CYBER1 Appoints Nick Viney As New Chief Executive Officer
London United Kingdom – 14 January 2019 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security services today announces the appointment of a new Chief Executive Officer.
The Board of Directors of CYBER1 has appointed Nick Viney as CEO who joins CYBER1, after a successful career at McAfee. Mr Viney will replace Robert Brown who steps down from the role on the 1st February 2019.
Nick has a proven track record in both organisational and sales leadership. As a cyber security advocate, he joins CYBER1 at a critical phase in its evolution, after a record year in 2018. Nick has been recognised by his industry peers as an exceptional business executive who has worked for several of the largest global technology companies. He is 44 and left McAfee in late 2018 where he worked for the last 7 years, most recently as Regional Vice President for the UK, Ireland and South Africa.
In addition, Nick has closed some of the largest corporate and consumer cyber security deals over the last decade and managed a customer portfolio of nearly 150m users. He is a frequent speaker at industry events, publisher on hot topics and a regular global traveller.
Previous positions include senior management roles at Microsoft, Google and Arthur Andersen. Nick holds an MA in Modern History and MSc in Management Science from the University of Oxford.
Kobus Paulsen, Chairman, on the announcement of Nick Viney:
"I am pleased to announce the appointment of Nick as the new CEO. He will bring a wide range of experience relevant to our business, combined with a dedication to manage change and transformation in the Cyber Security business environment, which comes at a pivotal turning point in our growth story"
With the appointment of Nick, we secure a strong and proven leader for CYBER1 and we will now accelerate our strategy to drive growth and shareholder value. To ensure this development, the Board and management continuously review operational and structural metrics on the back of our increased focus on synergies within the Group and its existing network of relationships”
"I also want to take the opportunity to express my and the Board’s gratitude to Robert who has served CYBER1 as its CEO since its listing on Nasdaq First North in September 2016. Under his stewardship CYBER1 has established itself as a market leader in the Cyber Security industry, with 11 successful acquisitions and record results in the last two quarters.”
Nick Viney on his appointment:
"I am looking forward to joining CYBER1 which has a strong international reputation and is looking to expand its cyber security business across Europe and the US. I see exciting potential for its future development and look forward to continuing the outstanding growth achieved last year. Together with the existing leadership team, I will be looking at the CYBER1 execution model, acquisition strategy and international expansion plans over the coming months."
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: CA@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 14.01.2019 at 12:00 CET.
ABOUT CYBER1
CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q4 2018. For further information, please visit www.cyber1.com/investors
For further information, please visit: https://cyber1.com
CYBER1 ANNOUNCES SETUP OF A GLOBAL ADVISORY BOARD WITH THE APPOINTMENT OF JOSEPH J. GRANO JR. AS CHAIRMAN
London, United Kingdom – 12 December 2018 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security and Governance, Risk and Compliance services, is today delighted to announce the appointment of Joseph J. Grano Jr. to set up and chair the CYBER1 Global Advisory Board (“GAB”) with immediate effect.
Mr Grano brings with him a wealth of experience in business and has more than 30 years’ experience in the securities and financial services industries. He is the former Chairman of UBS Financial Services Inc., the former President, CEO and Chairman of UBS PaineWebber and has also previously served in various senior management positions with Merrill Lynch.
During the period from March 2002 to August 2005, Mr Grano served as the Chairman of the Homeland Security Advisory Council following his appointment by President George W. Bush: in this role, he was ultimately responsible for providing the Secretary of Homeland Security with real-time, real-world, sensing and independent advice in order to better facilitate decision-making across the spectrum of homeland security operations.
The CYBER1 board of directors has mandated Mr Grano to initiate the GAB, which will help CYBER1 develop and implement its mission statement and strategy on a global basis. It is envisaged that the GAB will comprise representatives from the following four distinct geographical regions:
- Europe
- Middle East/Africa
- Latin America
- The United States
The primary mandate of the GAB will be to facilitate the successful penetration of the CYBER1 value proposition within each geographical region and concomitant to this, to prioritise cross selling opportunities within the various CYBER1 Group companies, with the resultant effect of positioning CYBER1 as a “best in class” global firm, and trusted provider of cyber security products and services to governments, municipalities, corporations and institutions.
Commenting on his appointment to the advisory board, Mr Grano stated:
“I am delighted to be joining the CYBER1 team, in supporting the set up of their Global Advisory Board. Ever since my Special Forces training and from the privilege of chairing the Homeland Security Advisory Board post 9/11, I have been dedicated to the security of our citizens, government and private sector. My experience has taught me that to win this cyber war we need to appreciate that our collective approach is not a matter of sacrificing liberty for security. Rather we need to focus on securing liberty”
CYBER1 Chairman Kobus Paulsen commented:
“We are honoured to have Joe join our Global Advisory Board. With his rich and varied leadership experience in the fields of security and financial services, Joe adds tremendous depth, business acumen and a wealth of insight into our target markets. As we enter a new period of global expansion of our services, we will undoubtedly benefit from Joe's expertise, network and immense credibility in both the public and private sectors".
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk
ABOUT CYBER1
CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions, and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the CYBER1 Group delivers services and technology licenses designed to enhance clients’ protections against unwanted intrusions, provide and enhance cyber resilience, and to prevent various forms of information theft. CYBER1 had revenues of 17.2*m EUR in 2017 and employed 239 personnel at the end of Q3 2018. For further information, please visit www.cyber1.com/investors.
For further information, please visit: https://cyber1.com.
CYBER1 records highest quarterly revenue result of 14.04m EUR, with total year to date revenue growth of 113% and strong organic revenue growth of 69%
London United Kingdom – 31 October 2018 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber security, GRC is pleased to announce the Q3 2018 results. The Company has achieved its highest quarterly revenue since listing on Nasdaq First North, with revenues of 14.04m EUR. This brings CYBER1’s total year to date (YTD) revenues to 23.11m EUR, demonstrating 69% organic growth of 7.53m EUR and 113% overall total growth of 14.04m EUR versus the same period in 2017.
Highlights
- Total revenue growth increased by 113%, from 10.9m EUR YTD Q3 2017, to 23.11m EUR YTD Q3 2018.
- Organic revenue increased by 69%, from 10.9m EUR YTD Q3 2017, to 18.43m EUR YTD Q3 2018.
- Group Q3 2018 EBITDA of 566k EUR, (Q3 2017 EBITDA -734k EUR).
- Credence Security UAE increased revenue by 88.99%, from 2.27m EUR YTD Q3 2017, to 4.29m EUR YTD Q3 2018.
- Cognosec South Africa increased revenue by 95.81%, from 6.21m EUR YTD Q3 2017, to 12.16m EUR YTD Q3 2018.
- Newly acquired former Itway subsidiaries record revenues of 2.88m EUR for Q3.
- Group Q3 2018 EBITDA of 566k EUR, (Q3 2017 EBITDA -734k EUR).
- CYBER1 entered into an Exclusive Agreement to acquire 100% of InfoNet (Infonet Bilgi Teknolojileri Ticaret Limited) a leading Cyber business, with 2017 audited revenues of 20m EUR and EBITDA of 1m EUR.
The third quarter results detailed in this report, demonstrates a significant milestone in the history of CYBER1. We have surpassed our 2017 annual revenue of 17.19m EUR by the end of Q3, recording a year to date (YTD) total of 23.11m EUR in revenue (with our historically largest revenue generating quarter still to come). Total YTD growth at the end of Q3 equates to 113% (12.21m EUR), when comparing the same period in 2017. More importantly, year-on-year improvements have been realised organically. When excluding all acquisitions since 2017, the strategic initiatives within the subsidiaries have yielded a 69% increase in revenue growth (7.53m EUR) when compared to YTD Q3 2017.
The process of harmonising the initial acquisitions since CYBER1 became a public listed company, has begun to bear significant opportunities across all regions. Each subsidiary in CYBER1 possesses unique and long established relationships with their clients. Cross selling opportunities are materialising, as our professional services offering and wide ranging vendor portfolio continues to expand. A number of clients utilise CYBER1 as their sole provider of cyber security solutions and services, enabling primary focus on their core businesses, safe in the knowledge that their resilience against security threats remains apparent. Combined with our retention of annual and multi-year contracts with our longstanding clients, CYBER1 has created a successful environment for Group companies to evolve as a single, cohesive entity.
As we approach the final quarter for the year, CYBER1 is committed to building on this successful nine-month period to realise 2018 as a defining year for the organisation. With more people connecting online and new technologies emerging, the vulnerabilities that we are able to eradicate and reduce becomes more paramount to all organisations. As a complete provider for all cyber security needs, CYBER1 continues its vision in becoming the sole partner for the biggest and most influential participants/companies around the globe.
The report can be found on our Financial Report section of the website here
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 31.10.2018 at 17:00 CET.
ABOUT CYBER 1
CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q3 2018. For further information, please visit www.cyber1.com/investors
For further information, please visit: https://cyber1.com
CYBER1 Private Placement of Shares for €3,000,000
London United Kingdom – 23 October 2018 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber security, GRC and PCI services today announces a private placement of new shares (“New Shares”) through a directed new share issue to a qualified investor (the “Private Placement”).
The issue of the 13,277,097 New Shares at a share price of €0.226 results in the Company having 292,235,506 issued shares from 278,958,409 previously, a dilution of 4.54% and an increase in share capital of €3,474.770380 to a share capital at today’s date of €76,481.423632.
The investor is JFG Capital B.V. (“JFG” or the “Investor”), who has invested €3,000,000 for the 13,277,097 New Shares in the Private Placement.
The price of €0.226 per share for the Private Placement has been agreed in arms-length negotiation with the Investor, based on a 10-day average of the market share price at a 9% discount.
The Company intends to use the proceeds from the Private Placement to strengthen the working capital position of the Company, as well as to finance continued operations, further development of its cybersecurity service offerings, and corporate expansion.
The reason for conducting a directed new share issue via a Private Placement and thereby deviating from existing shareholders’ preferential rights is as a result of a number of factors, including:
- the view of the Company’s Board of Directors that, given the current constitution of the Company’s shareholders, a non-directed new share issue would run the risk of not being fully subscribed;
- the lower costs of the process (including underwriting) of the directed new issue;
- the timing advantage of a directed new issue, taking into account the current market fluctuations of the Company’s share price; and
- the desire of the Board of Directors to bring a new, influential shareholder into the Company.
The Board has concluded that the reasons above collectively indicate that it is in the shareholders’ interest, as well as that of the Company as a whole, that the issue of the New Shares is made with deviation from existing shareholders’ preferential rights.
The Private Placement is subject to, inter alia, a resolution by the Board of Directors of the Company and is in line with the authorisation to issue new shares given to the Board of Directors at the AGM on the 28 June 2018.
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tim Metcalfe / Miles Nolan
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 23.10.2018 at 14:00 CET.
ABOUT CYBER 1
CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com/investors
For further information, please visit: https://cyber1.com
Key Current and Future Cyber Security Threats for Organisations
2017 was a year of significant data security breaches worldwide, with organisations at all levels targeted.
According to Gartner, the worldwide spend on information security products and services in 2017 was $101.544bn, set to increase to $114bn by the end of this year, followed by $124bn by 2019, representing an almost 20% increase in the space of 2 years (https://www.gartner.com/en/newsroom/press-releases/2018-08-15-gartner-forecasts-worldwide-information-security-spending-to-exceed-124-billion-in-2019).
This growth is being driven by multiple factors.
In addition to traditional concerns, such as security risk for businesses relating specifically to potential data breaches, there is also growing awareness of the importance of organisational security, both from a financial as well as reputational standpoint for companies, due in no small part to the many high-profile breaches suffered in 2017 and 2018.
Even within the previous 2 months, Instagram was subject to a data breach, wherein hundreds of users had their accounts locked and their login emails replaced with Russian addresses. Although the number of users of affected was relatively small compared to Instagram’s user base, the compromise was enough to be reported by international media outlets, causing potentially significant damage to the company’s reputation (https://www.independent.co.uk/life-style/gadgets-and-tech/news/instagram-hack-accounts-russia-take-over-security-locked-how-2018-a8492406.html).
In addition to the above, there is also the additional and increasing pressure that exists due to regulatory concerns, most notably evinced by the introduction in May of this year of the EU General Data Protection Regulation (GDPR).
GDPR places an increased onus on organisations to responsibly process and protect individuals’ personal data. As such, its arrival is likely to require many organisations, from SMEs to large multinational companies, to develop a more holistic understanding of their security infrastructure, both from a technical perspective, as well as through other means, such as by allocating resources to educating their workforce, and introducing data policies that comply with regulatory requirements.
Notwithstanding the greater awareness and concomitant spending that organisations are now undertaking with respect to their cyber security, the nature of the threat against these organisations and, in particular, the sensitive data they hold both in relation to themselves and individuals, is ever-increasing, in sophistication and in scope.
In recognition of this growing threat landscape, Cyber 1 introduces the first in a series of articles designed to highlight key cyber security threats of which organisations should be aware, both now and in the future.
This week’s article focusses on a very commonplace threat: Business Email Compromise attacks (BECs).
Although much cyber security-related news in 2017 focussed on well-publicised ransomware attacks such as WannaCry and NotPetya, Cisco reported at the time in its mid-year cyber security report, that the greater threat to organisations lay in BECs (https://www.computerworld.com.au/article/626254/ransomware-gets-headlines-business-email-compromise-bigger-threat/).
These are a form of phishing attack, wherein an attacker impersonates, for example, a senior company executive, and thereby elicits employees to divulge confidential information, sensitive personal or business information, or even facilitate the transfer of company funds.
BECs often target large companies and can bypass the often-strong threat defences in place in such organisations, due in part to an absence of malware or malicious links, making purely software-based detection of this threat difficult.
BECs rely on social engineering: in other words, targeting the most vulnerable element of a company’s cyber security system, namely personnel. The main defence against BECs is therefore education of employees, as well as ensuring that appropriate disaster recovery mechanisms exist in case of breach.
However, to ensure comprehensive protection against these attacks, as is the case with any cyber threat, there is no single answer, technical or otherwise: instead, the corporate network should be considered in its entirety and appropriate safeguards implemented at every level, not just that of the employee.
CYBER1, as a 360o cyber security solution that offers products, services and round-the-clock vigilance on behalf of its clients, is well-placed to help organisations better understand their existing infrastructures and facilitate the development of better threat detection and response protocols.
It is through these measures that organisations can obviate the risk of the threats mentioned above, and it is in this arena that CYBER1 can assist vulnerable organisations: through its unparalleled combination of technical, regulatory and corporate expertise, CYBER1 is well-suited to offer tailored protection to organisations in diverse industries and jurisdictions.
The next edition will look at the risks associated with the use of Application Programming Interfaces (APIs).
CYBER1 signs multiple international deals, valued at more than €9m
London United Kingdom – 2 October 2018 – CYBER1 (the “Company”) (Nasdaq First North:CYB1, OTCQX:CYBNY), an international leader in cyber security, GRC and PCI services today announces a number of significant agreements have been signed across our subsidiaries in EMEA, to a number of large international organisations for the delivery of cyber security solutions and services. The agreements are multi year and have a value combination of over 9m EUR.
The three significant deals, are a mixture of new business and successful upselling on renewal agreements. The existing partnerships we have built enshrines the long term relationships we develop with our customers. In addition our subsidiaries continue to collaborate in exploring new opportunities across our regions to identify new opportunities with existing vendors in new geographies. In building knowledge and understanding of how our clients operate, we are perfectly placed to ensure that their cyber security needs are continuously evolving against the latest threats and vulnerabilities.
The demand for security services is ever increasing, as cybercrime becomes a commonplace reality for organisations, senior executives worldwide have to make investments in this area, to protect their organisations from financial and reputational damages that are associated with breaches and non-compliance.
CEO of CYBER1 Robert Brown, commenting on the deal, stated:
“Our relationships with our customers underpins the ethos of how operate as a Group. We are trusted with sensitive and confidential information for an array of international and national clients and that trust resonates in the long term partnerships we have developed. These deals are a reflection of that commitment to our clients and we will continue to find the latest innovative methods in building cyber resilience solutions to the market for our partners.”
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550 E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
European Investor Relations Contact:
Tim Metcalfe / Miles Nolan IR-contacts
CYBER1 Email: cyber1@investor-focus.co.uk
U.S. Investor Relations Contact:
Matt Glover or Najim Mostamand, CFA
Liolios Group, Inc.
949-574-3860
cyber1@liolios.com
ABOUT CYBER1
CYBER1 (formerly known as Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in UK, Austria, Italy, Germany, Sweden, South Africa, Kenya, Turkey, Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, formerly as Nasdaq: COGS.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2*m EUR in 2017 and employed 239 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com.
CYBER1 H1 2018 Results 20% Year on Year Revenue Growth With New Acquisition Identified
Cyber Security 1 AB (publ) (“CYBER1”), (Nasdaq:CYB1, OTCQX:CYBNY), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, announces today its first half interim report for 2018, which can be found here.
CYBER1 HIGHLIGHTS:
- Group Revenue increased by 19.97%, from 7.51m EUR in H1 2017, to 9.01m EUR in H1 2018.
- Credence Security UAE increased revenue by 26.3%, from 1.67m EUR in H1 2017, to 2.11m EUR in H1 2018.
- Cognosec South Africa increased revenue by 17.3%, from 4.05m EUR in H1 2017, to 4.75m EUR in H1 2018.
- Cognosec Europe increased revenues by 57.57%, from 535k EUR in H1 2017 to 843k EUR in H1 2018.
- Credence SA increased revenue by 23.28 %, from 786k EUR in H1 2017 to 969k EUR in H1 2018.
- Group Gross Margin increased 17.78%, from 3.15m EUR in H1 2017, to 3.71m EUR in H1 2018.
- Group Gross Margin for H1 2018 was 41% (H1 2017 Gross Margin: 42%).
- Beyond the quarter, CYBER1 entered into an Exclusive Agreement to acquire 100% of InfoNet (Infonet Bilgi Teknolojileri Ticaret Limited) a leading Cyber business, with 2017 audited revenues of 20m EUR and EBITDA of 1m EUR.
The first half of the year marked a significant milestone, with the rebranding of Cognosec AB to CYBER1 which will provide resellers, customers and investors with a clear understanding of who we are, our focus area and our intention to drive our brand globally to new clients who require leading, global, resilient cyber security and GRC solutions.
Total half year revenues across the Group have increased 19.97% (1.5m EUR), recording 9.01m EUR between January and June of 2018. This is due to subsidiaries demonstrating organic growth through new enterprise business and renewals underpinned by our strong client partnerships. In addition to this, key acquisitions have continued their performance after integrating successfully within the Group.
The momentum in the second quarter has positively impacted on the results demonstrated in this report, confirming that the demand for cyber security continues to be paramount to organisations and governments around the world. Our ethos in ensuring customers are more cyber resilient has resonated in the variety of solutions and services that are being delivered, with organic growth being realised particularly within the Middle East and South Africa regions.
CYBER1 is able to provide global coverage for its largest companies and international organisations. Through physical presences and remote applications we are able to cater for all forms of clients. With an established presence in Africa, western Europe and the Middle East, combined with our rapid expansion into the rest of Europe and other targeted geographies, highlights our ability and scope to work with the most influential businesses and nations in facilitating their cyber resilience. Whether you are a large multinational corporation, government agency or a S.M.E we have the multi-jurisdictional expertise and knowledge, so that we can be your complete provider for all of your cyber security and regulatory needs.
Our two clear lines of product distribution and professional services, ensures we are able to meet the ever-increasing demand against cyber threats. Within Credence Security, we continue to build on our key vendor relationships in the Group, to provide full coverage of cyber security tools, to create complex, multi-layered and overall resilient solutions. In Cognosec, we have extensive accreditations and decades of industry experience, to highlight and immediately rectify vulnerabilities, in conjunction with our compliance offering within GDPR, PCI DSS, SWIFT and many more.
For more information about CYBER1, please visit: www.cyber1.com
CERTIFIED ADVISER:
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550 E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations:
Tim Metcalfe / Miles Nolan IR-contacts
CYBER1 Email: cyber1@investor-focus.co.uk
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on the 31st August 2018 at 15:00 CET.
ABOUT CYBER1:
CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2*m EUR in 2017 and employed 239 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com/investors
CYBER1 to Present at the 7th Annual Liolios Gateway Conference on September 6, 2018
LONDON, Aug. 27, 2018- Cyber Security 1 AB (publ) ("CYBER1"), (NASDAQ: CYB1, OTCQX:CYBNY), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, has been invited to present at the 7th Annual Liolios Gateway Conference, which is being held September 5-6, 2018 at the Four Seasons Hotel in San Francisco, CA.
CYBER1 management is scheduled to present on Thursday, September 6 at 12:00 p.m. Pacific time, with one-on-one meetings to be held throughout the conference.
The presentation will be webcast live and available for replay here and on the Gateway Conference website at www.gateway-conference.com/presenters.
To receive additional information, request an invitation or to schedule a one-on-one meeting, please email gateway@liolios.com.
About the Gateway Conference
The 7th Annual Gateway Conference is an invite-only conference presented by Liolios, a full-service financial communications firm. Gateway was created to bring together the most compelling companies with the nation's top institutional investors and analysts. This year's event features approximately 100 companies from a number of growth industries, including technology, business and financial services, consumer, digital media, clean technology and life sciences. The format has been designed to give attendees direct access to senior management via company presentations, Q&A sessions and one-on-one meetings. For more information, visit www.gateway-conference.com or www.liolios.com.
About CYBER1
CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (NASDAQ: CYB1.ST, [formerly NASDAQ: COGS.ST]) and as an American Depositary Receipt (OTCQX:CYBNY), the Group delivers services and technology licenses to enhance clients' protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2m EUR in 2017 and employed 239 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com/investors.
CYBER1 Enters Exclusive Agreement To Acquire Infonet , A Leading Cyber Security Business In Turkey
- CYBER1 to acquire 100% of INFONET, subject to contract
- INFONET is a leader in the provision of cyber resilient products and solutions in the Turkish market
- 2017 revenues exceed $24m* with EBITDA of $1.6m*
- Consideration $14m comprising $2.8m cash and $11.2m CYB1 shares
Cyber Security 1 AB (publ) (“CYBER1”), (Nasdaq:CYB1, OTCQX:CYBNY), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, has signed an exclusive agreement with Turkish based INFONET to acquire 100% of its product and solutions business. The acquisition is in line with CYBER1’s strategy to expand enterprise product offering in the region.
In London today, CYBER1 announced the signing of Heads of Terms of Agreement pursuant to the acquisition of INFONET BILGI TEKNOLOJILERI TICARET LIMITED (“INFONET”) in Turkey on a cash free, debt free basis, which is expected to close in Q4, 2018 subject to legal, financial and technology due diligence exercises.
INFONET is a private limited company with registered offices in Istanbul and Ankara. The transaction will include the acquisition of 100% of the shares in INFONET and the transaction will be completed by CYBER1. The transaction will include the acquisition of 100% of outstanding shares for a consideration of $14,000,000 comprised of $2,800,000 cash and $11,200,000 CYBER1 new issue shares. The number of shares issued will be set at a ‘Strike Price’ of €0.48 (forty-eight-euro-cents). The transaction will be completed by CYBER1. There will be no other impact on CYBER1’s balance sheet.
INFONET is a very well established and profitable Cyber Security Services and product business. INFONET is registered in Turkey with offices in Istanbul and Ankara. The companies are recognised for its excellence as key cyber solution provider and boast several blue-chip clients amongst their customer rosters.
With INFONET occupying a key position within the Turkish IT Security market and now celebrating their 23rd year in business, they have been recognised as the leader and one of the most eminent cyber-focused businesses for the past ten years in the Turkish.
INFONET, audited by Grant Thornton and advised by PwC, employs thirty-seven full time personnel.
INFONET is a private company led by Dr. M. Kemal Ciliz as the Company’s Founder & Chairman. Dr. M. Kemal Ciliz educated in Turkey and U.S.A. is an active entrepreneur in the Turkish IT market and is the founder/investor of various IT start-ups in Internet related technologies in Turkey and USA.
Infonet has many man years’ experience in cyber-specific products specifically within the broader industry channels providing cyber resilient solutions across the Financial Services, Telecommunications, Logistics, Education, Manufacturing, Energy and E*Commerce sectors. The business has generated profitable revenues and the final, audited numbers for 2017 show revenues of some $24m and EBITDA of $1.6m.
They are key partners for Check Point Software Technologies, Forcepoint, Kaspersky, Trend Micro and RSA Security along with some other leading security vendors selling their products through a robust and resilient network serving a solid corporate customer base.
The INFONET acquisition will allow the CYBER1 businesses to grow with improved access to experienced business development and technically experienced cyber personnel in Turkey and beyond and the attractive economies that exist highly educated, experienced, English speaking graduates.
Additionally, it gives access to primary client networks and the INFONET acquisition alongside the recent ITWAY acquisitions, will put CYBER1 into the pre-eminent position in both Greece and Turkey, as the leading provider of cyber products and advisory services.
Kobus Paulsen, Chairman of CYBER1 commented – “Dr. Ciliz and his team have built a truly remarkable business showing historical and consistent CAGRs of over 20% in key emerging territories. Their hard work will be continued by the CYBER1 Teams, supported by our personnel from around the world, to build further profitable and sustainable revenues and profit contributions. The INFONET Team are a perfect fit for us from both cultural and entrepreneurial perspectives with highly dependable clients and we see immense benefits from our merger. We look forward to these next high growth phases of our businesses, together as one growing family.”
Dr. M. Kemal Ciliz, Founder and Chairman of INFONET said “This next phase of our Companies’ developments is crucial to the successful global roll-out of our offerings to a more diversified international client base. We currently serve over 2,000 clients and some 400 active resellers and CYBER1’s diversified geographical footprint will enable us to leverage our expertise and skills into new territories.”
For more information about CYBER1, please visit: www.cyber1.com
CERTIFIED ADVISER:
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550 E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations:
Tim Metcalfe / Miles Nolan IR-contacts
CYBER1 Email: cyber1@investor-focus.co.uk
This information is information that CYBER1 is obliged to make public, pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on the 9th August 2018 at 19:30 CET.
ABOUT CYBER1:
CYBER1 (formerly Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, the UK, Kenya, Germany, Austria, Turkey, Greece, Italy, the Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, [formerly Nasdaq: COGS.ST]) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of 17.2*m EUR in 2017 and employed 239 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com/investors.
* Figures rounded to nearest whole number
Cognosec AB (publ) rebrands as CYBER 1 (Nasdaq: CYB1; OTC – Nasdaq Intl: CYBNY)
Cognosec AB today announces that it is rebranding to CYBER 1, following an approved vote to formally change the company’s name at the Annual General Meeting of 28th June 2018.
The company’s legal name will be Cyber Security 1 AB, following approval by Bolagsverket.
The rebrand, which takes place with immediate effect, will also see the Nasdaq First North ticker (Nasdaq: COGS.ST) changed to Nasdaq: CYB1.ST, with the ticker change to take effect following this press release and receipt by Nasdaq of the exchange notice from our certified advisors Mangold Fondkommission AB. The rebranding will provide clear delineation between the parent company and its subsidiaries, which comprise the professional services and advisory arms, with the advisory arm also named Cognosec.
Commenting on the name change, Chairman of CYBER 1, Kobus Paulsen stated:
“Following several acquisitions, the decision to rebrand the parent entity marks the beginning of the next chapter for our company. CYBER 1 will provide both consumers and investors with a clear message and understanding of who we are and what we do, and it is our intention to drive this brand globally, in conjunction with both strong organic and acquisitive growth.”
For more information about CYBER 1, please visit the new website: www.cyber1.com
Certified Adviser
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550 E-mail: info@mangold.se
FOR FURTHER INFORMATION, PLEASE CONTACT:
European Investor Relations Contact:
Tim Metcalfe / Miles Nolan IR-contacts
CYBER1 AB Email: cyber1@investor-focus.co.uk
U.S. Investor Relations Contact:
Matt Glover or Najim Mostamand, CFA
Liolios Group, Inc.
949-574-3860
cyber1@liolios.com
ABOUT CYBER 1
CYBER 1 (formerly known as Cognosec AB) is engaged in providing cyber resilience solutions and conducts its operations through physical presences in Sweden, South Africa, UK, Kenya, Germany, Austria, Turkey, Greece, Italy, Ukraine and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: CYB1.ST, formerly as Nasdaq: COGS.ST) and as an American Depositary Receipt (OTCQX: CYBNY), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 AB had revenues of 17.2*m EUR in 2017 and employed 293 personnel at the end of Q2 2018. For further information, please visit www.cyber1.com/investors.