Beeks Financial Cloud Group PLC Proximity Cloud Win (3022T)

TIDMBKS

RNS Number : 3022T

Beeks Financial Cloud Group PLC

14 November 2023

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Proximity Cloud Win with Tier 1 Investment Manager

14 November 2023 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce the signing of a multi-year contract with a Tier 1 investment manager for its Proximity Cloud offering.

The contract, worth more than $1.3 million in aggregate over a three year period, with their option to extend for a further two years, is for the deployment of the Beeks high performance, dedicated and client-owned trading environment in both London and New York, with the potential for significant future expansion.

This contract, combined with the previously announced $4m of Private Cloud contracts signed in July and the go live of Exchange Cloud at the JSE in September, have provided a strong start to the year and the Company continues to make progress on the conversion of its significant pipeline.

Gordon McArthur, CEO at Beeks, commented: "We continue to attract high profile financial organisations and in turn increase our presence in the sector. Following a strong start to the year, our high levels of contracted, recurring revenue provide confidence moving forwards. We remain focused on converting the growing pipeline of opportunities across each of our product offerings and delivering growth acceleration in FY24 and beyond."

For further information please contact:

 
 Beeks Financial Cloud Group plc 
 Gordon McArthur, CEO                                 via Alma 
 Fraser McDonald, CFO 
 
                                                      [phone] 
 Canaccord Genuity                                     8000 
 Adam James / Gordon Hamilton 
 
 Alma                                                 [phone] 
 Caroline Forde / Hilary Buchanan / Joe Pederzolli 
 

About Beeks:

Cloud computing is crucial to Capital Markets and finance.

Beeks Group is a leading managed cloud provider exclusively within this fast-moving sector. Our Infrastructure-as-a-Service model is optimised for low-latency private cloud compute, connectivity and analytics, providing the flexibility to deploy and connect to exchanges, trading venues and public cloud for a true hybrid cloud experience.

ISO 27001 certified, we provide world-class security aligned to global security requirements.

Founded in 2011, Beeks Group is listed on the London Stock Exchange (LSE: BKS) and has enjoyed continued growth each year. Beeks Group now employs over 100 team members across the globe with the majority based at our Renfrew HQ.

Find out more at beeksgroup.com

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November 14, 2023 02:00 ET (07:00 GMT)