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Journeo PLC on Monday said that its newly-acquired subsidiary has secured a £5 million contracted with an unnamed UK utility company. Based in Ashby-de-la-Zouch, Leicestershire, Journeo provides information systems and technical services to transport operators and local authorities. Last Monday, the firm completed its acquistion of Crime and Fire Defence Systems Ltd, which Journeo described as an integrator of physical and cyber security for the UK’s infrastructure, defence and utilities sectors. CFDS has a four-year framework agreement for ‘infrastructure protection services across multiple sites’, Journeo noted, with a total value up to £5 million. Journeo is paying £10.7 million cash for CFDS, plus £2 million in two equal deferred payments, due 12 and 24 months after completion. A further £1 million is being paid via the issue of new Journeo shares at 6.5p each, giving CFDS more than £1 million in cash on completion, Journeo estimated. CFDS made a £1.4 million pretax profit in the year that ended April 30, on revenue of £17.3 million. Journeo expects its new subsidiary to add £4 million in revenue and £400,000 in pretax profit to full-year earnings. Journo Chief Executive Russ Singleton commented on CFDS: ‘This award provides strong early validation of the strategic rationale for the transaction and demonstrates the value of their specialist expertise in physical and cyber security. The four-year programme provides a solid foundation for growth and reflects the confidence that major utilities place in the Group’s ability to deliver robust, innovative solutions.’ Journeo shares were up 8.3% at 497.00 pence on Monday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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