Contract Renewal

Shearwater Group plc, the cybersecurity, advisory, and managed security services group, is pleased to announce that its Group company, Brookcourt Solutions, has secured an c.£8.4m contract extension, over two years, with a multinational telecommunications and media company.

This two-year extension, to the original three-year contract, ensures the continued delivery of advanced service assurance solutions, supporting critical business applications and processes across all technology domains.

The win further deepens Shearwater's relationship with the telco and reinforces Brookcourt Solutions' position as a trusted provider of forensic monitoring solutions, support, maintenance, training, and managed services.

This underlines Shearwater's ongoing commitment to providing industry-leading cybersecurity and monitoring solutions to major enterprise clients.

The revenue and cost of sales in respect of this contract will all be recognised in FY25, which is expected to support the Group in delivering results for the period in line with market expectations, which would represent significant annualised growth in both revenue and Adjusted EBITDA from FY24.

Phil Higgins, CEO of Shearwater, commented: "We are delighted to have secured this contract extension, further cementing our partnership with one of our key clients. This demonstrates the strength of the Group's capabilities and our ability to deliver long-term, mission-critical security and monitoring solutions. Winning this extension reinforces our position as a trusted provider and underlines the value we bring to our clients."