Extended contract signed with crypto currency firm

RNS Number : 4659V

Brandshield Systems PLC

15 April 2021

 

15 April 2021

BrandShield Systems plc

("BrandShield", or the "Company")

Extended contract signed with leading global crypto currency investment company

BrandShield Systems plc (AIM: BRSD), a leading provider of cybersecurity solutions from brand protection to online threat hunting, is pleased to announce that it has extended its contract to provide services to a leading, global financial institution specialising in crypto currency and blockchain. 

Under the terms of the contract BrandShield will continue to provide a comprehensive anti-phishing and online threat hunting solution.  The Company will protect the customer against fraudulent online activity including, but not limited to, the impersonation of the financial institution, rogue websites, impersonation on social media, executive impersonation, phishing attempts and trademark infringements.

The customer has elected to retain confidentiality, however the extension of this ongoing contract extends BrandShield protective coverage of the financial sector further and, in particular, deepens its presence in the crypto currency verticals with eToro and Simplex remaining flagship clients.

Yoav Keren, CEO of BrandShield, said :

"We are delighted to have extended the ongoing contract with this valued client into what is now a material contributor to our Annual Recurring Revenue.  The financial sector continues to suffer from an unprecedented increase in the prevalence of fraudulent activity and BrandShield has continued to develop a broad and growing range of clients within it. 

"The cryptocurrency and blockchain industry has always been a prominent target for online fraud and phishing activities. The latest rapid growth in the cryptocurrency space, is a catalyst for fraudulent activities affecting companies and users active in the field.   

"Notable client wins in 2021 have come from a range of economic sectors proving the value that BrandShield can bring to companies in any field.  The problems of fraud, whether through physical counterfeiting or digital phishing, are universal.

"We are witnessing a rapid increase in demand for the BrandShield solution in the financial industry in particular with consistent growth continuing in other sectors such as pharmaceuticals, fashion, entertainment, consumer goods and sports and leisure."  

For further information please visit  https://www.brandshield.com/  or contact:

BrandShield Systems plc Yoav Keren, CEO	[phone]
Spark Advisory Partners Limited  (Nominated Adviser) Neil Baldwin / Andrew Emmott / James Keeshan	[phone]
Shore Capital  (Joint Broker)  Toby Gibbs / James Thomas / Sarah Mather (Corporate Advisory) Henry Willcocks (Corporate Broking)	[phone]
Tennyson Securities  (Joint Broker) Peter Krens	[phone]

About BrandShield

BrandShield is a provider of cybersecurity solutions from brand protection to online threat hunting. BrandShield detects online threats and takes them down. The Company's client base is a growing list of organisations including Fortune 500 and FTSE100 companies. By utilising AI and big-data analysis, BrandShield monitors, detects, and removes online threats facing companies. These threats include phishing, social phishing, executive impersonation, fraud, brand abuse, and counterfeits. 

For more information, visit  www.brandshield.com . 

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