ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

SYS Sysgroup Plc

19.00
0.00 (0.00%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Sysgroup Plc LSE:SYS London Ordinary Share GB00BYT18182 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 19.00 18.00 20.00 19.00 19.00 19.00 0.00 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Computer Related Svcs, Nec 22.71M -5.9M -0.0711 -2.67 15.76M

SysGroup PLC Acquisition & Notice of Results

19/11/2024 7:00am

RNS Regulatory News


RNS Number : 6902M
SysGroup PLC
19 November 2024
 

19 November 2024

 

SysGroup plc

("SysGroup", the "Group", or the "Company")

Acquisition & Notice of Results

SysGroup plc (AIM:SYS), the technology partner for delivery and management of cloud, data, and security services to power Artificial Intelligence ("AI") and Machine Learning ("ML") transformation, today announces its acquisition of the trade and assets of Crossword Consulting Limited ("CCL"), the consulting arm of Crossword Cybersecurity plc.

Acquisition

The Group is pleased to announce the acquisition of the trade and assets of CCL for cash consideration of £311,000, with a potential post conditional payment of £127,000. Based in London, CCL is a recognised leader in cybersecurity consulting, offering specialised services such as virtual CISO ("vCISO") support and Penetration Testing to medium and large enterprises.

This acquisition strengthens our capabilities with the addition of 12 seasoned cybersecurity consultants, who will expand SysGroup's customer offerings in cybersecurity and compliance. For the 12 months ending 30 September 2024, CCL delivered unaudited revenues of circa £2.4 million with more than 75% of revenues recurring. Additionally, CCL brings a diverse client base of customers, including FTSE 100, FTSE 250, and S&P-listed companies, which presents new cross-sell opportunities across multiple sectors.

 

Notice of results

 

SysGroup expects to publish its half year results for the six-month period ended 30 September 2024 on 3 December 2024.

 

Heejae Chae, Executive Chairman commented:

 

"This acquisition strengthens our strategy to become the partner of choice in our customers' AI journey and digital transformation by enhancing our cybersecurity capabilities and expanding into Compliance as a Service ("CaaS"). Crossword Consulting's expertise ensures that we can secure critical infrastructure, data, and processes - essential components for the successful adoption and scaling of AI. Their services, including Cyber Maturity Assessments and vCISO solutions, provide the compliance and risk mitigation needed to build trust in data-driven systems. By integrating these capabilities, we position ourselves to deliver comprehensive, secure, and innovative solutions that empower our customers to confidently embrace AI and drive their transformation agendas.

 

We are confident in our strategy and the progress achieved over the past months following our equity raise in June 2024. Our strong balance sheet positions us to effectively pursue strategic acquisitions such as CCL.  Based on our current recurring revenue, the Board has good visibility that revenue levels will remain consistent with the prior year. Additionally, we are actively engaged in discussions regarding a number of high-potential contracts with both new and existing customers, which could unlock significant growth opportunities and drive revenue beyond our recurring base."


For further information, please contact:

 

 


SysGroup plc

Tel: 0333 101 9000

Heejae Chae, Executive Chairman


Owen Phillips, Chief Financial Officer


 


Zeus (Nominated Adviser and Broker)

Tel: 0161 831 1512

Jordan Warburton


Nick Cowles


Alex Campbell-Harris


Nick Searle


 

About SysGroup

SysGroup plc is a managed service provider of end-to-end data solutions enabling us to take our customers on their AI data journey. The Group offers an integrated set of modern technologies that collectively meets our customers end-to-end data needs including connectivity, cloud hosting, delivery, analytics and governance of customer data, as well as a security layer for users and applications.

The Group has offices in Manchester, Edinburgh, London, and Newport.

For more information, visit http://www.sysgroup.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ACQFLFVDLALTLIS

1 Year Sysgroup Chart

1 Year Sysgroup Chart

1 Month Sysgroup Chart

1 Month Sysgroup Chart

Your Recent History

Delayed Upgrade Clock