Contract wins for managed detection and response
ECSC Group plc, a provider of cyber security services, has announced two significant contract wins in its Managed Detection and Response (MDR) division for one of the UK’s major rail companies and a national builder’s merchant.
The contracts, each of which are for an initial period of three years, have a combined revenue value of UK£580,000 (EUR642,000) and represent over 20% of the current MDR order book. Revenues will be recognised throughout the duration of the contracts.
ECSC will provide 24/7/365 cyber security monitoring, detection and response support from the Group’s Security Operations Centres (SOCs) located in the UK and Australia, employing its proprietary Kepler Artificial Intelligence (AI) technology to deliver an enhanced service.
In addition to the above, the group has delivered its first Nebula Cloud MDR service to another new client, utilising the same AI technologies. As a monthly subscription service this does not materially affect the current order book.
Ian Mann, chief executive officer of ECSC, comments: “We are delighted to announce two further major contract wins for our MDR division across two diverse sectors. For the rail company, we will be deploying our MDR services to complement its existing long-standing managed services, whilst the national builder’s merchant, although an existing Assurance client for the past 10 months, is a new win for this division. These new contracts demonstrate the resilience of the long-established MDR service that has continued to grow throughout 2020 in line with our strategy to expand MDR recurring revenue as a proportion of overall revenue.
“ECSC’s MDR services allow clients to receive immediate alerts to potential incidents, and combine expert advice, incident response and containment, preventing escalation to costly breaches. Following the introduction of the 2019 GDPR related fines from the Information Commissioner’s Office (ICO), it is increasingly critical for all organisations to have effective cyber security breach detection and expert response,” Mann adds.
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