LONDON, UK: Crossword Cybersecurity Plc (AIM: CCS) introduced acquisition of the entire of the share capital of Threat Status Limited, the threat intelligence firm and supplier of Trillion, the cloud based software program as a service (SaaS) platform for enterprise-level credential breach intelligence has now completed.
Additionally, Threat Status’s extra recently launched product, Arc, protects the customers of customer-facing applications from the specter of Account Takeovers. The acquisition of Threat Status takes the Company’s portfolio to 5 cyber safety offerings, alongside its cyber safety consulting and managed services offerings. The transaction was first talked about on 21 December 2021 in an RNS announcement.
Threat Status’s platform enables companies and managed service suppliers to monitor data that has been stolen and shared on the darkish web and criminal boards which could hurt the safety of their enterprise or that of their customers.
Threat Status has developed its subscription-based, enterprise-class services to be turnkey, extremely scalable, very safe and able to go. The platform is fast for onboarding new clients, with no complex integrations needed, permitting rapid supply of buyer value.
Crossword Cybersecurity has agreed to pay a complete consideration of £1.529m for Threat Status.
Threat Status was based in 2017 by Jon Inns, who’s the CEO of the business. He was joined by Ian Nice, CTO, and was supported by a third-party fund. Jon, Ian and their team of builders and apprentices will join Crossword to drive the continued commercialisation and development of Threat Status products.
For the 12 months ended 31 March 2021, Threat Status made a lack of £54,864 and had net assets of £75,586 at that date. Threat Status is reaching breakeven, with 90% recurring revenue. Cross promote alternatives are being explored with the acquisition, alongside working synergies.
Tom Ilube, CEO of Crossword Cybersecurity plc, commented: “Crossword is happy to include Trillion and Arc into its product suite, finishing our aim of getting 5 merchandise within the market by the finish of 2022 and including over twenty new recurring income clients. We welcome Jon, Ian and their team to Crossword and are enthusiastic about the alternatives Threat Status brings to Crossword and our clients, as we proceed in our mission to reduce the cyber dangers for our clients by offering a portfolio of innovative merchandise and services. This is our third acquisition in lower than a year and shows the extent of our ambition to present a portfolio of subscription-based, enterprise-class merchandise and services.”
Jon Inns, CEO of Threat Status Limited, commented: “Threat Status has developed one of many strongest and most superior credential leak monitoring services within the market and we’re looking ahead to leveraging the alternatives and synergies this acquisition by Crossword represents. With Crossword’s skilled gross sales team and rising client base, and our confirmed and trusted technology, we expect market penetration to accelerate, increasing income and client protection.”
www.crosswordcybersecurity.com