Crossword Cybersecurity PLC (AIM:CCS)'s (LON:CCS) Mary Dowd joins Proactive London's Katie Pilbeam after news of raising £5mln in an oversubscribed placing with news of a £1.8mln acquisition plan.
Dowd says 'we're really looking forward to our growth phase, we really feel this is a strong pivotal position for Crossword, with 25% revenue growth last year and plans to double that this year'.
The new shares were sold to investors at 30p each. The cash raised will be also be used to increase sales and marketing activities, product development and support and for general working capital purposes.
This comes ahead of the purchase of an unnamed threat intelligence and monitoring services company for up to £1.8mln.