Shearwater Group (SWG) has secured a three-year contract worth ~£9.2 million with a major UK telecommunications provider through its subsidiary, Brookcourt Solutions, significantly expanding an existing customer relationship.
The agreement covers an extension of existing cybersecurity services, increased deployment across the customer's operations and a new cloud security contract secured by replacing an incumbent provider.
Of the total contract value, ~£3 million is expected to be recognised in FY27, supporting the delivery of market expectations. The remaining revenue will provide greater visibility through to October 2029.
The contract strengthens Brookcourt's position in the UK telecommunications sector and demonstrates its ability to secure additional cybersecurity spending from established enterprise customers. It also highlights Shearwater's strategy of expanding long-term customer relationships by addressing a broader range of security requirements.
Shearwater's CEO Phil Higgins said: "This is a strategically important award for Brookcourt and an excellent example of the model we are building across the Group. Our strategy is not simply to win individual technology contracts, but to establish trusted positions within major organisations and then expand those relationships by addressing a broader range of their cybersecurity requirements.
Importantly, it also strengthens our long-term revenue visibility and further embeds Brookcourt within one of the UK's major telecommunications providers. We believe there remains significant opportunity to replicate this approach across our wider customer base, particularly within telecommunications, financial services, government and other large enterprises where cybersecurity requirements continue to grow in scale and complexity."
View from Vox
The £9.2 million contract expansion reinforces Shearwater's ability to grow revenue from established enterprise customers while securing new areas of cybersecurity spending. With ~£3 million expected in FY27 and the balance extending through October 2029, the agreement strengthens medium-term revenue visibility and supports the group's strategy of building deeper, higher-value customer relationships.