23 February 2021 – London, UK – Crossword Cybersecurity Plc (AIM:CCS, “Crossword”, the “Company” or the “Group”), the technology commercialisation company focused on cyber security and risk management, is pleased to announce that it has reached agreement with the University of Glasgow to support its PRC (Privacy Risk and Compliance) Project, in creating a new software product aimed at Privacy Governance. Crossword will help to design, market test and build the software product. Ultimately this product will be owned by a newly formed separate University of Glasgow spin-off business.
Under the agreement, Crossword will provide a team of product managers, designers and developers who will act under the direction of the University of Glasgow’s academic champion. Crossword will use its large customer base and its in-house team of Privacy & GDPR Consultants to market test the product. Following a rigorous tendering process, the contract was awarded to Crossword for delivery during 2021.
Crossword previously worked with the University of Glasgow team in the InnovateUK CyberASAP programme for cyber security academic start-ups. This collaboration very much stems from that work in 2019.
Jake Holloway, Chief Product Officer of Crossword, commented; “Crossword Cybersecurity is delighted to be working with the University of Glasgow to help commercialise this exciting research. It's particularly satisfying to help a team we know from our work on CyberASAP take further steps along the road to commercial success.”
Inah Omoronyia, PRC Academic Champion of the University of Glasgow, commented; “I’m pleased to be partnering with Crossword Cybersecurity to explore the possibility of commercialising my research. I look forward to working with the Crossword team on the development and market testing of a new product."
Crossword Cybersecurity plc – Tel: +44 (0) 20 3953 8460
Tom Ilube, Chief Executive Officer
Mary Dowd, Chief Financial Officer
Grant Thornton (Nominated Adviser) – Tel: +44 (0) 20 7383 5100
Colin Aaronson / Jamie Barklem
Hybridan LLP (Broker) – Tel: +44 (0)203 764 2341
Claire Louise Noyce
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About Crossword Cybersecurity plc
Crossword Cybersecurity plc focuses on the development and commercialisation of university research-based cyber security and risk management related software and cyber security consulting. The Group’s specialist cyber security product development and software engineering teams work with its university partners to develop the research concept into a fully-fledged commercial product that it will then take to market. The Group’s aim is to build up a portfolio of revenue generating, intellectual property based, cyber security products. Rizikon Assurance, Crossword’s leading product, is a SaaS platform that enables medium to large companies to assess and manage all risks from their suppliers. Nixer CyberML, Crossword’s most recently launched product, is a new tool for businesses that want to solve advanced security and cybercrime problems, such as detecting and dealing with compromised accounts, fraud, and in-application denial of service attacks. Crossword’s team of expert cyber security consultants leverages years of experience in national security, defence and commercial cyber intelligence and operations to provide bespoke advice tailored to its clients’ business needs.
About University of Glasgow
The University of Glasgow is the current Times Higher Education (THE) University of the Year. The University of Glasgow is a major research-led university. Founded in 1451, it is the fourth oldest university in the English-speaking world, and one of Scotland’s four ancient universities.