27th Oct 2020 10:07
(Alliance News) - Shares rose in Bradford-based ECSC Group PLC on Tuesday as it won two significant contracts in the Managed Response & Response division.
Shares in the cyber security services provider were 15% higher at 74.85 pence on Tuesday in London.
The first contract is with a major UK rail company, and the other with a national builder's merchant. ECSC did not disclose the names of either customer.
Under the terms of the two deals, ECSC will provide 24/7/365 cyber security monitoring, detection and response support, using its Kepler Artificial Intelligence product.
The contracts have an initial period of three years, with a combined revenue value of GBP580,000 and reflecting 20% of the MDR division's order book.
"We are delighted to announce two further major contract wins for our MDR division across two diverse sectors. For the rail company, we will be deploying our MDR services to complement its existing long-standing managed services, whilst the national builder's merchant, although an existing Assurance client for the past 10 months, is a new win for this division," said Chief Executive Officer Ian Mann.
"These new contracts demonstrate the resilience of the long-established MDR service that has continued to grow throughout 2020 in line with our strategy to expand MDR recurring revenue as a proportion of overall revenue," Mann added.
By Dayo Laniyan; [email protected]
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