Crossword Cybersecurity PLC Launch of vCISO Product (6008Z)

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RNS Number : 6008Z

Crossword Cybersecurity PLC

21 May 2019

21 May 2019

Crossword Cybersecurity plc

LAUNCH OF VIRTUAL CHIEF INFORMATION SECURITY OFFICER (vCISO) PRODUCT WITH A GLOBAL FINANCIAL SERVICES INSTITUTION

Crossword Cybersecurity plc (AIM: CCS, "Crossword", the "Company" or the "Group"), the cyber security technology commercialisation company, is pleased to announce that its Consulting division has launched a new product, virtual Chief Information Security Officer (vCISO) in partnership with Reliance acsn Ltd ("Reliance"), the IT security experts.

One of the key cybersecurity challenges organisations are currently facing, is understanding and implementing the most appropriate levels of cyber maturity for their company, and therefore allocating their cyber security budget efficiently. In response to these challenges, Crossword launched vCISO.

Crossword's vCISO managed services are a virtual/remote CISO service, provided by Crossword Consulting cyber security experts in conjunction with Reliance acsn's Managed Detect and Respond service via their Security Operations Centre (SOC). The vCISO services provide clients with a virtual cybersecurity team and network protection at a fraction of the cost of building their own team and clients are also able to leverage the deep cyber security and technical expertise provided by Crossword and Reliance.

We have launched this product with our first client, a Global Financial Services Institution this month and expect to onboard it with several other clients later in 2019.

Stuart Jubb, Managing Director Crossword Consulting Ltd, commented: "We are delighted to have launched our virtual CISO service with a three-year contract, Crossword's largest value contract to date. Our first client is already seeing the benefits of having access to a top security team, at a fraction of the cost. We have a number of opportunities in our pipeline for the vCISO service and expect this will be a core part of our business in the future."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Contacts

Crossword Cybersecurity plc - Tel: [phone]

Email: [e-mail]

Tom Ilube, Chief Executive Officer

Mary Dowd, Finance Director

Grant Thornton (Nominated Adviser) - Tel: [phone]

Colin Aaronson / Jamie Barklem /Niall McDonald

Hybridan LLP (Broker) - Tel: [phone]

Claire Louise Noyce

About Crossword Cybersecurity plc

Crossword Cybersecurity plc focuses on the development and commercialisation of university research-based cyber security related software and cyber security consulting. The Group's specialist cyber security product development and software engineering teams work with its university partners to develop the research concept into a fully-fledged commercial product that it will then take to market. The Group's aim is to build up a portfolio of revenue generating, intellectual property based, cyber security products. Rizikon Assurance, Crossword's leading product, is a SaaS platform that enables medium to large companies to assess the cyber maturity and GDPR readiness of their suppliers. Crossword's team of expert cyber security consultants leverages years of experience in national security, defence and commercial cyber intelligence and operations to provide bespoke advice tailored to its clients' business needs.

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May 21, 2019 02:00 ET (06:00 GMT)