24th Jun 2021 12:45
Pires Investments PLC - London-based investor - Welcomes Smarttech247's multi-year contract win to provide cybersecurity to a global manufacturing company. Notes indirect interest in Smarttech247 through its 20% stake in Sure Valley Ventures, a venture capital fund with an interest in software and artificial intelligence.
Sure Valley recently co-led an investment round into cyber security management company Smarttech247 with London-based investment company RiverFort Global Opportunities PLC. RiverFort says Smarttech247 protects businesses as they migrate to cloud-based systems. Notes the cybersecurity company has 50 clients in Europe and the US, plus over 100 technology partners, including US-based cybersecurity firms Tanium and Crowdstrike Holdings Inc.
Pires chair Peter Redmond says: "Smarttech247 is well positioned to capitalise upon the rapid growth across the security sector as businesses continue to be targeted by cyber attacks. With the business looking to IPO in the short term, we believe that this is the opportune moment for SVV to invest in Smarttech247."
Current Pires stock price: 8.68 pence, up 3.9% on Thursday afternoon
Year-to-date change: up 39%
By Scarlett Butler; [email protected]
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