Contract Win for Smarttech247

RNS Number : 9231C

Pires Investments PLC

24 June 2021

 

24 June 2021

PRESS RELEASE

Pires Investments plc

("Pires" or the "Company")

Contract Win for Smarttech247

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology provide an update on its investment in Sure Valley Ventures ("SVV") in relation to SVV's recent investment in Smarttech247 and Smarttech247's recent major contract win .

Smarttech247 (incorporated in the Republic of Ireland as Zefone Limited), is a global artificial intelligence ("AI") based cyber security cloud business that protects enterprises as they migrate to cloud-based IT operations. Smarttech247 has over 100 technology partners, including Tanium and Crowdstrike, and 50 clients based in Europe and the US.

Smarttech247 has announced that it has been awarded a multi-year contract for managed cyber security services by a global advanced manufacturing company, employing over 100,000 staff and a leading member of the Fortune Global-1000.  The contract was awarded to support strategic cyber security initiatives and ensure compliance to the latest industry regulated cyber security standards.

This contract will see the cybersecurity services provider deploy its managed detection and response offering which combines the Artificial Intelligence and automation of security tools with Smarttech247's own 24/7 Cyber Security Operations Centres.

Further information on Smarttech247 can be found on its website at https://www.smarttech247.com/ .

Pires has a circa 20% interest in SVV, a venture capital fund focused on investing in the software technology sector with a specific focus on Artificial Intelligence, the Internet of Things and Immersive Technologies.

Peter Redmond, Chairman of Pires commented:

"We are pleased to note Sure Valley Ventures' new investment in Smarttech247 and the company's new contract win. Smarttech247 is well positioned to capitalise upon the rapid growth across the security sector as businesses continue to be targeted by cyber attacks. With the business looking to IPO in the short term, we believe that this is the opportune moment for SVV to invest in Smarttech247."

Enquiries:

Pires Investments plc Peter Redmond, Chairman Nicholas Lee, Director	Tel: [phone]
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Joint Broker Tennyson Securities Peter Krens	Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills	Tel: [phone]

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies, Big Data and digital assets, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/ .

About Smarttech247

Smarttech247 is an established company in cyber security management with a successful track record of revenue growth and profitability and is positioned at the intersection of three major cyber security growth markets:

· Security threat incidents

· Growth of cloud adoption amongst both large and small-medium enterprises

· Proliferation of cyber security data generation that needs to be integrated

Smarttech247 is able to provide 24/7 threat detection, investigation and response. The company has over 100 employees, 50 customers, 100 technology partners and multiple security operation centres across Europe.

For further information, visit: https://www.smarttech247.com/ .

 

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