Wynyard Group readies new cyber-crime platform, ASX listing

New Zealand-based crime analytics software company announces an increased $17.6 million first half loss.

Wynyard Group is readying a new Advanced Cyber Threat Analytics (ACTA) platform for launch in the second half of 2015 and preparing to dual list on the Australian Securities Exchange.

The New Zealand-based company, which was spun out of Jade Corporation and listed in a 2013 public share offer, says the new product will tackle "high consequence cyber threats against high value crime targets in government, financial services and critical national infrastructure."

Wynyard will launch ACTA along with a new releases of its Advanced Crime Analytics (ACA) and Investigations Case Management (ICM) software.

"The security software market offers tools for known threat detection but the volume of attacks, previously unknown threats and alerts is overwhelming security decision makers," said Wynyard CEO Craig Richardson.

"We have designed Wynyard's ACTA solution with chief information security officers to solve this problem. ACTA leverages existing security tools and other high volume data sources to prioritise and act on the highest consequence cyber crime threats facing organisations today,"

Announcing a loss of NZ$17.6 million, up from NZ$10.2 million, for the half year, Wynyard said its board believes the current share price, driven by the thinly traded retail market, is not reflective of the company's true value.

A dual-listing on the ASX, which could help solve that issue, is expected in the fourth quarter.

Total revenue for the half year was up 39 percent from NZ$10.1 million in the same half to NZ$14 million.

New software licence revenue was up 118 percent, while revenue from partner channels, a key area of focus, increased to 15 percent of total revenue from 1.2 percent for the same period in 2014.

Wynyard left its F2015 revenue guidance unchanged in the range of NZ$40 to NZ$45 million.

The new ACTA solution is expected to have a shorter sales cycle and to deliver significant recurring software revenue in 2016, Wynyard said.

Wynyard raised a further NZ$42.6 million in a placement and share offer in June and July this year.