Falanx Plc (LON:FLX), the global intelligence, security and cyber defence provider, announced this morning a multi-year contract win and the appointment of a new Chief Financial Officer (CFO).
Contract Win
Falanx have told DirectorsTalk about winning a new 3-year managed Cyber Security service contract with a premier UK Health Sector organisation, which has been a valued client of Falanx for over two years. This will generate in excess of GBP250,000 of revenues for Falanx during the course of the contract, further improving visibility of forward earnings.
This valued client of over two years, now enjoys the benefit of all the Falanx product offerings of Assess, Consult, Monitor and Response. This new contract provides an expansion of our Protective Monitoring service to provide more comprehensive coverage of the IT estate.
In addition, the Falanx Cyber ‘Incident Response’ service will provide 24/7 coverage to contain and protect infrastructure in the event of a breach or data leakage. This extension of cover allows the Falanx team to immediately isolate the part of the network that has been detected as compromised from within the Falanx SOC (Security Operations Centre), whilst remediation takes place.
Appointment of Ian Selby as Chief Financial Officer
Ian has been appointed to the Board with effect from 15(th) January 2018 and is a Chartered Accountant with significant experience in the technology, security and business services sectors. He was previously the CFO of AIM listed Westminster Group plc where he supported the development of their successful managed services business and the raising of the associated financing. Before this he was Group Finance Director of Zenith Hygiene Group plc, where he was instrumental in executing a successful trade sale and prior to this was the CFO of a listed software company focused on financial and public sectors.
Ian has extensive experience including due diligence, M&A, fundraising, working capital improvements, bank and mezzanine debt, and operational finance management. Earlier in his career he held international finance roles in listed technology companies including Halliburton Inc, Sybase Inc and Micro Focus plc. He qualified as a Chartered Accountant with Coopers & Lybrand Deloitte and holds a degree in Physics from the University of Birmingham