GCIPires Investments' Smarttech247 and Splunk join forces on cybersecurity
() , a holding company focused on next-generation technology, said its portfolio company () has entered into a strategic partnership with cybersecurity giant Splunk.
The partnership aims to bring together Smarttech247's automation-driven VisionX managed detection and response (MDR) technology and Splunk's SIEM technology, creating a "dynamic synergy that addresses the evolving needs of the changing threat landscape and delivers comprehensive solutions to drive security efficiencies."
Nicholas Lee, Director at Pires Investments, commented: "The partnership between Smarttech247 and Splunk Inc clearly demonstrates Smarttech247's progressive approach to cybersecurity and is further evidence of the progress that the company is making in the cybersecurity sector."
View from Vox
Pires Investments' Smarttech247 scores a major deal with cybersecurity giant Splunk. The latter is a popular enterprise solution known for its unified security and observability platform. Cisco recently announced its intended acquisition of Splunk for c. US$28 billion to form one of the world's largest software companies, which could further expand sales opportunities for Smarttech247.
Today's news follows on from Smarttech247's recent announcement of a new contract with an existing Government of Ireland Department client worth c. €400k over 2 years, as well as a 3-year contract extension with another existing client, Auto Nation, the largest car retailer in the US.
In its recent interim results to June 30 2023, Pires reported strong growth in revenue and customers for Smarttech247 following its December 2022 AIM floatation. After the listing, Smarttech247 raised £3.7m through a placing at 29.66p, and its current share price is 32p - around 8% higher than the IPO price. Today's announcement further underscores Smarttech247's growth prospects as it is positioned at the intersection of 3 major cyber security growth markets.
At the moment, Pires is significantly undervalued compared to its NAV, with shares currently at a 67.5% discount to its NAV/share price of 4p. That leaves significant potential for growth, with the wide discount to NAV offering an attractive entry point for investors.
Follow News & Updates from Smarttech247: and Pires Investments:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.