Falanx*
The FY17 prelims and a recent trip to Falanx’s new Birmingham Security Operations Centre (SOC) emphasises the changes it has implemented over the last 12 months. Two acquisitions, an increase in the range of services provided, a stronger management team, the release of new software and in relation to the SOC itself, a 20% reduction in fixed costs, yet a tripling in capacity will allow Falanx to move from a period of restructuring to growth. With cyber security high on the agenda for many organisations, we re- iterate our buy recommendation and increase the price target from 9p to 11p to reflect the increasing momentum.*Whitman Howard acts as joint broker to Falanx
Falanx Group and its subsidiaries are focused on intelligence and security. Co. has three business divisions: Falanx Intelligence, Falanx Resilience and Falanx Cyber. Falanx Intelligence - Co. has acquired Stirling Assynt, a provider of Political & Security Risk and Business Intelligence services to a global network of government and blue-chip clients. Falanx Resilience offers specialist security consultancy, design, training and management focused on delivery of solutions in response to specific client requirements. Falanx Cyber - Co. entered into an agreement with Assuria Limited for a global licence to use its suite of cyber security software products.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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