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London based Smarttech247, a provider of managed detection and response (MDR) cybersecurity services has had a good start to 2025, with a number of contracts wins, the most significant a new framework deal with an unspecified major London airport.
The announced multi-year cybersecurity framework agreement with a major international airport in London has a total potential value of up to £7m across all four suppliers (not disclosed) over a five-year term. While the Agreement does not guarantee minimum spend, it establishes Smarttech247 as a trusted provider to one of the UK's most high-profile transport hubs.
Each order under the Agreement will be subject to a separate call-off contract and provides a flexible mechanism for the customer to procure cybersecurity services from Smarttech247 as needed, including the Company's flagship VisionX platform as well as Cybersecurity Support Services (e.g. 24/7 MDR/XDR), firewall maintenance, dark web monitoring and cybersecurity assessments); Cybersecurity Products (advanced email protection, EDR); and Security Information and Event Management (SIEM).
This latest win reflects the firm’s continued execution against its strategy to grow through high-value, long-term engagements with critical national infrastructure clients. It follows a deal in March for the implementation of Endpoint Detection and Response (EDR) with a major hospital in Ireland, valued at circa €500,000 over four years, as well as a 3 year, USD 925k deal in February with an existing automotive client.
We haven’t had an update on overall performance for FY25 so far, but growth continues to largely be spearheaded by the group's Managed Detection and Response ("MDR") VisionX platform, with the business posting revenue growth of 8.2% to €13.2m last year (to 31 July 2024). Smarttech247 has been investing in further developing its technology platforms, including a new and improved version of VisionX and launching Aio, an AI Assistant for the platform.
