Exchange Cloud Contract Extension

Beeks Financial Cloud Group PLC

14 March 2024

 

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Exchange Cloud Contract Extension

Significant extension of JSE Exchange Cloud contract

14 March 2024 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce that the Johannesburg Stock Exchange (JSE) has signed a significant contract extension for the provision of Beeks' Exchange Cloud.

Following the successful launch of the JSE Colo 2.0 in September 2023, the exchange has signed a significant contract extension to meet stronger than anticipated customer demand for the solution and a significant pipeline. As a result, revenue expectations from the initial term of the contract have materially increased, further supporting the recently upwards revised Board expectations for FY25.

JSE is also exploring a second site from Beeks, for back up and disaster recovery capability and potential use of Proximity Cloud, highlighting the land and expand capability within Tier 1 clients.

Colo 2.0 is an advanced managed infrastructure as a service based on the Beeks Exchange Cloud offering, in partnership with IPC. Colo 2.0 provides JSE customers with leading edge innovative hosting and connectivity solutions, accessing on-demand private cloud computing and low latency analytics.

Gordon McArthur, CEO at Beeks, commented: "We are delighted with the response from JSE customers to the Colo 2.0 offering and look forward to expanding our engagement with JSE to meet their customers' demand for on-demand cloud computing. The pipeline with other global exchanges continues to progress and grow and we remain confident in continued momentum."

For further information please contact:

Beeks Financial Cloud Group plc
Gordon McArthur, CEO	via Alma
Fraser McDonald, CFO
Canaccord Genuity	[phone]
Adam James / Alex Orr
Alma Strategic Communications	[phone]
Caroline Forde / 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

 

END