Drumz Plc New Contract wins and partners for Acuity

 
TIDMDRUM 
 
This announcement contains inside information for the purposes of Article 7 of 
the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue 
of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the 
publication of this announcement via a Regulatory Information Service, this 
inside information is now considered to be in the public domain. 
 
13 February 2023 
 
                                  Drumz plc 
 
                          ('Drumz' or the 'Company') 
 
                  New Contract wins and partners for Acuity 
 
Drumz plc (AIM:DRUM) is pleased to announce that Acuity Risk Management Limited 
('Acuity'), an investee company in which Drumz has a 25% shareholding has won 
contracts with two significant new customers to use its software platform, 
STREAM® Integrated Risk Manager(" STREAM®  "), which is used by private and 
public sector clients to manage their cyber security and other enterprise 
risks. 
 
Contract wins 
 
The first contract win is with a North American bank which is adopting STREAM® 
 to improve its enterprise risk management.  This solution has the potential to 
be replicated by many other banks and financial institutions. 
 
The second contract is with a leading provider of public cloud and 
cybersecurity solutions and services, headquartered in Europe with operations 
in Europe, North and South America which is adopting STREAM® for cyber security 
and IT risk management. 
 
The aggregate initial order value for these two contracts is c.£300,000 over 
three years, equivalent to £100,000 per annum. 
 
New partners 
 
Acuity believes there is an opportunity to accelerate its growth, particularly 
in the North American market which represents 45% of global demand. To achieve 
growth in this market an experienced channel manager was recruited by the 
Company in August 2022.  In addition, two new partners have recently been 
appointed in North America and revised sales targets have been agreed with 
other existing partners.  Both new partners are large corporate entities who 
specialise in cyber security risks for financial, defence, healthcare and 
general market sectors. 
 
Angus Forrest, Chief Executive of Drumz plc, said: "These contract and partners 
wins are evidence that the strategic changes to the distribution channels and 
new management appointments which have been made are working and setting Acuity 
up for faster and transformational growth over the short to medium term." 
 
Simon Marvell, CEO of Acuity said: "The Acuity business has been making great 
progress with the investment and support from Drumz and since the recruitment 
of Kerry Chambers as Commercial Director in April 2021. These two new exciting 
customer wins are testament to performance improvements across all sales and 
marketing operations which are now starting to bear fruit." 
 
For further information please 
contact: 
 
Drumz Plc                              www.drumzplc.com 
 
Angus Forrest                          [phone] 
 
WH Ireland (NOMAD & Broker)            www.whirelandcb.com 
 
Mike Coe / Sarah Mather                [phone] 
 
Peterhouse Capital Limited (Joint 
broker) 
 
Lucy Williams / Duncan Vasey           [phone] 
 
Note to Editors 
 
Drumz plc 
 
Drumz plc (AIM): DRUM) is an investing company focused on investing in and 
acquiring established software businesses that own good technology, have 
quality customers and which could better exploit their assets and accelerate 
their growth with the injection of experienced management and new funds. 
 
Drumz will, where necessary, make available some of its experienced management 
team and provide finance to facilitate the necessary changes, so that the value 
of the businesses in which Drumz invests will be transformed over a two to four 
year period. In due course, the new Directors expect to dispose of such 
businesses, in whole or in part, in order to realise value for Drumz and its 
shareholders. 
 
Acuity Risk Management 
 
Acuity is an established provider of risk management services. Acuity's 
award-winning STREAM® is a GRC software platform, which collects data about 
organisations to improve business decisions and management. It is used by 
around 70 organisations in markets including government, utilities, defence, 
broadcasting, manufacturing and healthcare. Most customers use it for managing 
cybersecurity and IT risks and for compliance with ISO 27001 and other 
standards and regulations. STREAM® is sold on a SaaS or private cloud delivery 
(on-premise) basis, typically with a three year licence, invoiced annually in 
advance. Sales are made directly through the Company's own sales team and via a 
growing network of partners in the UK and the US. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

February 13, 2023 02:00 ET (07:00 GMT)