Proactive Investors - Run By Investors For Investors

Defenx shares jump as it rewrites agreement with Italian partner

The cybersecurity group's shares jumped 50% in Tuesday's early deals
Cyber security
BV holds 64% of the company's shares

Defenx plc (LON:DFX) shares jumped more than 50% in Tuesday’s early deals on the news of a distribution and services deal with BV Tech, a major shareholder in the company (with 64%).

Replacing a prior arrangement from June 2017, the new agreement gives BV Tech the right to sell the company’s cybersecurity products in Italy – in industries such as defence, space, national security or critical infrastructures sectors. The deal will run to the end of 2023.

In return, Defenx will receive €1mln, across three instalments before the end of the first half of 2019, it will also be due royalties equal to 50% of revenues in excess of €5mln.

BV Tech has also committed to buying at least €1.2mln of products over a two year period.

It was noted that certain prior restrictions under the previous deal have now been removed.

Defenx at the same time enters into a services agreement with BV Tech, with aggregate fees capped at €1.2mln.

In London, Defenx shares rose by 2.3p or 51% to trade at 6.8p.

View full DFX profile View Profile

Defenx PLC Timeline

Newswire
October 25 2017
Newswire
January 03 2017
Newswire
August 02 2016
Newswire
April 19 2016

Related Articles

man with mobile biometric tracking device
March 20 2019
Ipsidy has seen the market for its proprietary biometric technology explode after the hacks of Equifax Inc, Target Corp and Home Depot
US dollars
January 14 2019
The growing company’s share price gained 90% last week on news of the cash injection.
Internet address bar
Fri
In a February trading update, the firm said it had delivered a “strong” performance in 2018 with revenues for the year expected to be around £42.5mln compared to £24.3mln the year before

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use