Drumz Plc - Statement re Acuity's appointment of new partner

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

23 March 2023

Drumz plc 

('Drumz' or the 'Company')

Update on investee company

The Directors of Drumz plc are delighted that its investee company, Acuity Risk Management Ltd (“Acuity”), has secured a new partnership with United States-based Tutela Solutions (“Tutela”).  Tutela will refer organisations looking for a governance, risk and compliance (GRC) solution to Acuity’s award-winning platform STREAM® Integrated Risk Manager (“IRM”) in North America.  This is a further step for Acuity towards building its presence in North America, the world’s biggest market for GRC solutions.

Tutela, based in Florida, is a leading developer and implementer of best-in-class GRC solutions.  It specialises in innovative risk management solutions leveraging multiple GRC platforms.  Tutela has delivered 500+ projects for more than 135 clients.  

Kerry Chambers, Chief Commercial Officer for Acuity, said: “Tutela has many years’ experience of developing and deploying GRC solutions so we are proud and delighted to partner with them and look forward to helping US organisations better manage their risks. The combined expertise of Acuity and our new partner, Tutela, provides a great opportunity for us in the US where there is mounting regulatory pressure.   An Integrated Risk Management strategy can provide the necessary clarity to risk that US organisations require.”   www.acuityrm.com

Sonny Crouse, Director of Business Development for Tutela Solutions, said: “We are delighted to partner with Acuity because its STREAM® solution can be configured to solve all major GRC challenges while providing the scalability needed to address regulatory requirements and meet industry and global standards of best practice across all industries.”  www.tutela-solutions.com

Angus Forrest, chief executive of Drumz, explained: “Acuity is growing strongly and is implementing a partnership strategy to build a bigger presence in the North American market for GRC solutions.  This builds on the customer win announced in February and is a significant step to accelerate growth of revenues and customer numbers in the world’s largest market for risk management software.”