U.K. Cyber-Startup GOS Plans IPO to Tap Homeland Security SpurtAlex Pashley
U.K. cyber-protection and monitoring specialist GOS Systems Plc said it plans to raise 8 million pounds ($12 million) to fund purchases and add sales offices as it seeks to expand in the fast-growing homeland security market.
GOS, whose customers include Western law-enforcement bodies and Middle Eastern government agencies, plans to trade on London’s Alternative Investment Market starting next month, the company, based in the U.K. capital, said in a statement today.
The market for homeland security services is likely to grow 7 percent annually to reach $280 billion by 2018, spurred by concerns about the safety of Internet traffic, the company said, citing a Visiongain Ltd. report. GOS had sales of 3.5 million pounds last year, including the planned purchase of Deltenna Ltd., with earnings before interest, tax, depreciation and amortization of 300,000 pounds.
“The threats our customers face each day from terrorist or criminal groups are real, growing and constantly changing,” Chairman Peter McKee said in the statement. “Dealing effectively with those threats requires smart, capable and intelligent technology - and that is precisely what GOS provides.”
GOS, which was founded 18 months ago, plans to purchase high-performance antenna specialist Deltenna with some of the proceeds of the listing, for which Panmure Gordon Ltd. will act as broker and adviser.
The company says its products provide customers with targeted-intelligence gathering capability, including the exploitation of features of 3G and future 4G cellular networks.