Crossword Cybersecurity Plc (AIM:CCS, “Crossword”, the “Company” or the “Group”), the technology commercialisation company focused solely on cyber security and risk, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Leonardo MW Ltd (“Leonardo”), a global high-tech Aerospace Defence and Security company.
Crossword is rapidly becoming a leading player in the provision of risk assurance systems. Rizikon Assurance allows organisations to assess, assure, visualise and, ultimately, control third party risk.
The cooperation between Crossword and Leonardo will enable Leonardo’s National Cyber Security Centre’s certified cyber consultancy to use Rizikon Assurance to enhance its leading risk assessment and risk management practice for customers throughout the world. Leonardo targets its cyber security offerings at Government, Defence and Critical National Infrastructure both in the UK and internationally. Supporting that offering with industry-leading tooling such as Rizikon Assurance, will further improve outcomes for customers.
The MoU states an intention to collaborate across multiple workstreams, including an agreement to bid for certain significant contracts across multiple industries throughout 2020, utilising Crossword’s flagship third party risk management solution Rizikon Assurance and Leonardo’s extensive expertise in integration, cyber and third-party assurance. A recent Ponemon Institute survey found that 56% of data breaches were caused by a third-party vendor and with this issue gaining in media and regulatory attention, it is critical that businesses understand their third-party risk and how to mitigate it. Crossword’s Rizikon Assurance and Leonardo’s cyber and supply chain assurance capability perfectly align to address this growing requirement.
The MoU also explores opportunities to partner to deliver technology commercialisation, focusing on cybersecurity research in UK universities and bringing cutting edge technology to market.
Jake Holloway, Crossword’s Business Development Director, said: “Having Leonardo as a partner will allow us to respond to much larger opportunities for our products like Rizikon Assurance. This is a big step in our development as a business.”