Acquisition of Crystal IT Services Limited

RNS Number : 1555M

Shearwater Group PLC

26 April 2018

 

26 April 2018

SHEARWATER GROUP PLC

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

Acquisition of Crystal IT Services Limited

Continued expansion of Xcina

Shearwater Group plc (AIM: SWG), the digital resilience group, is pleased to announce that it has acquired the business and assets of Crystal IT Services Limited ("Crystal IT" or the "Business"), a Cardiff based provider of cyber security and business information technology solutions (the "Acquisition"). 

Founded in 2004 by its current Managing Director, Chris Benson, Crystal IT has a portfolio of customers including a number of small and medium enterprises and not-for-profit organisations, to whom it provides information, network and application security solutions, cyber essentials advice, and outsourced IT services and training for companies seeking compliance with the upcoming GDPR legislation.

As part of the Acquisition, the Business has been rebranded Xcina IS and will form a component of the Group's information security and assurance company, Xcina, augmenting its services capability.  Chris will lead the rebranded Business and Shearwater will look to invest in Xcina IS to support its organic growth and meet the increasing demand for resilient information services from Xcina's expanding customer base.

For more information, please visit https://www.xcina.co.uk/is.

Michael (Mo) Stevens, Group Chief Executive Officer of Shearwater, commented: "I'm delighted to welcome Chris and the team to the Group.  Since the launch of Xcina in July last year, the business has made fantastic progress in broadening and deepening its suite of capabilities.  I look forward to seeing Crystal IT add to Xcina's service offering as we continue to develop Xcina into a leading information security and assurance company."

Enquiries:

Shearwater Group plc David Williams Michael (Mo) Stevens	www.theshearwatergroup.co.uk [phone] [phone]
Cenkos Securities plc - NOMAD and Broker Bobbie Hilliam - NOMAD Julian Morse / Michael Johnson - Sales	[phone]
WH Ireland Limited - Financial Advisor Mike Coe Ed Allsopp	www.whirelandcb.com [phone]
Powerscourt - Financial PR Ben Griffiths, Andy Jones	[e-mail] [phone] [phone]

 

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