Yorkshire cyber security biz ECSC Group to debut on AIM exchange
These breaches ain't bad for business...
Bradford-based cyber security consultancy ECSC Group is set to float on the AIM stock exchange on December 14.
ECSC is bullish about its prospects, stating that the "recent proliferation of high-profile cyber security breaches affecting some of the world's most largest companies" has made cyber security a strategic issue for company boards.
The firm wants to list on AIM in order to pull in investment that will allow it to accelerate its growth. More specially it plans to quadruple its headcount from 50 to 200 by the end of 2018 as well as open an Australian Security Operations Centre to facilitate round-the-clock global manned operations.
Since its foundation 16 years ago, ECSC has attracted a raft of blue-chip clients including Barclays.
ECSC is proposing to raise approximately £5m through a placing of just under 3 million new shares at a price of 167 pence per share. If successful, this will give ECSC a market capitalisation of £15m. The firm claims it is already profitable with annual revenue growth of 16.9 per cent between 2013–2016.
Its board of directors on admission to AIM includes Nigel Payne, previously chief exec of Sportingbet plc, as non-executive chairman. ®