CORETX Holdings PLC Investment in Cyber - Security Offering (8304O)
24 8월 2017 - 3:00PM
UK Regulatory
TIDMCOR
RNS Number : 8304O
CORETX Holdings PLC
24 August 2017
CORETX Holdings Plc
("CORETX" or "the Company")
Investment in Cyber - Security Offering
Launch of PACT to satisfy customer demand and drive organic
growth
CORETX Holdings plc (AIM: COR), the mid-market network, cloud
and IT managed services provider, today announces the launch of
Protection Against Cyber Threats ("PACT"), a new business unit
focused on cyber-security.
PACT has been created in response to increasing customer
awareness of cyber-security threats and demand for comprehensive
protection from a single provider. The Company is making an initial
investment of GBP750,000.
PACT combines CORETX's proven managed services expertise,
specialist security staff and new cloud-based security
solutions.
At the core of the new business unit is a fully staffed security
operations centre ("SOC"), providing 24/7 monitoring of security
information delivered through a cloud based security information
and events management ("SIEM") solution. PACT technical resources
will correlate, classify and prioritise all security information
generated by customer IT infrastructure and alert them on the
severity impact and threat score of security events taking place
across their estate.
PACT will also provide proactive, pre-emptive security planning
and action through an Advanced Threat Protection ("ATP") solution,
as well as manage endpoint security through next generation
technology.
Paul Toms and Clive Atkins, both senior professionals within the
industry, have been recruited as Security Services Sales Director
and Security Services Technical Director, respectively. Paul has a
track record of transactions within enterprise sectors, whist Clive
has over 30 years' experience and a background of building strong
vendor relationships and developing portfolios. Both have worked
together previously, having founded a successful security and IT
infrastructure business. The PACT business unit will be headed by
Merlin Gillespie, Group Strategy Director, who also has a track
record of building and managing cyber-security businesses.
Andy Ross, CEO of CORETX:
"We took the decision to invest up front to build a new
practice, rather than pay a premium to acquire an existing
cyber-security business, as this approach will quickly deliver best
of breed solutions to our customers and create more long term value
for our shareholders. The demand from existing CORETX customers is
strong and we have already had our first contract wins. We expect
the business unit to be profitable by the end of H1 2018, with at
least 30 PACT customers signed up and on board by the end of
2018."
"In Paul Toms and Clive Atkins we have recruited excellent
security industry expertise who, together with Merlin Gillespie,
will form the new business unit's senior management team. We are
already adding further external industry expertise to the team, as
well as training existing staff and dedicating them to PACT. We
expect the core team to be at least 10 strong by the end of
2017."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
CORETX Holdings Plc Tel: +44 (0)344
Andy Ross, CEO 874 1000
Julian Phipps, CFO
N+1 Singer Tel: +44 (0)207
Nominated Advisor 496 3000
and Broker
James Maxwell
Liz Yong
Alma PR Limited Tel: +44 7780
Josh Royston 901 979
Rebecca Sanders-Hewett Tel: +44 7961
Robyn Fisher 075 844
Tel: +44 7540
706 191
This information is provided by RNS
The company news service from the London Stock Exchange
END
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