Acuity RM optimistic as subsidiary secures two new contracts

Acuity RM Group PLC on Tuesday expressed optimism around future opportunities, ‘given the state of cyber risk worldwide’, as it reported a contract with a new client, and an upsell to an existing one.

The London-based risk management company said its wholly owned subsidiary, Acuity Risk Management Ltd, has penned a deal with an unnamed, ‘leading’ global defence contractor for software and services for a pilot programme.

Acuity Risk Management is focused on the cybersecurity sector of the governance, risk, and compliance market.

The contract is valued at £71,000, said Acuity RM, and should the pilot be successful, Acuity RM said it ‘could lead to major contracts with several nations.’

It added that the pilot programme serves as a forerunner to a ‘major’ multinational defence scheme set to commence next year.

Acuity Risk Management also secured an upsell to an existing client in the healthcare sector, valued at £55,000. The company noted that this client has increased its spend with Acuity every year since its initial order.

Shares in Acuity RM were 0.1% lower at 0.90 pence on Tuesday afternoon in London.

‘With this win, we continue to demonstrate our strength in large defence companies selecting STREAM for multinational projects in the sector,’ said Chief Executive David Rajakovich.

‘Cyber security risk management remains at the forefront of the world’s consciousness, and word of STREAM’s effectiveness has begun to spread. Given the state of cyber risk worldwide, we’re confident that this will lead to further opportunities beyond defence and healthcare that recognise the need for defence-grade cyber protection,’ continued Rajakovich.

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