- Cyber security company Shearwater Group said it had agreed to acquire assets from testing services provider Secarma for £7.4m.

The consideration was payable in £6.7m of new shares and £0.7m in unsecured loan notes, with the business to be rebranded as Pentest.

'Over the past year we have witnessed a substantial and growing demand for cyber security testing services and red teaming in particular,' chairman David Williams said.

'We've looked at a number of opportunities in this sector and we're delighted to have secured a deal to purchase this business.'

'The incoming team's industry expertise and considerable experience as well as market position will be very complementary to our services businesses and provides another key capability for the group as a whole.'

At 8:08am: [LON:SWG] Shearwater Group Plc share price was +0.13p at 1.5p

Story provided by