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6 September 2021
('Drumz' or the 'Company')
Further Investment and Update
Drumz plc (AIM:DRUM) is pleased to announce that Drumz has exercised its option to acquire a further 5% in Acuity Risk Management Limited (‘Acuity’), in which Drumz already has a 20% shareholding, thereby increasing its shareholding to 25%, for a cash consideration of £125,000.
Acuity’s product STREAM™ is an Integrated Risk Manager (“IRM”) software product. STREAM™ is used by private and public sector clients to manage their cyber security and other enterprise risks.
Update on Acuity
Gartner, the global research and advisory firm, has identified Acuity and its product STREAM™ in major reports in 2021.
Gartner Peer Reviews on IT Risk Management – STREAM™ is the number one product
Gartner survey on Hype Cycle™ for Cyber and IT Risk Management, 2021 covers Acuity and STREAM™.
Acuity has launched a significant upgrade to STREAM™ which offers users enhancements for productivity, workflow, user management, security and audit. Additionally, Acuity has secured ISO 27001 status, the international standard for management and protection of information assets and security.
Additionally, Acuity has been shortlisted for ‘Cyber Security Solution of the Year’ in the National Technology Awards, 2021.
Acuity’s business continues to expand, there have been two recent new business wins with a value of approximately £250,000.
Angus Forrest, Chief Executive of Drumz said:
“Cybersecurity continues to grow in importance as organisations transform using digital products and services. We are pleased with the progress made by Acuity since our initial investment, all aspects of the business have been strengthened with further developments in progress. Increasing Drumz’ shareholding represents a further endorsement of the management team at Acuity and I am greatly encouraged that expert commentators such as Gartner continue to rate Acuity’s STREAM™ product extremely highly.”
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those obligations.
For further information please contact:
+44 (0) 20 3582 0566
WH Ireland (NOMAD & Broker)
Mike Coe / Sarah Mather
020 7220 1666
Peterhouse Capital Limited (Joint broker)
Lucy Williams / Duncan Vasey
020 7469 0936
Note to Editors
Drumz plc (AIM): DRUM) is an investing company focused on investing in and acquiring established software businesses that own good technology, have quality customers and which could better exploit their assets and accelerate their growth with the injection of experienced management and new funds.
Drumz will, where necessary, make available some of its experienced management team and provide finance to facilitate the necessary changes, so that the value of the businesses in which Drumz invests will be transformed over a two to four year period. In due course, the new Directors expect to dispose of such businesses, in whole or in part, in order to realise value for Drumz and its shareholders.