TIDMSWG

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              www.theshearwatergroup.co.uk 
  David Williams                    +44 (0) 797 014 8016 
  Michael (Mo) Stevens              +44 (0) 780 171 2582 
 Cenkos Securities plc 
  - NOMAD and Broker 
  Bobbie Hilliam - NOMAD 
  Julian Morse / Alex Aylen 
  - Sales                          +44 (0) 20 7397 8900 
 WH Ireland Limited - Financial    www.whirelandcb.com 
  Advisor                           +44 (0) 117 945 3470 
  Mike Coe 
  Ed Allsopp 
 Powerscourt - Financial           shearwater@powerscourt-group.com 
  PR                                +44 (0) 20 7250 1446 
  Ben Griffiths, Andy Jones

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 11, 2017 02:00 ET (06:00 GMT)

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