Update on Acquisition Strategy

RNS Number : 5546Q

Crossword Cybersecurity PLC

29 June 2022

 

Crossword Cybersecurity Plc

Update on Acquisition Strategy

29 June 2022 - London, UK - Crossword Cybersecurity Plc (AIM:CCS, "Crossword", the "Company" or the "Group"), the cybersecurity solutions company focused on cyber strategy and risk, is pleased to update the market on progress on its acquisition strategy. 

Crossword's strategy is to continue building on its organic revenue growth and to acquire outstanding cyber security companies that complement and diversify its revenue base. Following the successful integration of three acquisitions since May 2021, Crossword is seeking to acquire a number of companies that will help drive Crossword's growth ambitions. Following a market mapping exercise, e arly-stage discussions are being held with a number of candidates that are leading to positive conversations currently taking place. 

There is no guarantee that any acquisition will proceed but conversations are progressing with target companies.

Tom Ilube, CEO of Crossword Cybersecurity Plc, commented: "Crossword is an ambitious company that is keen to scale quickly. Our acquisition strategy is based on providing win-win outcomes for both Crossword and the acquired companies, resulting in improved cross-selling, client customer experience and increased operational efficiency as a company. We recognise that we can leverage Crossword's reputation in the market as an excellent home for the best in cyber security technology and expert teams and in doing so rapidly scale-up the business by making one or more strategically important acquisitions.  We are conducting a number of conversations in parallel and will keep shareholders updated on relevant developments."

Contacts

Crossword Cybersecurity plc - Tel: [phone]

Email: [e-mail]

Tom Ilube, Chief Executive Officer

Mary Dowd, Chief Financial Officer

Grant Thornton (Nominated Adviser) - Tel: [phone]

Colin Aaronson / Jamie Barklem / Daphne Zhang / Ciara Donnelly

Hybridan LLP (Broker) - Tel: [phone]

Claire Louise Noyce

For media enquiries contact:

Financial PR:

David Hothersall, Kinlan Communications

[e-mail] - Tel: [phone]

General:

Duncan Gurney, GingerPR

[e-mail] - Tel: [phone]

About Crossword Cybersecurity plc

Crossword offers a range of cyber security solutions to help companies understand and reduce cyber security risk. We do this through a combination of people and technology, in the form of SaaS and software products, consulting, and managed services. Crossword's areas of emphasis are cyber security strategy and risk, supply chain cyber, threat detection and response, and digital identity and the aim is to build up a portfolio of cyber security products and services with recurring revenue models in these four areas. We work closely with UK universities and our products and services are often powered by academic research-driven insights. In the area of cybersecurity strategyand risk our consulting services include cyber maturity assessments, industry certifications, and virtual chief information security officer (vCISO) managed services.

Crossword's end-to-end supply chain cyber standard operating model (SCC SOM) is supported by our best-selling SaaS platform, Rizikon Assurance, along with cost-effective cyber audits, security testing services and complete managed services for supply chain cyber risk management. Threat detection and response services include our Nightingale AI-based network monitoring, Nixer to protect against application layer DDoS attacks, our Trillion and Arc breached credentials tracking platforms, and incident response. Crossword's work in digital identity is based on the World Wide Web Consortium W3C verifiable credentials standard and our current solution, Identiproof, enables secure digital verification of individuals to prevent fraud.

Crossword serves medium and large clients including FTSE 100, FTSE 250 and S&P listed companies in various sectors, such as defence, insurance, investment and retail banks, private equity, education, technology and manufacturing and has offices in the UK, Poland and Oman. Crossword is traded on the AIM market of the London Stock Exchange.

Visit Crossword at https://www.crosswordcybersecurity.com/

 

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