Crossword Cybersecurity PLC (LON:CCS) said it has signed an agreement with the University of Glasgow (UOG) to support its privacy risk and compliance (PRC) project by creating a new software product aimed at privacy governance.
The AIM-listed firm said it will help to design, market test and build the software, which will ultimately be owned by a newly formed separate UOG spin-off business.
Under the deal, Crossword said it will provide a team of product managers, designers and developers who will act under the direction of the university's academic champion, adding that it will use its large customer base and in-house team of privacy and GDPR consultants to market test the product.
The firm said the contract was awarded for delivery during 2021 following what it said was a “rigorous tendering process”, adding that the partnership stems from previous work with UOG in 2019 in the InnovateUK CyberASAP programme for cybersecurity academic start-ups.
“Crossword Cybersecurity is delighted to be working with the University of Glasgow to help commercialise this exciting research.
It's particularly satisfying to help a team we know from our work on CyberASAP take further steps along the road to commercial success," Crossword’s chief product officer Jake Holloway said in a statement.