CYBER1 Private Placement of Shares for €812,744

London United Kingdom –18 March 2019 – Cyber Security 1 AB (Publ) (the “Company”) (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 3,250,976 New Shares at a share price of €0.25 results in the Company having 295,486,482 issued shares from 292,235,506 previously, a dilution of 0.99% and an increase in share capital of €850.818 to a share capital at today’s date of €77,332.24178.

The investment with the Company is undertaken by a number of parties:

  • Mr K Paulsen (CYBER1 Chairman)
  • Ramphastos Participaties Cooperatief U.A. (existing CYBER1 shareholder)
  • Brownstone Capital LLP (existing CYBER1 shareholder)
  • Mr H van der Linden (investor)
  • Mr A Verhoeven (investor)

who collectively have invested €812,744.00 for the 3,250,976 New Shares in the Private Placement.

The price €0.25 per share for the Private Placement has been agreed in arms-length negotiation with each of the parties as is at a premium to the current share price.

The Company intends to use the proceeds from the Private Placement as the first of a tranche of expected new funding 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, IFC Advisory,
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

Matt Glover or Najim Mostamand, CFA, Liolios Group,

US-Investor Relations contact, CYBER1

E-mail: cyber1@liolios.com

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 18th March 2019 at 17:00 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 44.54m EUR in 2018 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 To Acquire IntaForensics - Signs Exclusive Heads Of Terms Of Agreement

London United Kingdom – 5th March 2019 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security, today announces the signing of exclusive Heads of Terms of Agreement pursuant to the acquisition of IntaForensics.

 

Since IntaForensics’ formation in 2006, the business has grown internationally to provide the widest spectrum of Digital Forensic and Cyber Security Services from its headquarters in England. One of the fastest growing Digital Forensic Services providers in the world, IntaForensics is one of only a handful of organisations that possesses the prestigious ISO/IEC 17025 Laboratory Standard. Also accredited to ISO/IEC 27001 and ISO 9001, the business is accredited by the PCI Security Standards Council as a Qualified Security Assessor and a PCI Forensics Investigator (QSA, PFI). The Company employs 35 full-time employees across its multi-disciplined solutions. IntaForensics owns and developed the award-winning LIMA Forensic Case Management solution, in use since 2009, enabling digital forensic, incident response and eDiscovery practices, regardless of an organisation’s size, to operate efficiently and effectively through its comprehensive end-to-end Case Management system. IntaForensics’ clients include major Police Forces & public and private sector organisations across the globe.

 

Lima helps manage a significant number of law enforcement and regulatory digital forensic laboratories across the United Kingdom, One Lima case study involves a national Police Force that, after facing case management challenges surrounding the archiving and tracking of paperwork, researched the market for an effective forensic Case Management System. Specifications included support with the archiving and storage of paperwork, in addition to the management and movement of exhibits. They aimed to find an auditable forensic Case Management System that could improve efficiency for tracking and sharing examination data thereby avoiding the necessity to physically hunt down files and examiner notes.

 

The force decided that IntaForensics’ “Lima” was the solution for these areas of concern due to its capabilities surrounding quality standards and the storage of data and access rights. Lima allows organisations to demonstrate compliance with the ISO/IEC 17025 Professional Laboratory Standard, assuring that the presentation and level of work is above standards sought by auditors.  The storage of data is centralised, making for strong, highly visible representations, with configurable access rights. The force stated that these capabilities are of great benefit to them due to the impact it has on the sight and continuity of data.

 

Since Lima became the main digital forensic case management system for the force, the key issues they were facing on the management of workloads and assets have been resolved. IntaForensics’ Lima has made the department paperless as well as giving a visible insight into the workload of staff.

 

The full financial terms of the transaction, subject to contract, are to be released following Cyber1’s due diligence exercises, which shall be incepted immediately.

 

Nick Viney, Cyber1 Chief Executive Officer, commenting on IntaForensics’ acquisition:

 

“We are delighted to be working together to bring IntaForensics into the Cyber1 family. IntaForensics is a world-class digital forensics solutions provider and one of only a small, select handful of companies accredited to the ISO/IEC 17025 Laboratory and PCI Forensic Investigator Standards. This acquisition will have significant benefits for all parties, including our collective customers and the marketplace overall as we look to invest in and grow this exciting sector, rapidly. Andrew and his team have built up a strong client base and have an extremely complimentary culture to Cyber1. I’m confident our combined offering will be a very powerful one.” 

 

Andrew Frowen, Founder and Chief Executive Officer of IntaForensics said:

 

This is a tremendous opportunity for both Cyber 1 and IntaForensics and a testament to the tireless investment of effort and dedication from all the staff at IntaForensics since we created the company in 2006.  I am incredibly proud of all that we have achieved on our journey to become one of the market-leaders in the delivery of accredited digital forensics, predominantly to UK Law Enforcement and PFI investigations and cyber security services wider afield. Our flagship Lima product suite continues to develop into a world-class case management solution in use worldwide by organisations seeking quality accredited standards.  The acquisition of IntaForensics will provide the opportunity for Cyber1 to extend its global reach whilst increasing their portfolio of blended cyber security and digital forensic service offerings.  My management team and all staff are readily looking forward to working with Nick and the Cyber1 team to develop new opportunities and challenges within the Cyber1 group of companies.”

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, IFC Advisory,
Investor Relations contact, CYBER1
Email: cyber1@investor-focus.co.uk

 

Matt Glover or Najim Mostamand, CFA, Liolios Group,

US-Investor Relations contact, CYBER1

E-mail: cyber1@liolios.com

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 5th March 2019 at 17:00 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 44.54m EUR in 2018 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 completes 2018 with second successive highest quarterly revenue result of 21.43m EUR, with total annual revenue growth of 159% and annual organic revenue growth of 67%

  • Q4 2018 revenue equated to 21.43m EUR, an 238% increase (15.1m EUR) on Q4 2017 (6.34m EUR).
  • Total annual revenue growth increased by 159% (27.35m EUR), from 17.19m EUR YTD Q4 2017, to 44.54m EUR YTD Q4 2018.
  • Organic revenue increased by 67.4% (11.58m EUR), from 17.19m EUR YTD Q4 2017, to 28.77m EUR YTD Q4 2018.
  • Group Q4 2018 EBITDA of -292k EUR, (Q4 2017 EBITDA -93k EUR).
  • Credence Security increased revenue by 62.8% from 3.99m EUR YTD Q4 2017, to 6.49m EUR YTD Q4 2018.
  • Cognosec increased revenue by 83.7% (8.7m EUR), from 10.49m EUR YTD Q4 2017, to 19.2m EUR YTD Q4 2018.
  • Beyond the Quarter, CYBER1 appointed a new CEO in Nick Viney, followed by an exclusive five-year partnership with Formula 1, becoming their official cyber security provider.

Performance Overview

The fourth quarter results detailed in this report, have rounded off a pivotal year in the history of CYBER1. Building on top of a strong third quarter, the company achieved Q4 revenues of 21.43m EUR. With many of the subsidiaries being traditionally back-end loaded, continued organic revenue growth has been further realised year on year at 67.4%. This is a key mission statement for CYBER1, in building long term trust with our partners, combining proven results in implementing our services and solutions. We strongly feel this client centred approach will result in longer term benefits to CYBER1, its vendors and overall customer portfolio.

Combined with our recent acquisition results in 2018, overall year on year quarterly revenue growth has yielded a 238% increase (15.1m EUR). The former Itway subsidiaries continue to add tremendous value to the CYBER1 Group, with a number of diverse vendors and unique client base, that aid in consolidating and increasing our overall market presence in Europe, a key objective for 2019. These two drivers of internal growth combined with a methodical acquisition process, have underpinned our approach to further extend and build the company. Intertwined with this is ensuring that CYBER1’s integration process allows for entrepreneurial creativity and vision, combined with strong leadership and governance throughout the Group. CYBER1 sees these three pillars of organic growth, select acquisitions and a robust governance as the key to unlocking the company’s potential growth in the future.

CEO of CYBER1 Nick Viney commented: “The Group’s strong rapport and relationships with clients have cultivated a trust and understanding of their cyber security environments. The newly acquired businesses have continued their performance and I am excited with the cross-collaborative opportunities that are already bearing return, in driving organic growth within the Group of 67% in 2018 and overall 159% annual revenue growth being a testament to the hard work and dedication of CYBER1 and our partners. Looking ahead to 2019 and as we enter into our third year as a listed company, I look forward to integrating our subsidiaries closer together, to realise new commercial opportunities whilst ensuring appropriate internal governance can be achieved with our newly acquired and existing companies.”

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 28.02.2019  at 14:30 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 44.54m EUR in 2018 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 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 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


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 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 completes acquisition of ADVANTIO

  • Cognosec acquires 100% of ADVANTIO, subject to usual closing conditions
  • ADVANTIO is a specialist cyber resilience and advisory business
  • In 2017, ADVANTIO had revenues of €2.85m and EBITDA of €502k
  • The consideration of €12m comprises €2.4m cash and €9.6m value in Cognosec shares satisfied by the issue of 20,000,000 shares at a €0.48 strike price.

Cognosec AB (publ) (“Cognosec” or “The Company”), (Nasdaq: COGS, OTCQX-Nasdaq Intl: CYBNY), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, signs share sale and purchase agreement with ADVANTIO, a Dublin-registered company specialising in the provision of cyber resilience solutions, products and services. The acquisition is in line with Cognosec’s strategy to expand the information security advisory area of its business.

 

Cognosec AB today announces the signing of a share sale and purchase agreement pursuant to the acquisition of ADVANTIO, which has closed in Q2 2018 subject to usual closing conditions.

ADVANTIO is a Dublin-registered company with offices in Dublin, Naples, Rome and Kiev. The transaction will include the acquisition of 100% of outstanding shares in ADVANTIO for a consideration of €12,000,000, comprising €2,400,000 cash and €9,600,000 value in Cognosec AB new issue shares at a €0.48 strike price. The share consideration will be satisfied by the issue of 20,000,000 new shares, resulting in 298,958,409 issued shares from 278,958,409 issued shares previously and a dilution of 7.12**%. In addition, the new shares will result in a change in share capital of 5,234 EUR, which is a change from a previous share capital amount of 73,007 EUR, to 78,241 EUR. There will be no other impact on Cognosec AB’s balance sheet.

ADVANTIO is a specialist cyber resilience advisory company providing professional advisory services, managed solutions and its own inhouse developed SaaS security and compliance solutions along with multilingual support covering eighteen languages. ADVANTIO was established by a team who are pioneers in cyber security and who together possess a combined total of over eighty years’ management experience specifically within the provision of advisory and technology-driven professional services. ADVANTIO provides a focused approach to the provision of cyber resilience and compliance solutions across numerous business sectors including Travel & Leisure, Financial Services, Technology and Industrials. ADVANTIO helps merchants and merchant portfolio authorities ensure that they are fully compliant with applicable PCI DSS requirements, both with regards to specialized areas such as Requirement 9.9, which relates to the protection of POS devices and Cardholder Data, as well as general compliance, helping organisations become fully cyber resilient, going from zero to PCI-compliant.

ADVANTIO complements the recent acquisitions by Cognosec AB and is established in key synergistic geographies that both support and complement Cognosec AB’s existing geographical and technological infrastructures.

ADVANTIO recorded revenues of €2.85m in 2017 and EBITDA of €502k.

The acquisition of ADVANTIO will improve Cognosec AB’s competitive advantage in advisory services, especially within the key area of Governance, Risk and Compliance.

Commenting upon the acquisition of the business by Cognosec AB, Marco Borza, ADVANTIO’s Co-founder & CEO, says that – “We are finally now joining the Cognosec AB family and it brings us tremendous excitement in building for the future with our esteemed customers and our loyal employees. We now have the opportunity to accelerate our aggressive growth plans through the addition of brand-new geographies for us, including new territories encompassing EMEA and through Cognosec AB’s existing clientele.”
Kobus Paulsen, Chairman of Cognosec AB commented – “Marco, Martin, Francesco and Irmantas, who lead ADVANTIO’s management and executive teams, have worked unbelievably hard in building a profitable and productive business, and the synergies between our organisations from both cultural and commercial perspectives are a perfect fit. ADVANTIO has a Who’s Who? of customers in key industry sectors and they provide critical support and technological capabilities in key geographies to these clients. Their ability to provide continuous care is undisputed – hence the reason their clients have stayed with them for many years. We cannot wait to build the next phases of our growth, together and it has been a true pleasure to work with Marco and his teams through the acquisition phase.”

The acquisition will place Cognosec and Advantio together in the top bracket of PCI Qualified Security Assessors and PCI Approved Scanning Vendors worldwide and in the top three in Europe.

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

IR-contacts, Cognosec AB
Email: cognosec@investor-focus.co.uk

This information is information that Cognosec AB 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 26 June, 2018, at 20.00 CET.

ABOUT COGNOSEC
Cognosec AB (Publ) is engaged in providing cyber resilience solutions and in the prevention of cyber attacks. The business conducts international operations from offices in Sweden, South Africa, the UK, Kenya, Germany, Austria and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: COGS) and OTC-Nasdaq Intl. Designation (CYBNY), Cognosec delivers services and bespoke technologies to enhance public and private sector organisations’ protections against unwanted intrusions and designs holistic, organisation-wide solutions to prevent diverse and increasing forms of information and identity theft. Cognosec had revenues of EUR17.19m in 2017 and employed 173 personnel at the end of Q1 2018. For further information, please visit www.cognosec.se


Cognosec completes acquisition of ITWAY’s Cyber Security Value Added Distributor interests in Turkey and Greece

  • Cognosec acquires 100% of ITWAY HELLAS SL SA & ITWAY TURKYIE LTD
  • ITWAY Turkey and Greece dominate cyber product distribution markets.
  • ITWAY Turkey and Greece revenues in 2017 were €26m with EBITDA of €1.9m
  • Consideration of EUR10m comprises EUR2m cash and EUR8m value in Cognosec shares satisfied by the issue of 16,666,666 shares at €0.48.

Cognosec AB (publ) (“Cognosec”), (Nasdaq:COGS OTCQX:CYBNY), a leading provider of cyber security resilience with operations in Europe, Africa and the Middle East, signs Share Sale and Purchase Agreement (“SPA”) with ITWAY S.p.A. (“ITWAY”), a public company listed on the stock exchange managed by Borsa Italiana S.p.A. (“ITW.MI”), to acquire its Turkish and Greek cyber security product Value Added Distributors, subject to usual closing conditions.

Cognosec today announces the signing of a SPA related to the acquisition by Cognosec AB of 100% of the shares in ITWAY HELLAS SL SA & ITWAY TURKYIE LTD with aggregate revenues in 2017 of €26m* and EBITDA of €1.9m resulting in a Cognosec AB combined 2017 pro-forma revenue basis of €44m*

The total consideration payable by Cognosec for the transaction is €10m consisting of €2m in cash with the balance made up of €8m in Cognosec AB new issue shares. The share consideration will be satisfied by the issue of 16,666,666 new shares resulting in 278,958,409 issued shares from 262,291,743 previously and a dilution of 6.35%. No external debt has been required to complete this transaction.

The sale by ITWAY of the Value Added Distribution (VAD) businesses in Greece and Turkey completes the divestment programme of their VAD businesses. The Greek business, headquartered in Halandri, Athens, is the sole distributor for market-leading cyber brands including Check Point, RSA & McAfee and generated around 30% of the combined businesses’ revenues in the last financial year. The Turkish business, headquartered in Istanbul, Turkey, generates around 70% of the combined businesses’ revenues and counts CyberArk, Algosec and Rapid7 amongst its sole distributor relationships. Between them, the businesses employ 23 full time personnel. Both organisations have evidenced strong growth records in their respective geography and are both profitable and balance sheet positive.

The acquisition of these businesses complements the recent acquisitions made by Cognosec already established in key synergistic geographies that both support and complement Cognosec’s existing geographical and technological infrastructures.

The acquisition of the ITWAY businesses will also improve Cognosec’s competitive advantage especially within further geographical footholds for aggressive expansion.

The transaction, as expected and previously announced, closed in Q2, 2018.

Kobus Paulsen, Chairman of Cognosec commented – “It is with great pleasure that we welcome the ITWAY businesses to the Cognosec Family. Andrea and his Teams in Greece and Turkey have built remarkable cyber businesses that have shown consistent CAGRs of 20% over the past few years. They have built impeccable reputations and strong, loyal and ever expanding customer bases. I am also sincerely looking forward to working closely with Andrea, moving forwards, as a key Strategic Advisor to Cognosec AB where, with his many years cyber-specific experience, he will assist me and my Teams in identifying profitable opportunities for both organic and, merger & acquisition led growth.”

G. Andrea Farina, Chairman and CEO of ITWAY said: “We believe that Cognosec is the best option for the future of Value Added Distribution operations in Greece and Turkey. The clever vision of Kobus and the deep knowledge of the cybersecurity market of Cognosec AB, together with the highly ITWAY-relevant roles & footprints in the Greek and Turkish markets represent an exceptionally strong and consistent basis for both growth and leadership in the future. Meanwhile, we will also continue to strengthen our cooperation with Cognosec AB in our common development growth strategies.”

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
IR-contacts, Cognosec AB
Email: cognosec@investor-focus.co.uk

This information is information that Cognosec AB 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 20th June, 2018, at 08:00 CET.

ABOUT COGNOSEC
Cognosec AB (Publ) is engaged in providing cyber resilience solutions and in the prevention of cyber attacks. The business conducts international operations from offices in Sweden, South Africa, the UK, Kenya, Germany, Austria and the United Arab Emirates. Listed on Nasdaq First North (Nasdaq: COGS) and OTC-Nasdaq Intl. Designation (CYBNY), Cognosec delivers services and bespoke technologies to enhance public and private sector organisations’ protections against unwanted intrusions and designs holistic, organisation-wide solutions to prevent diverse and increasing forms of information and identity theft. Cognosec had revenues of EUR17.19m in 2017 and employed 173 personnel at the end of Q1 2018. For further information, please visit www.cognosec.se