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Nick Hill

Cyber security group Falanx wins 3-year contract and appoints new CFO

Falanx Group Ltd, the global intelligence, security and cyber defence provider, has won a multi-year cyber security contract and announced the appointment of a new Chief Financial Officer (CFO).

The company has secured a new 3-year managed Cyber Security service contract with a UK Health Sector organisation. This will generate in excess of £250k of revenues for Falanx during the course of the contract.

Falanx said that the unnamed Health Sector organisation “now enjoys the benefit of all the Falanx product offerings of Assess, Consult, Monitor and Response. This new contract provides an expansion of our Protective Monitoring service to provide more comprehensive coverage of the IT estate.”

In addition, the Falanx Cyber ‘Incident Response’ service will provide 24/7 coverage to contain and protect infrastructure in the event of a breach or data leakage.

This extension of cover allows the Falanx team to immediately isolate the part of the network that has been detected as compromised from within the Falanx SOC (Security Operations Centre), whilst remediation takes place.

Mike Read, chairman and CEO, commented: “I am delighted to report the extension and increase of services to one of our most valued clients in the Health Sector.

“This further demonstrates our ability to successfully migrate clients consuming traditional cyber test and consultancy services into managed monitoring of their network with our proprietary platform and on-call response.”

Furthermore, Ian Selby has also been appointed as the new CFO with effect from 15th January 2018.

Ian is a Chartered Accountant with experience in the technology, security and business services sectors. He was previously the CFO of AIM-listed Westminster Group plc where he supported the development of their managed services business and the raising of the associated financing.

Before this, he was Group Finance Director of Zenith Hygiene Group plc, where he played a key role in a trade sale and prior to this was the CFO of a listed software company focused on financial and public sectors.

Mike Reed added: I am also very pleased to welcome Ian Selby to our team. Ian comes with an extremely strong background in assisting the development of successful businesses and knowledge of AIM.

“I am sure he will be an extremely valued and influential member of our team as we continue to grow.”

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