Silver Bullet Data Services Grp PLC Corporate Cyber Attack (2382W)

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RNS Number : 2382W

Silver Bullet Data Services Grp PLC

20 December 2021

20 December 2021

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company", or, together with its subsidiaries, the "Group")

Corporate Cyber Attack

Silverbullet, a provider of digital transformation services and products, reports that it has recently been the victim of a cyber attack on its business by sophisticated hackers who solicited falsified payments of GBP365k from its corporate bank account.

The theft of monies has immediately been reported to the police, the Company's insurers and the Information Commissioner's Office ("ICO"). No client information or personal details have been compromised in any way during this theft. The Company has also appointed a cyber security firm to report on the attack and make recommendations to the Group's process and procedures, which will be implemented.

This attack in no way affects the Group's ability to perform day-to-day operations. The Company continues to have a strong cash position and is exploring all avenues for the restitution of the funds and will update the market on this in due course.

Ian James, Chief Executive Officer of Silverbullet, commented:

"We are naturally very disappointed to have been a victim of this very sophisticated cyber crime and we are working hard with the police and our insurers to recoup the monies lost. This has no impact whatsoever on the Company continuing to serve its clients and winning further business."

For further information please contact:

 
 Silverbullet                                         via IFC 
 Ian James (CEO) 
 
 Strand Hanson Limited - Financial and Nominated 
  Adviser                                             0207 409 3494 
 James Spinney / James Bellman / James Dance 
 
 Oberon Capital - Broker                              0203 179 5344 
 Mike Seabrook / Robert Hayward 
 
 IFC Advisory                                         020 3934 6630 
 Graham Herring / Tim Metcalfe / Florence Chandler    07793 839 024 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

About Silverbullet

Silverbullet's proprietary 4D advertising solution is designed to help advertisers target consumers in a "post cookie world". The product is a natural extension to its existing services business which already serves a blue-chip client base such as Heineken, Channel 4, Amazon, ITV and Ja germeister amongst many others.

The removal of third-party cookies has already been implemented by web browsers such as Firefox and Safari, with Google expected to phase out the use of cookies in 2022.

Headquartered in London, the Group employs 66 employees across five regions across the globe, including, the UK, Italy, Germany, Australia and the US. The Group continues to look at other opportunities for expansion worldwide.

The Company has an established and growing services business with significant accumulated industry experience and a proven track record of delivering strategic projects and activation services to its clients.

The majority of the Board have held senior positions at global software companies and have significant industry experience across data engineering, SAAS product development and marketing.

The Group has close technical and commercial partnerships with Salesforce, Oracle and Adobe, all of which have existing sales channels and are already delivering to clients.

The Group has established a joint venture and strategic partnership with Local Planet, a scaled network of over 60 agencies across the globe which transact, in aggregate, over US$16 billion of media buying on behalf of their clients. The Local Planet joint venture, established in December 2020, which has already generated material services revenues for the Group, presents a significant opportunity to provide further data services and the 4D product to the Local Planet agency network.

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December 20, 2021 09:29 ET (14:29 GMT)