Falanx Group Ltd (LON:FLX), the global cyber security and intelligence provider, has today provided an Operational Update regarding the integration of the March 2018 acquisition of First Base Technologies and progress with its Cyber Security monitoring platform.
Acquisition of First Base Technologies LLP
The Board is pleased with the progress of the integration of First Base Technologies which was acquired in March 2018.
· As expected a significant orderbook of work from existing clients is in place, supported by a solid sales pipeline from new and existing customers.
· ‘Red Team’ services, providing physical penetration, scenario planning and counter-penetration education is growing strongly, presenting a significant addition to the portfolio of services across the wider group.
· All Falanx Cyber Assessment services are being consolidated into First Base with existing Falanx penetration testing staff joining the First Base team. This is expected to drive synergies including increased skill transfer and higher levels of utilisation.
· The Company is currently integrating its infrastructure with that of First Base.
· New client adoption and interest in the MidGARD service continues to grow strongly, driven by organizations appetite for outsourcing their cyber security needs to a managed service.
· No breaches to client networks since onboarded to our platform and client satisfaction levels are high.
· Significant progress has been made in the development of in-Cloud monitoring, which will enable a new addition to our service portfolio
Presenting at UK-Investor Show – 21st April 2018
Falanx Group will be participating (stand 67) in Britain’s largest one-day investor event, the Global Group UK Investor Show on Saturday 21 April 2018 at the Queen Elizabeth II Conference Centre in Westminster, London SW1P 3EE. Mike Read (CEO) will be presenting and taking questions at 2.40pm. Further details of the conference can be found at www.ukinvestorshow.com.
Mike Read, Chairman and Chief Executive Officer of Falanx Group Ltd, commented: “It continues to be a highly active period at Falanx. We are building market traction with our MidGARD managed service as well as our other professional services as we actively progress the integration of First Base Technologies following its acquisition in March. The foundations of our full suite of managed Cyber services is now very strong, supported by customer adoption and I look forward to providing further updates of our progress.”