8th May 2015 06:57
LONDON (Alliance News) - Security and risk management consultancy Falanx Group Ltd Friday said it has raised GBP2.64 million via a placing and subscription and has extended its strategic partnership with cybersecurity company Assuria.
Falanx said it has issued 18.9 million shares at 14 pence per share to raise the funds. Its shares closed at 20.00 pence on Thursday.
The company will use GBP500,000 to extend its global licence deal with Assuria to April 2018 and to back the roll-out of the alliance between the two. The other GBP2.14 million will be used to back the development of its own products.
"We are delighted to announce the successful GBP2.64 million placing, which is an important milestone in the progress of our international cyber defence offering. The extension to Falanx's partnership with Assuria will strengthen our combined offering and exceptional service to clients," said John Blamire, Falanx's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
FLX.L