GO plc - Investment in Cyber Security Company

On 16 March 2023, GO plc announced that it concluded the acquisition of a 51% equity stake in Cybersift Holdings Limited (‘Cybersift’) for a consideration of €0.8 million, with the possibility of a further €0.3 million earnout depending on the performance of Cybersift over a three-year period.

GO explained that Cybersift’s mission is to improve cyber security by using machine learning to provide organizations with advanced, self-learning tools for detecting threats. Cybersift offers cyber security services, including their own software for detecting threats. This software works with any existing security tools a client has and doesn’t require any changes to their infrastructure. It also helps automate the process of investigating alerts, saving time and increasing cost efficiency for the client. Its current customer base is spread between Malta, Italy and the US.

In conclusion, GO noted that this strategic acquisition highlights the company’s commitment to ensure a secure environment where businesses can achieve their digital growth. Moreover, GO anticipates that Cybersift’s own software will drive new opportunities domestically and internationally.