Beeks wins five-year, $3m software contract

(Sharecast News) - Beeks Financial Cloud has secured a five-year software contract worth $3.0m with an existing analytics customer, it announced on Monday, taking the total value of contracts won in June to about $10m.

The AIM-traded cloud computing and connectivity provider for financial markets said the customer, a leading North American exchange operator, would expand its deployment of Beeks Analytics and also deploy Market Edge Intelligence in New York.

Revenue recognition was expected to begin immediately.

"We are delighted to have secured our third Market Edge Intelligence contract within months of launch, providing strong validation of the power of the offering and its opportunity," said chief executive Gordon McArthur.

He added that Beeks had enjoyed an "outstanding June", with a strong pipeline across all offerings providing "a long runway of growth ahead".

At 1020 BST, shares in Beeks Financial Cloud Group were up 6.13% at 212.25p.

Reporting by Josh White for Sharecast.com.

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