- Falanx Group has agreed a deal to acquire Advanced Security Consulting (ASC) for approximately GBP435k.

ASC is a market leading cyber security services organisation offering consulting, managed services, penetration testing and training.

Chairman of Falanx, Mike Read said:

"I am delighted to announce the acquisition of ASC. We are very excited to be working with Jay Abbott, who is a very highly regarded authority in cyber security. The acquisition will help us to offer new services to our existing blue-chip Falanx Intelligence clients and to a wider range of organisations."

Falanx's CEO, John Blamire, said:

"Falanx recently restructured to enhance its cyber security services and we now have the foundations in place to offer cost effective solutions to a full range of clients. We are working at Government level, advising five current UK Government Departments and Agencies, as well providing solutions to blue chip organisations and SMEs. ASC's capabilities are entirely complementary to our own and will allow us to offer a compelling and integrated cyber security solution to organisations of all types, delivered by highly qualified experts."

The Company has also announced a placing of new ordinary shares of no par value in the capital of the Company and the issue of senior unsecured zero coupon convertible loan notes raising total gross proceeds of approximately GBP1.55m.

At 11:50am: [LON:FLX] Falanx Group Plc share price was -1.88p at 4.13p

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