Cyber Security firm ECSC Group floats on AIM, raises £5.9m
ECSC Group plc, a Bradford-based cybersecurity firm has listed on AIM, raising £5.9m.
Founded in 2000, the company claims to serve blue-chip clients such as Barclays and GCHQ.
According to a statement, the firm will use the funds raised through its IPO to increase its headcount (from 50 to approximately 200 by the end of 2018) and to open an Australian Security Operations Centre.
Ian Mann, CEO of ECSC, commented on the listing: “I am delighted that ECSC has joined AIM. The listing will expedite the execution of our detailed growth strategy and take the company to the next phase as we look to build on our existing blue-chip client base and our proven organic growth to date. The listing will also enhance ECSC’s profile and further enhance our credibility with potential clients and employees and will provide access to the UK equity markets to support future growth.”
“We are excited by the opportunities that now present themselves to us as a listed entity. With the funding from our IPO and a strong board we feel we have never been better placed to target the significant market opportunity. We look forward to updating our new shareholders and other investors with our progress as a public company in due course,” he added.
The company, which will have a £15m market capitalisation, first announced its plans to IPO at the end of November.
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