Shearwater Group plc (AIM: SWG), the AIM-listed cybersecurity, advisory and managed security services group, has announced that its subsidiary Brookcourt Solutions Limited has secured a strategic three-year contract with a major UK telecommunications provider valued at approximately £9.2 million. The agreement extends existing cybersecurity services, increases deployment across the customer's estate, and adds a new cloud security mandate won by displacing an incumbent provider. The contract provides meaningful near-term revenue support and extends the Group's forward revenue visibility through to October 2029.

Key Points

  • Shearwater Group plc (AIM: SWG) — UK-headquartered cybersecurity, managed security and professional advisory group
  • Subsidiary Brookcourt Solutions Limited has secured a c.£9.2 million three-year contract expansion with an unnamed major UK telecoms provider
  • Approximately £3.0 million is expected to be recognised in FY27, with the remainder providing revenue visibility through to October 2029
  • Investors may be watching whether Shearwater can replicate this relationship-expansion model across telecoms, financial services and government sectors

Brookcourt Solutions Displaces Incumbent to Win New Cloud Security Mandate from UK Telecoms Customer

The contract represents an expansion of Brookcourt Solutions' existing relationship with the unnamed UK telecommunications provider. According to the announcement, the agreement combines an extension of current cybersecurity services, broader deployment across the customer's technology estate, and the award of a new cloud security requirement following the displacement of a previously established supplier. The company states the total contract value stands at approximately £9.2 million over three years, with Brookcourt moving beyond individual technology deployments to address a wider range of the customer's cybersecurity needs within a single strategic agreement.

FY27 Revenue Recognition of c.£3.0m Supports Market Expectations for Shearwater Group

Shearwater Group states that approximately £3.0 million of the total contract value is expected to be recognised in FY27, which the announcement indicates supports delivery of market expectations for that period. The remaining balance extends contracted revenue visibility through to October 2029, providing the Group with a structured multi-year income stream from an established enterprise customer. For a group whose growth strategy includes a focused buy-and-build approach, securing long-duration contracts of this scale within existing accounts is consistent with its stated aim of building scalable, recurring revenue across its cybersecurity and managed security services portfolio.

Shearwater's Expand-Within-Accounts Strategy Demonstrated Across UK Telecommunications Sector

Chief Executive Officer Phil Higgins commented that this award is "a strategically important" win for Brookcourt and an example of the Group's broader model of establishing trusted positions within major organisations before expanding the scope of cybersecurity services delivered to them. The announcement states the Group believes significant opportunity exists to replicate this approach within telecommunications, financial services, government, and other large enterprise sectors where cybersecurity requirements are growing in scale and complexity. Brookcourt's strengthened position within a major UK telecoms provider is highlighted as evidence of that strategy in practice.

Inside Information Disclosure and Regulatory Position for Shearwater Group plc

The announcement was made under Article 7 of EU Regulation 596/2014, as retained in domestic UK law under the European Union (Withdrawal) Act 2018, confirming this constitutes inside information that entered the public domain upon regulatory publication. Shearwater Group plc is headquartered in the UK and serves customers globally across a broad range of industries. Its shares are listed on the London Stock Exchange's AIM market under the ticker SWG, with Cavendish Capital Markets Limited acting as nominated adviser. The company's full-service cybersecurity offering spans identity and access management, data security, managed security services, and governance, risk and compliance.