Crossword Cybersecurity Plc Signs Memorandum of Understanding with Al-Rawahy Holdings, Signalling Gulf Region Expansion

18 May 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, has today announced its intention to establish a subsidiary in the Sultanate of Oman as its Middle Eastern Regional HQ. A memorandum of understanding has been signed with Al-Rawahy Holdings LLC of the Sultanate of Oman, which will see the formation of a licensed subsidiary called Crossword Cybersecurity LLC, majority owned by Crossword.

The Company believes that Al-Rawahy Holdings LLC is the perfect partner for Crossword, with over 40 years’ experience supporting the growing and vibrant sectors of the Oman economy and throughout the Gulf region. With over 10,000 employees, the group is active in the oil & gas, facility management, telecoms, mining, infrastructure, trading and construction industries.

Crossword Cybersecurity LLC will be the exclusive third-party distributor of Crossword’s existing and future cyber security products, including Rizikon, the SaaS platform that enables medium to large companies to assess and manage all risks from their suppliers. Crossword’s full range of cyber security services will also be made available– helping companies in the region improve their cyber security posture to achieve best practices with the latest solutions.

The signing in 2019 of the UK-Oman Comprehensive Agreement and the Joint Defence Agreement (JDA) by the UK and Oman governments builds further on decades of digital partnership, with commitments to “Deepening cooperation on cyber security and sharing expertise in developing secure and resilient information management and communications technology.” This cooperation was reinforced by a Royal Decree from HM Sultan Haitham in 2020 announcing the formation of a new national Cyber Defence Centre.

Digital Transformation is a key priority for the Government of Oman as exemplified by the public services digital 2022 plan to digitalise 59 public services across different government institutions. Robust cyber security is key to the success of such initiatives and Crossword is excited to enter this rapidly developing market.

Tom Ilube CBE, CEO of Crossword Cybersecurity Plc, said: “Now is an excellent time to deepen private sector cyber security solutions in Oman, and engage in knowledge exchange and training in the region as Crossword seeks to support Oman’s Vision 2040 cyber goals. During 2020, Crossword saw strong revenue growth of 25%, including our first project in Oman. We are delighted to be partnering with the Rawahy Group in the creation of Crossword Cybersecurity LLC, giving us a permanent presence with which to meet the cyber security needs of organisations in Oman and across the Gulf region.”

Sheikh Is-haq Al-Rawahy, Vice Chairman of Al-Rawahy Holdings LLC, said “We are excited partnering with Crossword Cybersecurity Plc to offer their experience and professional service in the much-needed cyber security for the region, starting here in Oman. This is in line with the country’s 2040 vision and our Group’s strategic objectives of utilising the unique position of Oman in establishing a strong base for regional expansion at the right time.