RED.L Share News (RED)

Network-based managed services and technology solutions provider, Redstone, has announced the renewal and expansion of a managed services agreement with a financial services organisation.In an update issued on Tuesday, the company reported that the contract is worth approximately £6.9m over a three-year term, £3.0m of which is net new business.It said that the deal sees the renewal of an existing 'adds, moves and changes' arrangement with the organisation for a further three years. Redstone has also won an extension of the contract to provide full deskside high touch support services across the UK.The extended contract covers the EMEA [Europe, Middle East and Africa] region, potentially offering additional opportunities in the future.Fraser Fisher, Managing Director of Redstone Group Operations, said: "This is a fantastic win for our campus services division. It extends a long-running relationship for another three years and demonstrates how Redstone's flexibility is well received by clients and is winning us additional business."MF