Shearwater Group PLC Contract Win
October 11 2017 - 2:00AM
RNS Non-Regulatory
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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