viewEight Peaks Group PLC

Eight Peaks Group picks up 25% stake in cyber security firm SOARX

The investment firm said SOARX has acquired a technology that was important in the cybersecurity market given a global shortage of IT security personnel

Eight Peaks acquired the stake for £125,000 in cash

Eight Peaks Group PLC (LON:8PG) has taken a 25% stake in cybersecurity firm SOARX Limited for £125,000 in cash.

The investment firm said SOARX had acquired the business and assets of iCyber-Security Professional Services Limited, including its iCyber-Shield platform which provides Security Orchestration Automation and Response (SOAR) management technology.

READ: Eight Peaks surges as it invests £300,000 in Virtualstock

iCyber-Shield provides enterprises with an intelligent, pro-active, auto-responsive, central cyber defence platform that utilises machine learning algorithms, blockchain technologies and Robotic Process Software Automation.

Eight Peaks said this technology was important in the market given a “significant” global shortage of trained information technology security personnel, estimating around 1.5mln roles, adding that automation technology for cybersecurity could deliver a 70%+ benefit in operating costs.

As part of the investment, the company said its executive chairman, Zafar Karim, would join the board of SOARX as a non-executive director.

In mid-morning trading Wednesday, Eight Peaks shares were changing hands at 8.5p.

Quick facts: Eight Peaks Group PLC

Price: - -

Market: LSE
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Eight Peaks Group PLC named herein, including the promotion by the Company of Eight Peaks Group PLC in any Content on the Site, the Company...


Legendary Investments book value 'too low' - Capital Network analyst Ed Stacey

Capital Network analyst Ed Stacey says it's an interesting time to revisit the investment case at Legendary Investments Plc (LON:LEG) as the shares are currently trading at a discount to net asset value (NAV) which hasn't been the case in the past.

on 4/9/18

2 min read