has also signed a 'Master Consulting Agreement' and become a preferred supplier to the same organisation.

Under the terms of the contract, Pentest will deliver a framework for the provision of vulnerability assessment and penetration testing services to the organisation. This will form a key function within the organisation's global cloud technology infrastructure.

Through penetration testing, Pentest will perform an in-depth investigation into the organisation's resilience with the aim of uncovering any IT security vulnerabilities. This method is designed to simulate the actions of a threat actor, exposing and classifying vulnerabilities which could be used to exploit or damage an organisation if left unremedied.

Phil Higgins, CEO of Shearwater Group plc, commented:

"Securing this contract win and preferred supplier agreement for Pentest and Xcina respectively is an excellent illustration of the cross-selling opportunities we are seeing as a Group.

"Since April this year, the Group has generated 90+ of these collaborative selling opportunities, which continue to be reviewed and realised.

"This is a good example of how we can improve a customer's overall experience and enhance their organisational resilience by leveraging a combination of our software, services and solutions from across the Group."

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About Shearwater Group plc

Shearwater Group plc is an award-winning organisational resilience group that provides cyber security and managed security services to help assure and secure businesses in a connected global economy.

The Group's comprehensive cyber security solutions and services maintain trust between users, provide assurance around the protection of information assets and critical infrastructure, and support organisations' operational effectiveness. Its capabilities include identity and access management and data security, cyber security solutions and managed security services, and security governance, risk and compliance.

The Group is headquartered in the UK with offices in the US, UK and Europe, serving customers across the globe who are active in 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.

About Pentest

Pentest provides research-led penetration testing, red teaming, and offensive security consultancy services designed to uncover IT security vulnerabilities, support ongoing information security efforts, and to increase the digital resilience of organisations. For more information, please visit www.pentest.co.uk.

About Xcina Consulting

Xcina Consulting provides business and technology risk assurance and advisory services in support of organisational resilience. For more information, please visit www.xcina.co.uk.