EQS-News

cyan AG: Customer base for cybersecurity solutions significantly expanded and strategic course set

EQS-News: cyan AG / Key word(s): Miscellaneous cyan AG: Customer base for cybersecurity solutions significantly expanded and strategic course set 16.02.2024 / 08:15 CET/CEST The issuer is solely responsible for the content of this announcement.

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cyan AG: Customer base for cybersecurity solutions significantly expanded and strategic course set

Munich, February 16, 2024 – cyan AG, a provider of intelligent cybersecurity solutions, has achieved high growth rates in the subscriber numbers for cybersecurity products in the past financial year 2023. Compared to 2022, the number of end customers increased by 71%. This places cyan in an excellent starting position for a successful financial year 2024 with its fast-growing core business of intelligent cybersecurity solutions. Furthermore, this provides a good foundation for monthly recurring revenues.

Thomas Kicker, CEO of cyan AG: “Our core business cybersecurity is experiencing dynamic growth. The high increase in end customers using our solutions makes me very confident for 2024. We operate in a highly important sector: security in the digital and connected space. At cyan we want to elevate cybersecurity to a new level. To achieve this, we will launch new products into the market and tap into new customer segments through strategic partnerships. In my first weeks as CEO, my colleague Markus Cserna and I have already taken important steps to fulfill this ambition. The sale of our BSS/OSS segment has enabled us to considerable reduce complexity within the Group. We will leverage this achievement to simplify internal processes and start the new financial year with a partially new and, above all, leaner team.”

With the successful sale of the BSS/OSS segment (i-new) in December 2023, the non-core business was sold, and the strategic focus was sharpened. The concentration on the future oriented cybersecurity business under the "cyan digital security" brand paves the way for profitable growth in the medium term, based on the rapidly growing cybersecurity market and a significantly reduced cost structure. As part of the new strategy, in particular telecommunications providers and their end customers will benefit from the improved key product "OnNet Core", which enables faster implementation in just a few weeks. Thus, cyan's partners can also plan with faster sales. The product will be offered predominantly to new but also existing customers. Another strategic cornerstone is the movement into new industries for cybersecurity solutions. Therefore, cyan will focus on new strategic partnerships with which the company will advance into the banking and insurance sectors in particular. These partnerships will extend to the project and product areas.