Reach Announcement

11 February 2025

Smarttech247 Group PLC

("Smarttech247", the "Group" or the "Company")

Smarttech247 Secures Three-Year Contract Worth USD 925,000

Smarttech247 (AIM: S247), a multi-award-winning provider of AI-enhanced cybersecurity services providing automated managed detection and response for a portfolio of international clients, is pleased to announce it has signed a new additional contract with an existing automotive client worth USD 925,000 over three years.

This new additional contract will see an Endpoint Detection & Response (EDR) solution integrated into the existing Managed Detection and Response (MDR) service already supplied to Smarttech247's automotive client. This new EDR solution is designed to detect, investigate and respond to threats on endpoint devices such as computers, laptops, and servers, enhancing the client's existing cybersecurity resilience.

This new contract also reflects the execution of the Company's strategy to expand its annual recurring revenue by focusing on long-term, multi-year contracts and increasing the total contract value of existing agreements.

Raluca Saceanu, CEO of Smarttech247, commented:

"We are thrilled to be expanding our provision of services with another existing client, reinforcing our strong, ongoing relationship and highlighting the continued trust our clients have in our MDR expertise to protect their critical infrastructure.

"As organisations worldwide increasingly prioritise advanced threat detection and response, this latest contract showcases our ability to deliver security solutions at scale as our momentum continues to build."

-Ends -

*Smarttech247 is a recognised vendor in 2024 Gartner® Market Guide for Managed Detection and Response. 

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About Smarttech247

Smarttech247 is a multi-award winning automated MDR (Managed Detection & Response) company. Its platform is trusted by international organisations and provides threat intelligence with managed detection and response to provide actionable insights, 24/7 threat detection, investigation and response.

The Group's services are geared towards proactive prevention, and it achieves this by utilising the latest technologies, along with an experienced incident response team.

Smarttech247's offices are located in Ireland, United Kingdom, Romania, Poland and the USA. The Company was admitted to trading on the London Stock Exchange on 15 December 2022.

For further information please visit www.smarttech247.com

*Gartner disclaimers

Market Guide for Managed Detection and Response, 24 June 2024, Pete Shoard, Andrew Davies, Mitchell Schneider, Angel Berrios, Craig Lawson.

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