Osirium Technologies Share Discussion Threads

[hedgehog 100] 14/9/2021 17:32

Conduity Capital (CCAP) is currently arranging the acquisition of cybersecurity company Smarttech247 for £33.5M.

For its last financial year Smarttech247 had revenue of EUR4.8 million, which equates to about £4.1M., which means that it is being valued at over eight times historic revenue.

This demonstrates the competitive environment for acquiring smaller cybersecurity companies, leading to richer valuations.


04/08/202107:00UK Regulatory (RNS & others)Conduity Capital PLC Proposed reverse takeover of Smarttech247LSE:CCAPConduity Capital Plc
"AIM Rule 15 update
The Company is pleased to announce that Conduity and Smarttech247, incorporated in the Republic of Ireland as Zefone Limited, have entered into a non-binding heads of agreement to work towards the possible acquisition of Smarttech247 by the Company for a total consideration of GBP33.5 million, to be satisfied by the issue of new ordinary shares in Conduity. ("Proposed Acquisition"). Smarttech247 is an established global artificial intelligence ("AI") based cybersecurity business specialising in automated managed detection and response. ...
For the period ended 31 July 2020, Smarttech247 reported audited profits before taxation of EUR829,000, revenue of EUR4.8 million and had net assets of EUR712,084. ..."

[hedgehog 100] 14/9/2021 15:31

KAPE has just raised hundreds of millions, in under a day, for a cybersecurity acquisition, in a fundraising that was multiple times oversubscribed.
And the KAPE share price has risen by about 13% today, to about 400p.

This shows the strong investor appetite to invest in quality cybersecurity stocks.
And of how larger cybersecurity stocks are looking for quality acquisitions to help their growth.


14/09/2021 07:00 UK Regulatory (RNS & others) Kape Technologies PLC Result of Placing & Retail Offer & Notice of GM LSE:KAPE Kape Technologies Plc
"... Multiple times oversubscribed US$354 million placing and US$2.5 million retail offer
Further to its announcement on 13 September 2021, Kape Technologies plc (AIM: KAPE), the digital security and privacy software business, is pleased to announce that it has successfully raised gross proceeds of approximately US$354 million (GBP256.5 million) pursuant to the Placing and approximately US$2.5 million (c. GBP1.8 million) pursuant to the Retail Offer (together the "Fundraise"). Conditionally, in aggregate, a total of 76,543,209 new ordinary shares of US$ 0.0001 each ("Ordinary Shares") will therefore be issued pursuant to the Fundraise("Fundraising Shares") at an issue price of 337.5 pence per Fundraising Share ("Placing Price").
The Board of Kape is pleased with the very strong response to the Fundraise from new and existing institutional shareholders, including a number of blue-chip institutional investors from the UK, USA, Israel and Asia and through the PrimaryBid retail offer. The Fundraise was multiple times oversubscribed. The net proceeds of the Fundraise will be used to fund the upfront consideration for the acquisition of the ExpressVPN business...."

[hedgehog 100] 14/9/2021 12:33

It's interesting to compare OSI's latest 'outlook statement', from June of this year, with that from three years earlier.
The latest outlook is subtly but significantly more bullish, including the phrases "exciting opportunities" and "vast opportunity ahead of us".
The April 2018 outlook statement in comparison was confident, but more muted.

The June statement also specifically mentions ransomware and home working, two trends that seem to be driving strong new OSI growth.

Cybercrime has been described as the “number one problem with mankind” by Warren Buffett ... and who can argue with the 'Oracle of Omaha'?

And OSI looks to me to have the most direct gearing to the ransomware menace of UK-listed cybersecurity stocks (not that there are that many).


24/04/2018 07:00 UK Regulatory (RNS & others) Osirium Technologies PLC Final Results LSE:OSI Osirium Technologies Plc
" ... Summary and outlook
Osirium has a unique proposition and is building an increasingly strong pipeline of opportunities across a broad range of corporate sectors. Since the year end, the funds raised in March 2018 will provide us with the capital to invest further in our sales, marketing, R&D and engineering teams to ensure the Group's momentum continues. As the global cyber-security market continues to grow and with General Data Protection Regulation (GDPR) on the horizon, Osirium is well positioned and is sufficiently differentiated to take advantage of this opportunity.
The Group has built strong foundations for the year ahead and we are confident of delivering significant progress as a result.
Simon Lee David Guyatt
Chairman Chief Executive Officer ..."


11/06/2021 07:00 UK Regulatory (RNS & others) Osirium Technologies PLC Final Results LSE:OSI Osirium Technologies Plc
" ... Current trading and outlook
Moving through 2021, we are seeing continued momentum with a record Q1 and a healthy pipeline of opportunities through our direct and indirect sales channels. While we remain vigilant to the ongoing economic uncertainty and risks to our end markets, we are encouraged by the gradual normalisation of trading conditions.
Home working has laid bare many of the risks to cyber security among organisations, and many have made PAM a priority to ensure their company data, privileged accounts and regular business processes remain secure. The ease of implementation of the Group's platform and professionalism of customer engagement remains a key competitive advantages. Osirium provides the ideal solution for organisations wanting great quality security but without unnecessary complexity and protracted implementation.
Healthcare, a key target market for the Group, continues to provide exciting opportunities, with a number of deals signed with providers in the public and private sectors during the period. In December 2020, NHS England announced funding for trusts via NHS Digital for PAM projects to protect backups targeted in ransomware attacks. In the first quarter of 2021 the Group secured a substantial number of new NHS accounts and will continue to capitalise on new opportunities in this sector. More widely, we continue to see strong demand across the public and private sectors for our services, with organisations valuing our ease of implementation and levels of customer support alongside our first-class technology.
Post-period end, in April 2021, the Group also raised approximately GBP2.17m by way of a placing and subscription. These funds will facilitate the next phase of Osirium's growth primarily through scaling the Group's business in PAM and digital process automation, expanding the Group's partner channel network, and accelerating the Group's recruitment across sales, engineering and R&D. The Board would like to thank all shareholders for their continued support.
Looking ahead, we expect the pandemic to continue to provide uncertainty throughout 2021 with respect to both our direct and indirect sales channels. While the exact timing of deals will remain difficult to predict in the near-term, market conditions are gradually improving, there is momentum in the business, and we have a clear and proven strategy to capitalise on the vast opportunity ahead of us. With privileged access now widely recognised as a core requirement of IT security, the Group is confident in its future prospects and another year of progress in 2021. ..."

[1happydays] 14/9/2021 07:03

I also love it when paid up members down tick posts, it's a hobby.... I guess :)

[hedgehog 100] 13/9/2021 18:46

Osirium @Osirium·10h
"In case you missed the news last week, @Osirium published new independent research showing how UK businesses are leaving themselves vulnerable to #ransomware attacks. Get the report to learn where the biggest risks lie. #pam #cybersecurity [...] "

[hedgehog 100] 13/9/2021 18:18

"10 SEPTEMBER 2021
Are UK businesses doing enough to protect against ransomware?
Mark Warren

...How prepared are UK businesses for a ransomware attack?

New independent research shows UK businesses are vulnerable to ransomware attack. Although around 80% of companies have been attacked and over 90% say backups are critical to their recovery plans, a surprising number aren't taking all precautions to protect those backups.

Why are backups so critical?

Let's start by stepping back a little. If you consider how a ransomware attack works, you can see why this is so dangerous. Typically, the ransomware will be installed accidentally by a user that clicks on a bad link or installs an infected application on their laptop or workstation (take a look at Osirium's Privileged Endpoint Manager (PEM) to see how to reduce that risk). The ransomware then starts trying to escape the endpoint and work its way around the network.

At that point, the attack is looking for high-value targets. In particular Domain Controllers because that would allow the malware to easily install itself on other endpoints and servers. It will also be looking for Virtual Machine (VM) hypervisors as many critical applications and security devices (for example, firewalls) will be running in a VM. Once the attack becomes active, those VMs will be disabled either through encryption or deleting VM images.

At the same time the malware will be looking for backup management systems. It does this for two reasons: it could be looking to change backup policies to prevent backups being taken, and looking for locations and credentials for the actual backups. Once the malware has access to the backups, it will again either encrypt or delete the backups. The malware may stay dormant for weeks or months to ensure that complete backup cycles are repeated so that the infected data from end user devices or servers are copied into the backups.

Once the ransomware becomes active, it will encrypt and/or delete the backups before the victim has a chance to protect them. Once the backups are gone or damaged, the task of recovery is much harder, even impossible, which makes it more likely the victim will end up paying the ransom demand.

You can learn more about how ransomware attacks work in this blog post.

Why aren't businesses protecting themselves?

A worrying data point uncovered in the research is that a majority of businesses (53%) would prefer to pay a ransom than invest in protection against attack. That is very worrying. It's not clear from the data why this attitude is so prevalent. It's possible that IT and business leaders are underestimating the cost and impact of an attack, or that they feel willing to take the risk that they will be able to recover after paying a ransom. Either way, that's a very risky strategy.

Part of the evaluation of cost of protection vs ransom could be a mis-placed assumption that protection if complex and expensive. But that doesn't have to be the case.

How can backups be protected?

The simplest protection is to ensure the credentials used to access the backup management system and the backups are never revealed to users or their workstations. If the credentials can't be harvested by the malware, then it can't do its damage.

The research shows that although most businesses depend on backups for recovery, only 35% are currently taking active measures to protect access to their backup management systems and backups using privileged access management (PAM).

You can see how PAM can protect backups in this video. Although this demo uses Veeam, the same principles can be applied to any backup system.

Regarding the assumption that PAM will be expensive or complex, modern PAM solutions like that from Osirium are very different. As Saunderson House said, "We had Osirium PAM up and running in under a day" and Osirium are currently offering a special "Fast Protect" package to help new users get protection in a day.

If you like to know more about the findings of the research, you can download a complimentary copy here, and please get in touch if you'd like to learn more."

[1happydays] 13/9/2021 18:09

Love it when a share gets one or two posters with no apparent interest in the share who then start posting about the negative points about the company. Of course their are currently some corners to turn it's at 7 million market cap ffs.

[hedgehog 100] 13/9/2021 17:47

11/06/2021 07:00 UKREG Osirium Technologies PLC Final Results
" ... The Group spent GBP1.81m (2019: GBP1.77m) on direct staff and contractor costs for research and development, of which all was capitalised in both periods. This expenditure pertains to developing the Group's new and enhanced software offerings. The Group continues to invest in new product development, as well as the continual modification and improvement of its current product base to meet technological advances, customer and ever-expanding new market requirements of the rapidly evolving cybersecurity market. ..."



OSI's R&D investment is a major bull point here.

OSI market capitalisation at the current share price of 25p: £7.35 million.

Divided into OSI 2020 R&D spending of £1.81M.

= PRR (price-to-research ratio) of 4.06.

This highlights OSI's quite fantastic value and growth prospects.


From the legendary tech stocks guru Conor McCarthy:

"Calculate annual R & D expenditure per share and compare it to the share price.
If the PRR (price-research ratio - share price divided by R and D per share) is 5 or less it is nearly always worth buying the shares. This applies particularly to recovery situations. As long as an exploration company has the wherewithal to drill holes, there is always the possibility it will strike it lucky. The same goes for an out-of-favour technology company. As long as it can continue to invest in R and D there is the chance it will come up with a blockbuster product. The lower the PRR the more development bang you get for your buck."

[hedgehog 100] 13/9/2021 17:26

SWG (Shearwater) has been following a buy-&-build strategy, e.g. Brookcourt Solutions Limited for £30.3M. in 2018.
So most of its growth is not organic, unlike OSI's, and it's dishonest of you to present non-organic growth as a comparator to OSI's organic growth.

SWG's acquisitions cost has been massive dilution.

And as you would expect, its share price hasn't performed as it would have done if that growth had been organic.

Shearwater (SWG):

[megasonic] 13/9/2021 16:54

Wow, you really are rude and childish.

[megasonic] 13/9/2021 16:53

With regard to OSI's performance against peers, well the number speak for themselves. SWG Revenues / Profits:2018: 6.24m / -2.88m // 2019: 23.4m / -5.86m // 2020: 33m / -1.5m // 2021: 31.8m / 0.145m // -IGP revenues / profits:2018: 9.2m / -3.83m // 2019: 10.1m / 0.449m // 2020: 10.4m / 1.01m // 2021: 11m / 1.53m //-OSI Revenues / Profits2018: 0.957m / -2.27m // 2019: 1.17m / -2.83m // 2020: 1.43m / -2.5m // Like I said previously, revenues are not growing fast enough to cover costs and that black hole will lead to share pool dilution.

[hedgehog 100] 13/9/2021 16:42

megasonic 13 Sep '21 - 10:53 - 283 of 293 0 4 0
"... the share price has been in free fall for three years. ..."


Megasonic,

The real issue here is that you were claiming, incorrectly, that OSI is in free fall now.
The fact that it was in free fall years ago is different.

Believe it of not, shares that were in free fall in the past can actually stop falling, reverse, and enter an uptrend, which is what OSI has done.

Now, if this simple concept is too difficult for you to grasp, how on Earth can you be expected to cope with more advanced investment analysis?

[middlesboroughfc] 13/9/2021 16:31

has this enough cash for chrostms

[megasonic] 13/9/2021 16:19

So are you suggesting now the share price has not fallen 80% plus over the past three years?FYI: share price was 28p in August 2020 so I was off by a fortnight, does not make it a lie.

[hedgehog 100] 13/9/2021 16:04

megasonic 13 Sep '21 - 15:38 - 290 of 290 0 1 0
" ... Sept 2020: 30p ..."


No Megasonic, the OSI share price last September wasn't 30p.

Here's the September 2020 OSI chart: the highest OSI closing share price was 23p, i.e. lower than the current 25p -




Figures may not lie, but you do - repeatedly.

[megasonic] 13/9/2021 15:38

With regard the 3 year chart, I would encourage you to have another look at it.Share Price in September since 2018:Sept 2018: 140p // Sept 2019: 60p // Sept 2020: 30p // Sept 2021: 25p // That is an 80% plus fall in share price in Sept 2018. Figures do not lie. Chart does not lie. Like Tom Petty said, Free Falling (and not the pleasant kind). I suppose you have "alternative facts" to put forward?

[hedgehog 100] 13/9/2021 14:48

Well you can read, can't you?

There's two lies of yours exposed very clearly in my posts 284 and 285 above:
1. The OSI share price HASN'T been in free fall for three years.
2. OSI's revenues HAVEN'T only seen modest increases relative to companies like IGP etc.


As regards OSI's spending, you've got to remember, over two fifths of OSI's admin. expenses are research & development spending: £1.81M. last year (up from £1.77M.), accounting for 42% of the admin. expenses of £4.3M. (down from £4.57M.)

This impressive level of R&D spending is building up the company's valuable intellectual property, including multiple patents, so to criticise the company for not reducing it is crass.

It's like criticising a biotech company for making losses, and I certainly wouldn't want OSI to reduce their R&D.

[megasonic] 13/9/2021 14:30

So in answer to my question of whether you can be an adult, it seems your answer is no you cannot be an adult.Perhaps you can answer another question while you are at it. What is this lie you are saying I told?

[corrientes] 11/9/2021 19:19

Hedgehog - I don't deny buying a tiddly amount of this stock last month which I still have, but the proof of the pudding is in the eating, and I'm still waiting to be proved wrong, which indeed would be great. Investing in this sector is just a dip into the unknown for me. So far, The Market isn't convinced about this company ; therefore until proven otherwise, I maintain my view.

[hedgehog 100] 11/9/2021 15:05

"Andy Harris
Chief Technology Officer
In a long and distinguished career, including being Technical Director at Integralis, Andy has invented many leading-edge technologies including IP Network Translation Gateway, Print Symbiont Technologies for LANbased printers and Disaster Master, a technique of continuously updating a backup site with mirrored data. As one of the Co-Founders and CTO of MIMEsweeper, Andy was the creator of the world’s first content security solution which became the default product in its space. Andy went on to start WebBrick Systems which was one of the pioneering Home Automation technologies, also a forerunner to what we know as IOT devices today. As Engineering Director, Andy has created and patented several core components in the Osirium product family."



Andy Harris, OSI's CTO, has previously had a leading role at Integralis, and MIMEsweeper (Content Technologies).

Integralis was sold for Euro 75 million, and Content Technologies for nearly US$1Bn.

And interestingly, the acquirer of Integralis, NTT, is one of OSI's partners:



"Integralis has been sold to NTT
Today, NTT Communications Corporation (NTT Com), the wholly owned subsidiary of Nippon Telegraph and Telecom, a global telecommunications and IT services company, and Integralis AG (“Integralis”), a leading international provider of IT security services with sales of Euro 169 million in 2008, announced the signing of a Business Combination Agreement (“BCA”). As part of the agreement, NTT Com agreed to launch a voluntary public takeover offer for all outstanding shares of Integralis, offering Euro 6.75 in cash per share. The offer price represents a 70% premium over the three-month average closing share price of Integralis on the Frankfurt Stock Exchange (XETRA) prior to the date of this announcement.
The offer would value Integralis at an equity value of Euro 75 million based on the number of shares outstanding. ..."


"Baltimore acquires Content Technologies for nearly $1 billion
By Ann Harrison
Computerworld | 19 SEPTEMBER 2000 8:00 GMT
In a deal worth almost $1 billion, Dublin-based Baltimore Technologies PLC announced that it was acquiring U.K.-based Content Technologies Holdings Ltd.
More than 6,000 customers and 6 million users around the world use Content Technologies' MIMEsweeper policy engine to inspect Web content and screen data such as order forms, signed and encrypted contracts, junk e-mail, e-mail viruses and employees' online activities.
Content Technologies was acquired in a $992 million transaction that both companies say will strengthen their positions in the security market. David Guyatt, CEO at Content Technologies, said in a statement last week that joining forces with Baltimore will allow his company to accelerate the rollout and development of its security products. ..."