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Shares in Crossword Cybersecurity PLC leapt on Tuesday after it signed a three-year exclusive partnership to jointly market Rizikon, Crossword’s supply-chain cyber platform. Shares in the London-based cyber security and risk technology firm jumped 69% to 6.94 pence in London on Tuesday giving it a market value of £6.9 million. Shares hit 7.66p earlier Tuesday. The stock remains down 30% over the past 12 months. Crossword Cybersecurity said the deal with the UK subsidiary of a ‘global aerospace, defence and security company’, which it didn’t name, will help market Rizikon to selected sub-sectors within the UK critical national infrastructure market. The partnership will be publicly launched to clients by both parties in the next few weeks. Crossword Cybersecurity said the partner has identified a particular need for clients across the CNI sector. Incoming Crossword Security Chief Executive Stuart Jubb called it a potentially ‘transformational’ partnership for Crossword ‘with a global scale, innovative defence and security partner with an outstanding reputation’. ‘This Rizikon partnership will enable us to help multiple, large scale CNI organisations make their supply chains more secure. This partnership will drive significant growth in Crossword’s Rizikon revenue with the potential to generate several million pounds over the coming years,’ he said. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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