Major Contract Wins for MDR Division

RNS Number : 2547D

ECSC Group PLC

27 October 2020

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Article 7 under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

27 October 2020

ECSC Group plc

('ECSC' or the 'Company' or the 'Group')

Major Contract Wins for Managed Detection and Response Division

ECSC Group plc (AIM: ECSC), the provider of cyber security services, is pleased to announce two significant contract wins in its Managed Detection and Response (MDR) division for one of the UK's major rail companies and a national builder's merchant.

The contracts, each of which are for an initial period of three years, have a combined revenue value of £580,000 and represent over 20% of the current MDR order book. Revenues will be recognised throughout the duration of the contracts.

ECSC will provide 24/7/365 cyber security monitoring, detection and response support from the Group's Security Operations Centres (SOCs) located in the UK and Australia, employing its proprietary Kepler Artificial Intelligence (AI) technology to deliver an enhanced service.

In addition to the above, the Group has delivered its first Nebula Cloud MDR service to another new client, utilising the same AI technologies.  As a monthly subscription service this does not materially affect the current order book.

  Ian Mann, Chief Executive Officer of ECSC, commented:

"We are delighted to announce two further major contract wins for our MDR division across two diverse sectors.  For the rail company, we will be deploying our MDR services to complement its existing long-standing managed services, whilst the national builder's merchant, although an existing Assurance client for the past 10 months, is a new win for this division. 

"These new contracts demonstrate the resilience of the long-established MDR service that has continued to grow throughout 2020 in line with our strategy to expand MDR recurring revenue as a proportion of overall revenue.

"ECSC's MDR services allow clients to receive immediate alerts to potential incidents, and combine expert advice, incident response and containment, preventing escalation to costly breaches.  Following the introduction of the 2019 GDPR related fines from the Information Commissioner's Office (ICO), it is increasingly critical for all organisations to have effective cyber security breach detection and expert response."

Enquiries:

ECSC Group plc David Mathewson (Non-Executive Chairman) Ian Mann (Chief Executive Officer)	[phone]
Allenby Capital Limited (NOMAD and Broker) David Hart / Asha Chotai (Corporate Finance) Tony Quirke (Equity Sales)	[phone]
Yellow Jersey (PR and IR) Sarah Hollins Annabel Atkins Matthew McHale	[phone]

Notes to Editors:

Founded in 2000, ECSC Group plc (AIM: ECSC) is the UK's longest running full-service cyber security service provider. With an extensive range of in-house developed proprietary technologies, including advanced Artificial Intelligence (AI) systems, ECSC provides expert security breach prevention and advisory support to organisations across all sectors.

ECSC operates from two Security Operations Centres (SOCs): one in Yorkshire, UK, and the other in Brisbane, Australia. ECSC offers flexible 24/7/365 cyber security monitoring, detection, and response support to its clients, either as a fully managed service or to enhance an organisation's existing cyber security systems. In addition, ECSC's Assurance division provides guidance, certification to industry standards, and extensive testing services to allow organisations to assess their cyber security protection.

ECSC is led by a highly experienced senior management team with over 80 years' combined experience within the company, and has delivered consecutive organic growth for the last 20 years.

The Company's broad client base ranges from e-commerce start-ups to global blue-chip organisations, including 10% of the FTSE 100.

For more information please visit the following: https://investor.ecsc.co.uk/

 

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