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(Alliance News) - Beeks Financial Cloud Group PLC said Tuesday it has been awarded a GBP2.0 million grant from the Scottish government.
The Glasgow-based financial cloud software provider said its has received a Scottish Enterprise R&D grant, allowing the firm to invest in its Network Automation project.
Beeks said the total cost of the project could reach GBP4.2 million. The cross-system project aims to fully automate the company's network infrastructure deployment.
The company said the grant will "accelerate" the project, which will see Beeks expand its Glasgow headquarters and broaden its product offering.
The grant is payable in instalments over the next three years.
Chief Executive Gordon McArthur said: "We are extremely grateful for Scottish Enterprise in their support for our strategic Network Automation initiative. The project will further strengthen our position as a leading provider of cloud computing services to financial markets, increasing the differentiation of our offering and helping to accelerate our future growth. We are proud to service our international customer base from our Glasgow headquarters and are delighted to be able to continue to expand our team in Scotland."
Shares in Beeks Financial Cloud were 5.5% higher in London on Tuesday morning at 122.40 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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