Winning a bigger piece of the data erasure pie
This morning Blancco announced that trading was "ahead of expectations", and that it had secured a new $1.2m contract extension (for 3 years) with a Fortune 500 group to use its data erasure software within their global data centres.As such, we have revised upwards our FY19 turnover, EBIT (pre SBPs) and net debt estimates to £30.5m (from £30.0m), £3.2m (£2.7m) and £1.8m (£2.0m) respectively. Along with increasing the valuation from 150p to 160p/share. It should be noted too that, although we have prudently held our FY20 and FY21 forecasts, we believe there is significant scope for further upgrades as the next 12–24 months unfold.
Blancco is the world’s leading developer of ‘data erasure’ software, used to protect governments and corporates from ID/data theft, ransomware and cyber-crime, along with being a pioneer in mobile device diagnostics.
Blancco Technology Group provides data erasure software. Co.'s segments are: Erasure, which enables customers to erase and repurpose IT devices with certified software; and Diagnostics, which provides diagnostics of smartphones and tablets, as well as new diagnostics tools. The erasure division focuses on development and delivery of solutions, includes: Blancco, a provider of data erasure software; SafeIT, which involved in cloud and networked data erasure; and Tabernus, which provides software erasure products. The diagnostics division consists of the Mobile Diagnostics business, comprising Xcaliber Technologies, a smartphone diagnostics software business and its SmartChk solution.
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