Contract Win

RNS Number : 2527T

Shearwater Group PLC

11 October 2017

 

11 October 2017

SHEARWATER GROUP PLC

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

Contract Win

Shearwater Group plc (AIM: SWG), the digital resilience group, is pleased to announce that its portfolio company, SecurEnvoy, has been awarded its first Business-to-Consumer ("B-2-C") contract under its new growth strategy.

Acquired by the Group in May 2017, SecurEnvoy is a leading provider of award-winning multifactor authentication ("MFA") software solutions, which utilise a user's mobile device as the 'something you own' component of MFA.  The business has enabled over 1,000 organisations across the world to bolster their identity and access management security with innovative and easy to deploy authentication solutions, which maximise the value of a customer's existing technology infrastructure.

The award of SecurEnvoy's inaugural B-2-C contract demonstrates the universal application of the business' MFA software and emphasises how the criticality of authenticating a user is moving beyond the enterprise to mainstream consumer applications.

Whilst the terms of the contract are confidential, it is expected to generate income for the Company for a minimum period of the next three years.

Michael (Mo) Stevens, Group Chief Executive Officer of Shearwater Group plc, commented:  "This is a great win for SecurEnvoy and an important growth milestone since the team joined Shearwater in May this year.  The opportunities for integrating the business' authentication software within B-2-C platforms are considerable and we are delighted to have secured what we hope to be many new wins under this expanded strategy."

For more information please visit www.SecurEnvoy.com or www.theshearwatergroup.co.uk.

ENDS

Contacts:

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 / Alex Aylen - 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]

 

END

 

 

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