19th Nov 2024 15:49
SysGroup PLC - Liverpool, England-based IT services, cybersecurity and cloud hosting provider - Acquires Crossword Consulting Ltd, the consulting arm of Crossword Cybersecurity PLC, for GBP311,000, as well as a potential post-conditional payment of GBP127,000. Crossword Consulting delivered revenue of around GBP2.4 million for its financial year that ended September 30, with more than 75% of its revenue recurring. Its client base, including FTSE 100 and FTSE 250-listed companies, provides new cross-sell opportunities for SysGroup across multiple sectors.
Executive Chair Heejae Chae says: "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."
SysGroup is due to release its interim results on December 3.
Current stock price: 28.80 pence, up 1.1% in London on Tuesday afternoon
12-month change: down 27%
By Emily Parsons, Alliance News reporter
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