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ECSC scores two 'major' managed service contracts
12th Mar 2020 09:28
(Sharecast News) - Cybersecurity services provider ECSC has secured two major managed service contract wins, with a combined revenue value in excess of ?590,000.
ECSC said the contracts, one with a national charity and the other with a high street retailer, represented more than 20% of its current managed services order book.
The AIM-listed group noted that revenues would be recognised throughout the duration of the contracts, each of which was for three years.
Both contracts will see ECSC provide 24/7/365 cybersecurity monitoring and breach detection, utilising its proprietary Kepler Artificial Intelligence.
Chief executive Ian Mann said: "Following the introduction of the 2019 GDPR fines, a wide range of clients are increasingly recognising the need for cybersecurity managed services.
"Our strategy of winning consultancy clients, and clients from within the partner programme, then developing them into long-term recurring managed service clients continues to be effective."
As of 1055 GMT, ECSC shares were down 3.59% at 94p.
ECSC said the contracts, one with a national charity and the other with a high street retailer, represented more than 20% of its current managed services order book.
The AIM-listed group noted that revenues would be recognised throughout the duration of the contracts, each of which was for three years.
Both contracts will see ECSC provide 24/7/365 cybersecurity monitoring and breach detection, utilising its proprietary Kepler Artificial Intelligence.
Chief executive Ian Mann said: "Following the introduction of the 2019 GDPR fines, a wide range of clients are increasingly recognising the need for cybersecurity managed services.
"Our strategy of winning consultancy clients, and clients from within the partner programme, then developing them into long-term recurring managed service clients continues to be effective."
As of 1055 GMT, ECSC shares were down 3.59% at 94p.