$2 million Proximity Cloud Win

RNS Number : 3483C

Beeks Financial Cloud Group PLC

22 February 2022

 

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:

Beeks Financial Cloud Group plc
Gordon McArthur, CEO	via Alma PR
Fraser McDonald, CFO
Canaccord Genuity	[phone]
Adam James / Patrick Dolaghan
Alma PR	[phone]
Caroline Forde / H ilary Buchanan / Joe Pederzolli

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

 

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