Now the security services ECSC Group plc, Bradford-based provider of cyber security services to major blue-chip companies, announces its Intention to Float on AIM on 14th December. As a result of the recent proliferation of high-profile cyber security breaches affecting some of the world’s most largest companies, cyber security becomes a strategic issue for company boards. That automatically accelerates its growth.
Board of Directors on Admission includes Nigel Payne, previously CEO of Sportingbet Plc, as Non-Executive Chairman; David Mathewson, former Chief Financial Officer of Playtech Group plc, as Non-Executive Director; and Steve Vaughan, previously Group Chief Executive Officer of publicly listed companies Phoenix IT plc, Communisis plc and Sunstar plc as well as being chairman of Charteris plc, also as a Non-Executive Director
The Company is proposing to raise approximately £5 million: through a placing of 2,994,011 new shares at a price of 167 pence per share giving the Company a £15m anticipated market capitalisation ECSC will use the proceeds of its IPO to dramatically scale up and accelerate its growth strategy. That includes quadrupling the current headcount of some 50 to circa 200 by the end of 2018. It also to open an Australian Security Operations Centre (ASOC) to facilitate 24/7/365 global manned operations.
Back in January 2010 the then Defence Signals Directorate established the Cyber Security Operations Centre to develop a comprehensive understanding of ICT security threats to critical Australian systems, and coordinate a response to those threats across government and industry. The CSOC has since evolved into the ACSC (Australian Cyber Security Centre), opened back in November 2014, and is the next evolution of Australia's cyber security capability.
Below: Courtesy ABC Julia Gillard speaks at the Defence Signals Directorate