Falanx Group Limited Proprietary Platform and Partnership Agreements (6820A)
28 March 2017 - 5:01PM
UK Regulatory
TIDMFLX
RNS Number : 6820A
Falanx Group Limited
28 March 2017
Falanx Group Limited
("Falanx" or "the Company")
LAUNCH OF PROPRIETARY PLATFORM AND PARTNERSHIP AGREEMENTS
Falanx Group (AIM:FLX), the global intelligence, security and
cyber defence provider, is pleased to announce the launch of
MidGARD, its wholly owned, proprietary, cyber threat detection
platform.
MidGARD detects, alerts and provides analysts with the ability
to investigate and intervene in cyber security threats as they
occur on client's networks and systems. The MidGARD platform IPR is
wholly owned by Falanx and is currently live on its first client
network and the value of this pilot contract is approximately
GBP50,000 per annum.
In addition, the use of MidGARD will eliminate the costs to the
Company of licensing an off the shelf product, resulting in an
expected operational cost reduction of approximately GBP0.5M per
annum, when fully rolled out.
The Directors believe that MidGARD will have a broad market
appeal and will represent a highly cost effective solution for both
Government, Enterprise and Small to Medium size companies.
MidGARD Represents the latest innovations in advanced threat
detection and security incident and event management. It brings
together big data analytics and external intelligence aggregation,
backed up with our own live Security Operations Centre based in the
UK, manned by UK Security Cleared Staff.
Enabled by MidGARD, our Security Operations Centre alerts the
client of the problem and puts in place the most appropriate course
of action. This is further extended through our Incident Response
Service where we start to defend the organisation in real-time
while a team is deployed onsite to start the recovery process.
MidGARD has been designed to be fully compliant within UK
Government organisations and large Enterprise class clients who
have demanding compliance and regulatory needs. Our platform is
also available as a dedicated Small to Medium Enterprise Solution,
called "microSOC". Bringing the quality of an Enterprise class
platform at a price and size dedicated for the UK SME.
Partnership Agreements
Falanx Cyber Defence has well established distribution channels
through which MidGARD will now be supplied, creating exposure to
over 2000 potential new clients in UK alone, through;
-- CDW Corporation: The $9bn NASDAQ technology solutions provider
-- NASSTAR Plc : The AIM listed, managed IT services provider
-- SNX Systems: One of the UK's leading Financial Services IT solutions providers
Stuart Bladen, CEO of Falanx Group, commented:
"We are delighted Falanx has successfully developed, and now
owns and operates, such a highly featured, efficient and scalable
monitoring platform. MidGARD represents a highly significant
step-forward in cyber security monitoring. Engineered from the
outset to provide clients with the option of either an SME product,
or a fully managed, Enterprise class, and 'Security-As-A-Service'.
Through our channel partnerships, we expect to achieve substantial
scale and growth across our direct and managed cyber security
services."
UKIS 2017:
If you would like to meet the team and learn more about our
technology and our business, please come and visit us at the UK
Investor Show, held in the Queen Elizabeth II Conference Centre in
Westminster, London, on Saturday 1(st) April 2017.
Website:
Please find our new website at www.falanx.com
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
Enquiries:
Falanx Group Limited www.falanx.com
Stuart Bladen, Chief Executive
Officer
SPARK Advisory Partners
Limited
Nominated Adviser
Matt Davis / James Keeshan +44 (0) 203 368 3551
Whitman Howard Limited
Broker
Nick Lovering / Francis
North +44 (0) 207 659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
END
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