Smarttech247 Group PLC - Investee Company Update

Pires Investments plc (AIM: PIRI), the company focused on next generation technology, notes the announcement by its portfolio company, Smarttech247 Group PLC ("Smarttech247"), that it has entered into a strategic partnership with cybersecurity giant, Splunk Inc (NASDAQ: SPLK).

Splunk Inc., a cybersecurity and observability leader, helps make organisations more digitally resilient. Businesses use Splunk's unified security and observability platform to keep digital systems secure and reliable. Cisco Systems, Inc recently announced the intended acquisition of Splunk for around $28 billion to form one of the world's largest software companies.

The partnership with Splunk brings together Smarttech247's automation-driven and human-led VisionX managed detection and response (MDR) capabilities and Splunk's powerful SIEM technology solutions, creating a dynamic synergy that addresses the evolving needs of the changing threat landscape and delivers comprehensive solutions to drive security efficiencies.

This development follows on from the previous week's announcement by Smarttech247 of a new contract with an existing Government of Ireland Department client worth around €400,000 over 2 years and a contract extension for another 3 years with another existing client, Auto Nation, the largest car retailer in the United States.

Nicholas Lee, Director at Pires Investment Plc, commented:

"The partnership between Smarttech247 and Splunk Inc. clearly demonstrates Smarttech247's progressive approach to cybersecurity and is further evidence of the progress that the company is making in the cybersecurity sector."