18th Apr 2018 13:33
LONDON (Alliance News) - Cyber security and intelligence provider Falanx Group Ltd said Wednesday it is "pleased" with the progress of recently acquired First Base Technologies.
The GBP3.2 million March acquisition has, as expected, brought a "significant" order book of work from existing clients supported by a "solid" sales pipeline from new and existing customers.
Red Team services - providing physical penetration, scenario planning, and counter-penetration education - is growing "strongly" and, according to Falanx, presenting a "significant" addition to the services across the wider company.
The company said all Falanx cyber assessment services are being consolidated into First Base with existing Falanx penetration testing staff joining the First Base team. It is hoped this is will "drive synergies including increased skill transfer and higher levels of utilisation".
Falanx's cyber security monitoring platform, MidGARD, continues to grow "strongly", driven by organizations "appetite for outsourcing their cyber security needs to a managed service".
Falanx claims there has been no breaches to client networks since it onboarded to its platform, and said "significant" progress has been made in the development of in-Cloud monitoring.
Mike Read, chairman & chief executive officer of Falanx, said: "It continues to be a highly active period at Falanx. We are building market traction with our MidGARD managed service as well as our other professional services as we actively progress the integration of First Base Technologies following its acquisition in March.
"The foundations of our full suite of managed Cyber services is now very strong, supported by customer adoption and I look forward to providing further updates of our progress".
Shares in Falanx were down 7.4% Wednesday to 4.35 pence each.
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