By Anca Alexe

Copyright business-review

Safetech Innovations (BVB: SAFE) announces its participation as a subcontractor in an international consortium that will be involved in the European Commission’s FREIA framework contract, through the Directorate-General for Digital Services (DG DIGIT).

The consortium, led by Ernst & Young Consulting BV/SRL and comprising Orange Business Belgium S.A., Cosmote Global Solutions N.V., and Deutsche Telekom Global Business Solutions S.A., secured the first position under two lots of the framework contract, with a total value of 177.6 million euros. Positions 2, 3, and 4 under this procedure have been awarded to three other consortia.

“The involvement of Safetech Innovations as a subcontractor in this framework contract confirms the expertise of our team and our ability to deliver top-tier cybersecurity services at the standards required by European institutions, and it aligns with the Company’s international expansion strategy. This achievement is also the result of the substantial investments made in recent years, both in the development of the services we provide and in the growth and specialization of our team, enabling us to address the most complex security challenges. We are in a period when cybersecurity risks are higher than ever, and managing them requires a top-down approach, from transnational institutions to every individual citizen. The cybersecurity market is experiencing an extremely dynamic phase, marked by growing demand for specialized services. In addition, the transposition of the NIS2 directive into Romanian legislation has broadened the scope compared to previous regulations, prompting more and more companies to strengthen their cybersecurity measures. We are confident that this framework contract will not only reinforce our position in the European market but also create new opportunities for collaboration, while supporting a higher level of cybersecurity resilience across the European Union,” stated Victor Gânsac, Chairman of the Board of Directors and CEO of Safetech Innovations.

The European Commission’s FREIA framework contract aims to strengthen cybersecurity across the institutions, bodies, and agencies of the European Union and has a duration of 48 months. The consortium in which Safetech Innovations will act as a subcontractor secured the first position for two lots of the framework contract. Lot 2 covers support for the implementation of cybersecurity policies and has a total value of 128.2 million euros, while Lot 3 includes advisory and capacity-building services in the cybersecurity field, with a total value of 49.4 million euros.

Safetech Innovations will carry out activities based on specific orders received throughout the duration of the contract, under the coordination of the consortium leaders. The actual allocation of activities and associated revenues will depend on the DG DIGIT’s evolving needs over the duration of the contract, as well as on the internal distribution of tasks among consortium members, based on their respective expertise. Going forward, the Company aims to participate in European Union tenders for cybersecurity services, either individually or as part of consortia.

Safetech Innovations has been listed on the Main Market of the Bucharest Stock Exchange since February 6, 2023 and is traded under the symbol SAFE. The Company has offices in Bucharest, London, Abu Dhabi, and Riyadh.