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(Sharecast News) - Shearwater Group said on Tuesday that one of its operating companies had secured a long-term contract renewal and expansion worth around 9m with a global financial organisation, supporting delivery of the group's expectations for the year ahead.
The AIM-traded cybersecurity, advisory and managed security services group said its Brookcourt Solutions subsidiary had agreed a three-year renewal alongside a significant capacity expansion, with 2.7m of revenue expected to be recognised in 2026.
It said the contract covered the renewal of the customer's advanced email gateway and insider threat management services, together with an expansion of secure email gateway capacity across the organisation's global estate.
Under the agreement, Brookcourt would deliver, implement and support a complex email security solution, using partner technologies to enhance the customer's cyber defence capabilities and overall security posture.
The group said the renewal reflected Brookcourt's experience in large-scale enterprise deployments and its ability to support global financial institutions with mission-critical security infrastructure.
"This significant contract win demonstrates the strength of Brookcourt Solutions' cyber security capabilities and its trusted relationship with global financial institutions," said chief executive Phil Higgins.
"Securing a long-term renewal alongside a major capacity expansion highlights both the critical nature of the services provided and the confidence customers place in our teams."
He added that the contract further underpinned the group's strategy of building recurring, high-value revenues from market-leading cyber defence solutions.
Shearwater Group said it remained focused on converting its pipeline of opportunities and continuing to deliver growth.
At 1337 GMT, shares in Shearwater Group were up 6.6% at 50.1p.
Reporting by Josh White for Sharecast.com.
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