Crossword Cybersecurity PLC (AIM:CCS) said it has acquired Threat Status Ltd, the provider of a platform for businesses to monitor leaked data, for a total consideration of £1.53mln.
An initial cash consideration of £500,000 has been paid for a business that made a loss of £55,000 in the year to end-March 2021 but is reaching breakeven on its recurring revenues, Crossword said in a statement.
Trillion, the data leak platform, is Threat Status’ best-known product, said Crossword, though it recently launched Arc which focuses on account takeover risk.
Trillion enables businesses and managed service providers to monitor data that has been stolen and shared on the dark web and criminal forums.
Threat Status founder and chief executive Jon Inns will join Crossword and continue to head the business.
Tom Ilube, Crossword’s chief executive, added: "Crossword is pleased to incorporate Trillion and Arc into its product suite, completing our aim of having five products in the market by the end of 2022 and adding over 20 new recurring revenue clients.
“This is our third acquisition in less than a year and shows the extent of our ambition to provide a portfolio of subscription-based, enterprise-class products and services."
Inns added: "Threat Status has developed one of the strongest and most advanced credential leak monitoring services in the market and we're looking forward to leveraging the opportunities and synergies this acquisition by Crossword represents.”