TIDMPIRI
Pires Investments PLC
15 December 2022
15 December 2022
Pires Investments plc
("Pires" or the "Company")
Investment in Smarttech247 Group plc
Smarttech247 admitted to trading on AIM
Pires Investments plc (AIM: PIRI), the investment company
focused on next-generation technology, is pleased to provide an
update in relation to the first Sure Valley Ventures ("SVV") fund's
("SVV1") investment in Smarttech247 Group plc ("Smarttech247").
Pires is pleased to note the announcement by Smarttech247 Group
plc ("Smarttech247") of the admission of its shares to trading on
the London Stock Exchange's AIM market today, being 15 December
2022 and its first day of dealings, extracts from which are set out
below.
Key Highlights
-- Smarttech247 is a multi-award-winning, AI-based cybersecurity
organisation led by a highly experienced Board and management team,
with its head office in Cork, Republic of Ireland and a client base
predominantly in Europe and the USA.
-- The company is profitable and cash generative and has
achieved significant revenue growth in FY21 (20% over projected
revenue and 50% growth compared to FY20) and expects continued
growth in FY22.
-- Smarttech247 provides security solutions to a growing list of
blue-chip clients (B2B) utilising an automated Managed Detection
and Response Platform. The Group's services target proactive
prevention for clients and utilise the latest methodology in cloud,
big data analytics and machine learning, as well as incident
response teams, to protect enterprises as they migrate to
cloud-based IT operations.
-- Smarttech247's diverse portfolio of customers includes
pharmaceutical, technology, industrial and services companies.
-- The company has demonstrated a return on investment for
clients using its platform. Forrester Consulting determined that
the VisionX product provides in excess of a 300% ROI and EUR2
million net of present value (NPV), providing customers with a
"payback" on investment within 6 months.
-- Smarttech247 is highly focused on innovation and operational
excellence, and has exciting plans to continue to expand its
Research and Development department in order to further enhance its
security technologies. Two new proprietary technologies ThreatHub
and VisionX were launched in 2022, in addition to NoPhish in
2021.
As announced on 1 December 2022, Smarttech247 has successfully
raised gross proceeds of GBP3.67 million, through a placing of
12,385,828 new ordinary shares at the placing price of 29.66 pence
per share. Based on the placing price, Smarttech247's market
capitalisation is approximately GBP36.80 million at admission.
Further information on Smarttech247 can be found on the
company's website, www.smarttech247.com .
Pires has a combined direct and indirect interest of circa 20%
in SVV1, a venture capital fund focused on investing in the
software technology sector with a specific focus on Artificial
Intelligence, the Internet of Things, Cyber Security, Machine
Learning, Immersive Technologies and Big Data.
Nicholas Lee, Director of Pires, commented:
"We are very pleased that Smarttech247 has now completed its
listing on AIM against the background of current difficult market
conditions. This is further demonstration of the returns that can
be generated from the Company's investment in SVV1 and we are
looking forward to more of the same as the fund continues into its
realisation phase."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence, Internet
of Things, Cyber Security, Machine Learning, Immersive Technologies
and Big Data, which the Board believes demonstrate evidence of
traction and the potential for exponential growth, due to
increasing global demand for development in these sectors.
For further information, visit:
https://piresinvestments.com/
About Smarttech247
Smarttech247 is a multi-award winning automated MDR (Managed
Detection & Response) company. Its platform is trusted by
international organisations and provides threat intelligence with
managed detection and response to provide actionable insights, 24/7
threat detection, investigation and response.
The company's service is geared towards proactive prevention and
it achieves this by utilising the latest in cloud, big data
analytics and machine learning, along with an experienced incident
response team.
Smarttech247's offices are located in Ireland, United Kingdom,
Romania, Poland and the USA.
For further information, visit: www.smarttech247.com
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December 15, 2022 03:44 ET (08:44 GMT)
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