Crossword Cybersecurity Plc (CCS.L), a cyber security and risk management company on Tuesday announced that it has signed heads of terms to acquire a cyber threat company for a total consideration of 1.5 million pounds, in cash and stock; part upfront and part deferred.
The acquisition agreement is expected to be signed in early 2022. The acquisition would bring Crossword's portfolio to five cyber security offerings besides its cyber security consulting business. The acquisition is also expected to bring additional SaaS products which claims to provide clients with high value cyber security insight at an affordable cost. It would also bring circa twenty new clients to Crossword, across various sectors in multiple jurisdictions.
Crossword also said on the back of a successful 2021, with revenue growth achieved expected to be over 40 percent, at the lower end of market expectations, it sees accelerated revenue growth in 2022.
Shares of Crossword Cybersecurity closed Monday's trading at 33 pounds.
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