7 September
2020
This announcement contains inside
information for the purposes of Article 7 of EU Regulation
596/2014.
Drumz plc
('Drumz' or the
'Company')
Investment
Further to the change of investing policy approved by
shareholders on 30 June 2020, the
directors of Drumz (DRUM.L) are pleased to announce that the
Company has made its first technology investment in Acuity Risk
Management Ltd, (‘Acuity’), which operates an award winning
software business specialising in risk management.
Acuity’s business is the supply of its proprietary software,
STREAM™, and services for cyber security and risk management, used
by organisations globally for customers ISO 27001, GDPR, NIST Cyber
Security Framework and other programs.
Drumz has invested £500,000 in cash for an initial 20 per cent.
shareholding, in Acuity with an option to acquire an additional 5
per cent. for a further £125,000. As a condition of the
transaction, Angus Forrest will
become a director of Acuity.
The Acuity business was founded in 2005 by a team who had
previously built a consultancy specialising in cyber security which
was later acquired by Siemens. They encapsulated their
knowledge in developing the STREAM™ software which was launched in
2007. This software enables a risk-based approach to
cyber security, reducing the risk of security breaches, optimising
cyber security activities and, in the event of a breach, mitigating
damage through a strategic risk-based approach.
Acuity’s customers include government organisations, large and
medium sized private enterprises in the UK, Europe, Africa and North America. Gartner
reports the global market for Integrated Risk Management (‘IRM’) in
2020 to be $7.3 billion with
projected growth to $9.3 billion by
2023. This is being driven by the development of new
digital products and services designed to propel a company’s future
growth. In turn this introduces new risks that require
IRM technology.
Acuity regularly wins awards including in Information Age and
TechWorld’s top cyber security companies in the UK supplying
cybersecurity services to organisations
globally. STREAM™ has been awarded a five star rating in
the SC Media GRC, Risk and Policy Management Review for five
consecutive years. In 2018, STREAM™ was Continuity,
Insurance and Risk magazine’s cyber security product of the
year.
The last published accounts for the Acuity business were issued
by Acuity RM LLP for the 12 months to 31
March 2019 show that the business generated a profit before
tax of £226,000 on revenues of £858,000. The net assets of Acuity
RM LLP as at 31 March 2019 were
£11,000. Acuity RM LLP transferred its business to
Acuity earlier in 2020.
More information on Acuity can be found via the following
link www.acuityrm.com
Angus Forrest, Chief Executive of
Drumz, commented:
“We are delighted to have made this first investment in
Acuity. Acuity is an established and well regarded
player in the fast growing cybersecurity global
market. With the additional expertise Drumz can bring to
its investment we are confident that Acuity’s growth over the past
year, will be accelerated over the next two to three years to
transform its value.”
For further
information please contact: |
|
Drumz Plc |
|
Angus Forrest |
+44 (0) 20 3582 0566 |
|
|
WH Ireland (NOMAD &
Broker) |
www.whirelandcb.com |
Mike Coe / Chris Savidge |
020 7220 1666 |
|
|
Peterhouse Capital Limited (Joint
broker) |
|
Lucy Williams / Duncan Vasey |
020 7469 0936 |
Note to Editors
Drumz plc
Drumz plc (AIM): DRUM) is an investing company focused on
investing in and acquiring established software businesses that own
good technology, have quality customers and which could better
exploit their assets and accelerate their growth with the injection
of experienced management and new funds.
Drumz will, where necessary, make available some of its
experienced management team and provide finance to facilitate the
necessary changes, so that the value of the businesses in which
Drumz invests will be transformed over a two to four year period.
In due course, the new Directors expect to dispose of such
businesses, in whole or in part, in order to realise value for
Drumz and its shareholders.