Falanx wins new contract, appoints Ian Selby as CFO

Intelligence, security and cyber defence provider Falanx Group said on Monday that it has won a multi-year contract with a "premier" UK health sector organisation as it announced the appointment of a new chief financial officer.

The three-year managed cyber security contract is with a "valued client" of the company and is expected to generate more than £250,000 of revenues. Falanx said the client now enjoys the benefit of all the product offerings of Assess, Consult, Monitor and Response, with the new contract providing an expansion of its Protective Monitoring service to provide more comprehensive coverage of the IT estate.

In addition, the group announced the appointment of Ian Selby as CFO with immediate effect. Selby was previously the CFO of AIM-listed Westminster Group, where he supported the development of the company's managed services business and the raising of the associated financing. Prior to that, was group finance director of Zenith Hygiene, where he was instrumental in executing a successful trade sale and prior to this was the CFO of a listed software company focused on financial and public sectors.

Falanx said Selby has extensive experience including due diligence, M&A, fundraising, working capital improvements, bank and mezzanine debt, and operational finance management. Earlier in his career he held international finance roles in listed technology companies including Halliburton, Sybase and Micro Focus.

At 1420 GMT, the shares down 1.6% to 4.62p.