IP Group and Crossword sign Memorandum of Understanding

Crossword Cybersecurity Plc (NEX: CCS, “Crossword”), the technology
commercialisation company focusing exclusively on the cyber security
sector, is pleased to announce that it has signed a Memorandum of
Understanding (“MoU”) with Main Market listed IP Group plc (LSE: IPO)
(“IP Group”), the developer of intellectual property-based businesses. 

The MoU sets up an understanding between IP Group and Crossword to
commercialise cybersecurity intellectual property originating from
university research projects. In pooling the expertise of the two groups,
the MoU will create a framework to enable detailed technical and
commercial exploration of the complex opportunities academia gives rise
to in this $100bn plus market. We believe this will allow greater
exploitation of the UK’s research output in this sector, something which
has historically lagged behind that of other advanced countries despite
the leading position the UK has in cyber security at a Governmental
level. 

IP Group and Crossword believe there is a rich untapped seam of
cybersecurity research taking place in universities worldwide which can
form the basis of successful commercial products and companies.
Crossword has already identified hundreds of university cybersecurity
research projects and has the deep expertise required to assess and
identify those that are best suited for spinning out into start-up
ventures. By working with IP Group we aim to transition the most
promising and exciting candidates in to truly world-leading businesses. 

Tom Ilube CBE, Crossword CEO, said: 

“Crossword is delighted to be working with IP Group on identifying and
commercialising innovative cybersecurity research emerging from
Universities worldwide. IP Group pioneered the concept of the long-term
partnership model with universities and coupled with Crossword’s deep
cybersecurity expertise, we anticipate creating exciting new ventures
together.” 

Dr Lee Thornton, Director — New Business & Partnerships, IP Group said: 

“IP Group is excited by the prospect of working with Crossword
Cybersecurity, a leader in its field having already created two spin-out
companies from UK universities. Crossword share our vision of building
next-generation businesses founded on world-leading science, and by
pooling our commercial and technical expertise we hope to generate
significant value in this high-growth sector”. 

Further information, please contact: 

Tom Ilube
CEO, Crossword Cybersecurity
Tel: +44 (0) 20 8973 2350  
Email: info@crosswordcybersecurity.com 

 NEX Corporate Advisor
Nick Michaels and Jon Isaacs, Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 (0) 203 772 0021 

NEX Corporate Broker
Claire Louise Noyce – CEO, Hybridan LLP
Tel: +44 (0) 203 764 2341
Email: claire.noyce@hybridan.com