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On 22 February 2022, Beeks Financial Cloud Group Plc announced the signing of a new five-year multi-year contract for its Proximity Cloud offering with a North American bank, valued at an initial $2 million. This contract brings the total value of Proximity Cloud contracts to over $5.2 million since the offering's launch in August 2021.
| Date | 22 Feb 2022 |
| Time | 07:00:08 |
| Category | Corporate updates |
| ID | 3483C |
Beeks Financial Cloud Group plc
("Beeks" or the "Company")
$2 million Proximity Cloud Win
Additional significant contract brings total value of Proximity Cloud contracts to over $5.2m since launch in August 2021
22 February 2022 - Beeks Financial Cloud Group Plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce the signing of another multi-year contract for its recently launched Proximity Cloud offering. The five year contract, worth an initial $2 million, is for a North American bank, secured via a partner.
Proximity Cloud is a private cloud environment for financial markets, a high-performance, dedicated and client-owned trading environment, fully optimised for low latency trading conditions and built with security and compliance at the forefront.
The value of this contract means that the Board anticipates revenue for the full year to be slightly ahead of the recently upwardly revised expectations, with the additional profits to be further invested into the offering in order to support the strong pipeline of opportunities ahead.
Gordon McArthur, CEO of Beeks Financial Cloud commented:
"I am delighted to have signed another Proximity Cloud contract, underpinning the Board's strong belief in the value of the offering. We are attracting some of the world's leading financial services organisations and I am confident the investment we are making in additional features to Proximity Cloud, will see our pipeline continue to increase."
For further information please contact:
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Beeks Financial Cloud Group plc |
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Gordon McArthur, CEO |
via Alma PR |
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Fraser McDonald, CFO |
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Canaccord Genuity |
+44 (0)20 7523 8000 |
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Adam James / Patrick Dolaghan |
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Alma PR |
+44(0)20 3405 0205 |
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Caroline Forde / Hilary Buchanan / Joe Pederzolli |
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ABOUT BEEKS FINANCIAL CLOUD
Beeks Financial Cloud is a leading cloud computing, connectivity and analytics provider for financial services. Our cloud-based Infrastructure-as-a-Service (IaaS) model allows financial organisations the flexibility and agility to deploy and connect to a variety of exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure. Based in the UK with an international network of 19 datacentres, Beeks supports its global customers at scale in the leading financial centres.
For more information, visit: www.beeksgroup.com