Contract win update

RNS Number : 6389O

Smarttech247 Group PLC

02 February 2023

 

2 February 2023

Smarttech247 Group PLC

("Smarttech247", the "Group" or the "Company")

Contract win update

Smarttech247, a multi-award-winning provider of AI-enhanced cybersecurity services providing automated managed detection and response for a portfolio of international clients, is pleased to provide an update on contract wins during the last quarter.

The Company, which was admitted to trading on AIM in December 2022, has secured a number of new multi-year contracts utilising its automated Managed Detection and Response Platform, VisionX.  These include a three-year agreement with a large US tech company headquartered in Massachusetts and a two-year agreement with a prestigious university in Ireland worth c.$400,000 and c.$450,000 respectively over the lives of the contracts. The contract wins build on the three-year $800,000 contract with a Fortune 150 leading automotive retailer in the USA with annual revenues of over $20 billion which the Company won in October 2022.

Raluca Saceanu, Chief Executive Officer of Smarttech247, commented :

"We are delighted to have been awarded a number of multi-year contracts with prestigious organisations. It demonstrates Smarttech247's ability, not just in the UK and Ireland, but overseas, to deliver cybersecurity solutions to a growing list of global blue-chip clients. It also demonstrates the rapid adoption of our new platform, VisionX.

"Cyber threats are increasing in number and complexity every year. To protect brand reputation, customers' private and payment information, as well as sensitive IP, organisations are taking a focused cyber management approach to reduce their risk.

"We look forward to working in partnership to provide improved security solutions to all our customers and will update the market on future progress in due course."

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For further information please contact:

Smarttech247 Group PLC	Tel: [phone]
Ronan Murphy, Executive Chairman Raluca Saceanu, Chief Executive Officer Nicholas Lee, Finance Director
SPARK Advisory Partners Limited - Nominated Adviser	Tel: + 44 (0) 20 3368 3550
Mark Brady / Adam Dawes
Shard Capital - Broker	Tel: [phone]
Damon Heath
Fortified Securities - Adviser	Tel: [phone]
Guy Wheatley, CFA
Yellow Jersey PR Sarah Hollins / Annabelle Wills / Bessie Elliot	Tel: [phone]

About Smarttech247

Smarttech247 is a multi-award winning automated MDR (Managed Detection & Response) company. Its platform is trusted by international organisations and provides threat intelligence with managed detection and response to provide actionable insights, 24/7 threat detection, investigation and response.

The Company's services are geared towards proactive prevention and it achieves this by utilising the latest in cloud, big data analytics and machine learning, along with an experienced incident response team.

Smarttech247's offices are located in Ireland, United Kingdom, Romania, Poland and the USA. The Company was admitted to AIM on 15 December 2022.

For further information please visit www.smarttech247.com

 

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