ECSC Group leaps after three managed services contract wins
ECSC Group's shares shot upwards on Tuesday following the company's confirmation of three further new managed services contract wins with two household name retailers and a technology services provider.
The cyber security services provider said the combined contracts will generate in excess of £0.4m in revenue over a three-year period, representing an increase of more than 15% to the managed services order book and underpinning board expectations for the division.
Of those contracts, the largest will see the AIM traded company provide 24/7 cyber security monitoring and breach detection using its proprietary Kepler Artificial Intelligence, which is managed from the Group Security Operations Centres in the UK and Australia.
Meanwhile, the second contract is to provide cyber security breach protection using ECSC's proprietary Titania Web Application Firewall (WAF) technology, designed to block hacking attacks that pass firewall protection, and the third is to provide expertise and configuration management for a WAF service supplied by the client's cloud hosting provider.
Ian Mann, chief executive of ECSC, said: "We are delighted to add two new significant long-term managed services clients, and further expand our engagement with an existing client supporting a new technology project. These contract wins demonstrate the effectiveness of our client acquisition strategy, delivering effective consulting, leading to long-term recurring revenues through managed services."
ECSC Group's shares were up 15.15% at 95.00p at 0908 BST