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Pin to quick picksBeeks Fin.cloud Share News (BKS)

Share Price Information for Beeks Fin.cloud (BKS)

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Share Price: 169.50
Bid: 167.00
Ask: 172.00
Change: 0.00 (0.00%)
Spread: 5.00 (2.994%)
Open: 169.50
High: 169.50
Low: 169.50
Prev. Close: 169.50
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Beeks acquires Commercial Network Services assets in $1.4m deal

Thu, 09th May 2019 10:30

(Sharecast News) - Cloud computing and connectivity provider Beeks Financial Cloud Group has acquired the assets of US-based online service provider Commercial Network Services (CNS) for a total consideration of up to $1.4m, it announced on Thursday.The AIM-traded firm explained that CNS specialised in hosting low-latency algorithmic trading systems, virtual private networks and streaming media from data centres in London, New York and Los Angeles.Founded in 2000, it provided services to around 1,000 retail traders across multiple geographies.CNS had annualised recurring revenue of approximately $1m, and delivered a profit before tax of $0.17m in the year ended 31 December.The transaction would bring additional customers and data centre locations to Beeks' retail offering, the board explained, and was also expected to deliver cost synergies.Beeks' board said the transaction was expected to be "earnings enhancing" within the first full year of Beeks' ownership.The transaction was in line with the group's stated strategy to grow both organically and through tactical and strategic acquisitions, it added.With an established customer base, high levels of recurring revenue and strong service offering, the board said the transaction added both scale and cost-synergies to Beeks' retail trader offering.Under the terms of the transaction, $1.3m would be settled in cash on completion, with $0.1m held as retention subject to satisfactory completion of warranties.The initial consideration and contingent consideration would be financed out of the group's existing cash balance and banking facilities."At the time of our IPO we stated our belief that the fragmented nature of our industry would provide us with the potential to augment our organic growth with both bolt-on and strategic acquisitions," said Beeks Financial Cloud chief executive officer Gordon McArthur."Commercial Network Services is a profitable business whose services reflect those we offer to retail traders."The business therefore fits well within our acquisition criteria and we anticipate will be a valuable addition to the group."
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Beeks Financial Cloud shares up on USD4 million worth of contract wins

(Alliance News) - Beeks Financial Cloud Group PLC shares were up on Monday, after it said it has signed a number of private cloud contracts in July, with a total contract value of over USD4 million.

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19 Jun 2023 14:31

IN BRIEF: Beeks Financial signs deal with Johannesburg Stock Exchange

Beeks Financial Cloud Group PLC - Glasgow-based cloud computing and connectivity provider - Signs deal with the Johannesburg Stock Exchange to power customer private cloud deployments. Says the collaboration will see the deployment of an "advanced managed Infrastructure-as-a-Service solution for the JSE", called Colo 2.0, which the exchange will be able to offer direct to their own customers. Adds that the project will be delivered from Beeks' existing stock supplies and will have no requirement for cash investment to fulfil the contract.

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RTW Venture Fund LtdEGM
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Technology Minerals PLCAGM
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10 Oct 2022 11:07

Beeks Financial shares drop as annual profit falls; wins contracts

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Beeks Financial shares up as ICE Global Network named as customer

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Beeks Financial Cloud delivers 'record' FY trading performance

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Beeks launches Exchange Cloud amid early contract win

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IN BRIEF: Beeks Financial raises GBP15 million for product investment

Beeks Financial Cloud Group PLC - Glasgow-based provider of connectivity for financial markets - Raises GBP15 million through the issue of 9.1 million shares via a placing and PrimaryBid offer at a price of 165 pence per share.

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TRADING UPDATES: Beeks seeks GBP15 million; Sanderson renews licence

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24 Mar 2022 15:54

Beeks Financial Cloud wins five-year private cloud contract

(Alliance News) - Beeks Financial Cloud Group PLC on Thursday said it won a multi-year private cloud contract.

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21 Mar 2022 12:12

TRADING UPDATES: Asimilar to list on AQSE; Spectral MD swings to loss

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