Proximity Cloud Win

Beeks Financial Cloud Group PLC

05 March 2024

 

Beeks Financial Cloud Group plc

("Beeks" or the "Company")

Proximity Cloud Win

£5m Proximity Cloud customer win with Global banking group

5 March 2024 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce a further significant customer win.

Beeks has achieved preferred cloud computing and connectivity vendor status for one of the world's largest banking groups, in a competitive pitch process. The onboarding process is underway and revenue from the win, which has the ability for further expansion, is expected to commence in H1 FY25, with an aggregate value of approximately £5 million over five years, supporting recently upgraded Board expectations.

Gordon McArthur, CEO at Beeks, commented: "We continue to experience strong momentum across our offerings, typified by this latest Proximity Cloud win with a significant new customer, one of the world's largest banking groups. We remain focused on the continued execution of our land and expand strategy, and we are well-placed to benefit as the global financial markets continues its transition to the cloud."

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

 

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