Increased client uptake of Excelerator

RNS Number : 8898O

Arcontech Group PLC

04 February 2019

 

ARCONTECH GROUP PLC

("Arcontech", the "Company" or the "Group")

Increased client uptake of Excelerator

Arcontech (AIM: ARC), the provider of products and services for real-time financial market data processing and trading, is pleased to announce a noteworthy increase in users of Excelerator, its real-time market data Excel Add-in, at one of its clients, a leading US Investment bank.

Under a new multi-year agreement reached in 2018, the latest user count in January 2019 shows the Excelerator user base to have grown by just over 100% since the end of 2018. In addition, users of Arcontech's desktop solution software at the same client have increased to 40.

Whilst the agreement has some flexibility to adjust Excelerator user numbers during the term of the contract, maintaining the current user base will result in an annualised increase in revenues of approximately £200,000 per annum, underpinning the Board's expected financial performance for the Company for the financial year ending 30 June 2019.

Enquiries:

Arcontech Group plc	020 7256 2300
Richard Last, Chairman and Non-Executive Director
Matthew Jeffs, Chief Executive
finnCap Ltd (Nomad & Broker)	020 7220 0500
Carl Holmes/Simon Hicks - Corporate Finance Camille Gochez - ECM

To access more information on the Group please visit: www.arcontech.com

 

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