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Shearwater Group's portfolio company expands US operations with partner agreement
Shearwater Group announced on Wednesday that its portfolio company, SecurEnvoy, has entered into an agreement to have XenTegra represent it as a new valued-added reseller in the US.
AIM-traded digital resilience firm Shearwater said that XenTegra is a North Carolina-based renowned value-added reseller that specialises in the distribution of security solutions to a large corporate and public sector customer base.
Michael Stevens, group chief executive of Shearwater, said: "I am delighted with the partnership we have created with XenTegra and look forward to seeing this flourish over the coming months. Establishing a meaningful presence in the US is not easily done, but we are increasingly seeing the rewards of our considered approach to investing in new territories."
SecurEnvoy first established a formal presence in the US in August 2017 and has already secured 15 partnerships in the country, something that highlights the company's "positive early momentum," according to Shearwater.
The portfolio company said its focus is on designing authentication solutions for mobile phones and other personal devices that avoid issues such as SMS delays, no phone signal or soft token synchronisation problems.
Andy Whiteside, chief executive and founder of XenTegra, said: "SecurEnvoy have shown themselves to be unique in their delivery of a feature rich product that is easy to deploy and manage and clearly provides the most flexibility for a product of this kind. Their roadmap has shown us that they truly understand what the customer wants and can be trusted to deliver."
As of 0959 BST, Shearwater Group's shares were up 3.75% at 4.15p.