Contract expansion with major UK telco

Shearwater Group plc (AIM: SWG), the cybersecurity, advisory and managed security services group, is pleased to announce that its group company, Brookcourt Solutions Limited ("Brookcourt"), has secured a strategic three-year contract with a major UK telecommunications provider, with a total value of approximately £9.2 million.

The agreement represents a significant three-year expansion of Brookcourt's existing relationship with the UK telecoms provider and combines the extension of existing cybersecurity services, increased deployment across the customer's estate and the award of a new cloud security requirement following the displacement of an incumbent provider.

The agreement has a total value of approximately £9.2 million over three years, of which c.£ 3.0 million is expected to be recognised in FY27, supporting delivery of market expectations for the period with the remaining balance providing the Group with enhanced revenue visibility through to October 2029.

This contract demonstrates Brookcourt's ability to expand within major enterprise customers, moving beyond individual technology deployments to support a broader range of cybersecurity requirements, and further strengthens Brookcourt's position within the UK telecommunications sector. It also showcases the potential to win new areas of cybersecurity spend within established accounts, increasing the scale and value of long-term customer relationships.

Phil Higgins, Chief Executive Officer of Shearwater Group plc, commented:

"This is a strategically important award for Brookcourt and an excellent example of the model we are building across the Group. Our strategy is not simply to win individual technology contracts, but to establish trusted positions within major organisations and then expand those relationships by addressing a broader range of their cybersecurity requirements.

Importantly, it also strengthens our long-term revenue visibility and further embeds Brookcourt within one of the UK's major telecommunications providers. We believe there remains significant opportunity to replicate this approach across our wider customer base, particularly within telecommunications, financial services, government and other large enterprises where cybersecurity requirements continue to grow in scale and complexity."