Significant Clareti Contract Win with Global Bank

RNS Number : 7211J

Gresham Technologies PLC

23 December 2020

 

RNS

23 Dec 2020

Gresham Technologies plc

Significant Clareti Contract Win with Global Investment Bank

Gresham Technologies plc (LSE: "GHT", "Gresham"), the leading software and services company that specialises in providing solutions for data integrity and control, banking integration, payments and cash management, is pleased to announce a significant new Clareti contract win.

On 23 December 2020, one of the world's largest banking groups signed a subscription software license with Gresham for a deployment of the Clareti platform with software fees of US$1.9 million over a committed five year term. The bank will use the technology initially within its US securities business to strengthen inter-systems and regulatory controls and strategically improve data quality.

As a result of this new contract, Gresham now expects Adjusted EBITDA* for the current financial year to be ahead of current analyst forecasts of £4.1 million.

Commenting on the new win, Ian Manocha, Chief Executive Officer said:

"We're delighted to close the year strongly with this excellent new customer win from our US team which again highlights the unique capabilities of our technology. The Clareti platform is in a class of its own when it comes to controlling the complex internal processing flows and myriad of non-standard data formats found within any global capital markets firm. We look forward to working with another Top 20 global investment bank on such an important operational and regulatory imperative."

*Earnings Before Interest, Taxation, Depreciation and Amortisation adjusted to add back share-based payment charges and exceptional items and including continuing operations only.

Enquiries

Gresham Technologies plc	[phone]
Ian Manocha
Tom Mullan
N+1 Singer (Financial Adviser and Broker)	[phone]
Shaun Dobson / Jen Boorer / Iqra Amin (Corporate Finance)
Tom Salvesen (Corporate Broking)

Inside information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").  Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Note to editors

Gresham Technologies plc is a leading software and services company that specialises in providing real-time solutions for data integrity and control, banking integration, payments and cash management. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, its customers include some of the world's largest financial institutions and corporates, all of whom are served locally from offices located in the UK, Europe, North America and Asia Pacific.

Gresham's award-winning Clareti software platform is a highly flexible and scalable platform, available on-site or in the cloud, designed to address today's most challenging financial control, risk management, data governance and regulatory compliance problems. Learn more at www.greshamtech.com.

 

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