Cyber 1 Demonstrates Strong Underlying Momentum in Its Core Business as It Closes Another Successful Quarter, With the Top Five Deals Amounting to €5.4 Million in New Business
07 January 2020, Cyber Security 1 AB, a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, is pleased to announce a number of large new deals as the company closes off a successful 2019.
As an organisation underpinned by dynamic organic growth and supplemented by a fast-growing and accretive acquisition model, CYBER1’s strategic efforts on cross collaboration between subsidiaries was a key focal point for the Group in the last two quarters of 2019 and will continue into 2020, realising the collective opportunities available as further harmonisation is realised.
A clear example of this focus is demonstrated in that of the five significant deals closed in Q4, four of these include upselling of additional solutions into the existing CYBER1 group customer base.
This land and expand approach in providing a complete and expansive offering to our clients, has been successful in driving organic growth targets, increasing LTV (Life time value) a key financial metric, as well as ensuring our solutions deliver integral results to our partners.
In addition, we continue to acquire new enterprise business, leveraging our vendor relationships to ensure we have a differentiator in pricing against our competitors, whilst ensuring our implementation services are delivered efficiently and effectively.
Notable deals closed in Q4 2019:
- South African based Financial Services, 1.5m EUR, (1-year contract value).
- Multi-national insurance provider, 1.2m EUR, (3-year contract value).
- Large-scale energy provider, 918k EUR, (3-year contract value).
- South African based Financial Services, 900k EUR (3-year contract value).
- Government forensics deal, 890k EUR. (3-year contract value).
The CYBER1 Chief Operations Officer, Vivian Gevers, commenting on the deals closed to date in the last quarter, stated:
“As cyber security challenges continue to increase at a rapid rate, CYBER1 is well positioned to meet these growing demands through its professional consultants coupled with its global strategic partnerships to deliver bespoke solutions. The CYBER1 customer relationships are deep and trusted, some spanning decades and we look forward to strengthening those connections into 2020 and beyond.”