26 April 2018
SHEARWATER GROUP PLC
("Shearwater", the "Company" or the "Group")
Acquisition of Crystal IT Services Limited
Continued expansion of Xcina
Shearwater Group plc (AIM: SWG), the digital resilience group, is pleased to announce that it has acquired the business and assets of Crystal IT Services Limited ("Crystal IT" or the "Business"), a Cardiff based provider of cyber security and business information technology solutions (the "Acquisition").
Founded in 2004 by its current Managing Director, Chris Benson, Crystal IT has a portfolio of customers including a number of small and medium enterprises and not-for-profit organisations, to whom it provides information, network and application security solutions, cyber essentials advice, and outsourced IT services and training for companies seeking compliance with the upcoming GDPR legislation.
As part of the Acquisition, the Business has been rebranded Xcina IS and will form a component of the Group's information security and assurance company, Xcina, augmenting its services capability. Chris will lead the rebranded Business and Shearwater will look to invest in Xcina IS to support its organic growth and meet the increasing demand for resilient information services from Xcina's expanding customer base.
For more information, please visit https://www.xcina.co.uk/is.
Michael (Mo) Stevens, Group Chief Executive Officer of Shearwater, commented: "I'm delighted to welcome Chris and the team to the Group. Since the launch of Xcina in July last year, the business has made fantastic progress in broadening and deepening its suite of capabilities. I look forward to seeing Crystal IT add to Xcina's service offering as we continue to develop Xcina into a leading information security and assurance company."
Enquiries:
Shearwater Group plc David Williams Michael (Mo) Stevens |
www.theshearwatergroup.co.uk +44 (0) 797 014 8016 +44 (0) 780 171 2582 |
Cenkos Securities plc - NOMAD and Broker Bobbie Hilliam - NOMAD Julian Morse / Michael Johnson - Sales |
+44 (0) 20 7397 8900 |
WH Ireland Limited - Financial Advisor Mike Coe Ed Allsopp |
www.whirelandcb.com +44 (0) 117 945 3470 |
Powerscourt - Financial PR Ben Griffiths, Andy Jones |
[email protected] +44 (0) 20 7250 1446 +44 (0) 77 5346 4637 |
